JSW Steel Ltd Share Price – NSE /  BSE

Steel, Large Cap

JSW Steel announced that the Company owned and operated coal mine in the State of West Virginia, USA, through its wholly owned step-down subsidiaries. During the previous year, the mines and preparation plant were sold due to non-viability of operations. Consequently, following step-down subsidiary companies of the Company, at West Virginia, USA, were no longer required and have been merged with their respective holding Companies effective December 18, 2024 (US time) as below:

1) Purest Energy, LLC with its Holding Company Periama Holdings LLC

2) Caretta Minerals, LLC with its Holding Company Planck Holdings, LLC

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JSW Steel Ltd fell for a fifth straight session today. The stock is quoting at Rs 924.4, down 2.37% on the day as on 13:19 IST on the NSE. The benchmark NIFTY is down around 1.06% on the day, quoting at 23942.900390625. The Sensex is at 79220.66, down 1.2%.JSW Steel Ltd has eased around 2.09% in last one month.Meanwhile, Nifty Metal index of which JSW Steel Ltd is a constituent, has increased around 2.66% in last one month and is currently quoting at 9069.9, down 1.33% on the day. The volume in the stock stood at 12.69 lakh shares today, compared to the daily average of 18.09 lakh shares in last one month.

The benchmark December futures contract for the stock is quoting at Rs 925.7, down 2.36% on the day. JSW Steel Ltd jumped 9.75% in last one year as compared to a 13.2% rally in NIFTY and a 20.59% spurt in the Nifty Metal index.

The PE of the stock is 36.51 based on TTM earnings ending September 24.

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The company received the demand order from Office of the Commissioner of GST and Central Excise, Belagavi Division, for Rs 64,47,20,900 for alleging non-payment of GST under RCM on upfront payments and monthly payments made to Government for assignment of mining rights for the period from July 2017 to July 2019 in Karnataka.

The steel major stated that it has already discharged the appropriate tax liability under reverse charge along with applicable interest and the same were disclosed in the monthly returns prior to the issuance of the show cause notice.

The company basis the judicial precedents available, believes that the penalty under Section 74(1) is not leviable. Accordingly, the aforesaid demand of penalty is proposed to be challenged in appeal.

JSW Steel also added that there is no impact on the financials, operations or other activities of the company.

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

The company’s net profit slumped 85.43% to Rs 404 crore on 10.90% decline in total revenue to Rs 39,684 crore in Q2 FY25 over Q2 FY24.

The scrip shed 0.76% to Rs 1,005.35 on the BSE.

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Indian Operations rose 7% to 22.53 lakh tonnes in November 2024 as compared with 21.14 lakh tonnes in November 2023. The capacity utilization for Indian operations in the month of November 2024 stood at 94%.

Ohio-based JSW Steel USA has reported steel production volume of 0.70 lakh tonnes for November 2024 as against 0.90 Lakh tonnes for November 2023.

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

The company’s net profit slumped 85.43% to Rs 404 crore on 10.90% decline in total revenue to Rs 39,684 crore in Q2 FY25 over Q2 FY24.

The scrip rose 0.65% to Rs 1,019.25 on the BSE.

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