Friday , September 24 2021

Jindal Steel & Power rises on getting revised Rs 7,401 crore offer for Jindal Power

Jindal Steel & Power is currently trading at Rs. 403.80, up by 6.05 points or 1.52% from its previous closing of Rs. 397.75 on the BSE.

The scrip opened at Rs. 437.50 and has touched a high and low of Rs. 437.50 and Rs. 403.10 respectively. So far 1272022 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 501.60 on 10-May-2021 and a 52 week low of Rs. 159.70 on 22-Sep-2020.

Last one week high and low of the scrip stood at Rs. 437.50 and Rs. 377.95 respectively. The current market cap of the company is Rs. 41682.95 crore.

The promoters holding in the company stood at 60.47%, while Institutions and Non-Institutions held 25.77% and 13.76% respectively.

Jindal Steel & Power (JSPL) has received a revised offer of Rs 7,401 crore from Worldone for divestment of its subsidiary company Jindal Power (JPL).

Jindal Steel and Power (JSPL) had earlier announced accepting a Rs 3,015 crore offer from Worldone to divest 96.42 per cent stake it holds in the subsidiary company JPL. The divestment is in line with JSPL’s strategic objective to continuously reduce its debt and carbon emissions and focus on steel business.

JSPL is one of India’s fastest growing and largest integrated steel manufacturers, significantly present in Steel, Power Generation and Infrastructure segments and catering to a large part of India’s domestic energy and infrastructure requirement.

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