JSW Steel Ltd Share Price – NSE  / BSE

Steel, Mid Cap

JSW Steel announced that its wholly owned subsidiary, JSW Steel (Netherlands) B.V has completed the acquisition of 66.67% economic interest in M Res NSW by way of acquisition of its non-voting Class B shares.

M Res NSW owns a 30% interest in Golden M NSW (Golden M), the proposed ultimate owner of Illawarra Coal Holdings(Illawarra Metallurgical Coal).

The transaction for sale of Illawarra Metallurgical Coal by South32 to Golden M is expected to close in September 2024.

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Crude steel production in July 2023 was 20.39 lakh tonnes.

The company’s India division has recorded steel production volume of 21.40 lakh tonnes in July 2024, up 13% YoY. Further, the capacity utilisation level at the company’s Indian operations for the period under review stood at 91%.

Ohio-based JSW Steel USA has reported steel production volume of 0.75 lakh tonnes for July 2024 as against 0.67 lakh tonnes for July 2023.

JSW Steel, the flagship business of the diversified JSW Group, is India's leading integrated steel company.

The company had reported 64.29% decline in consolidated net profit to Rs 867 crore in Q1 FY25 as compared with Rs 2,428 crore posted in same quarter last year. Revenue from operations rose 1.73% year on year (YoY) to Rs 42,943 crore in the quarter ended June 2024.

The scrip rose 0.91% to currently trade at Rs 894.45 on the BSE.

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JSW Steel reported consolidated Crude Steel production for the month of July'24 at 22.15 lakh tonnes. The total Crude Steel production was higher by 9% YoY.

Capacity utilisation at Indian Operations stood at 91% for July'24.

The break-up of production is as below: (lakh tonnes)

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JSW Steel due to un-economic operation, has submitted a notice for surrender of mining lease on 03 August 2024 as per applicable laws, in respect of one mine, namely Jajang Iron Ore Block located in the district of Keonjhar, Odisha, out of the 4 iron Ore Mining leases in the State of Odisha which were acquired through auction in 2020. The proposed surrender of the aforesaid mining lease is subject to requisite approvals.

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