JSW Steel rose 1.24% to Rs 925.15 at 13:04 IST on BSE after the fair trade regulator Competition Commission of India has approved the acquisition of HeidelbergCement India's cement grinding facility at Raigad, Maharashtra, by JSW Steel.
Meanwhile, the S&P BSE Sensex was up 33.24 points or 0.16% at 20,692.76.
On BSE, so far 62,000 shares were traded in the counter as against average daily volume of 1.53 lakh shares in the past one quarter.
The stock hit a high of Rs 933.40 and a low of Rs 913 so far during the day. The stock had hit a 52-week high of Rs 953.45 on 10 December 2013. The stock had hit a 52-week low of Rs 451.50 on 19 August 2013.
The stock had outperformed the market over the past one month till 16 December 2013, advancing 5.65% compared with the Sensex's 1.28% rise. The scrip had also outperformed the market in past one quarter, jumping 39.6% as against Sensex's 4.65% rise.
The large-cap company has equity capital of Rs 241.72 crore. Face value per share is Rs 10.
Fair trade regulator Competition Commission of India (CCI) has approved the acquisition of HeidelbergCement India's cement grinding facility at Raigad, Maharashtra, by JSW Steel. It may be recalled that JSW Steel had executed a business transfer agreement in October this year for the acquisition of HeidelbergCement India's cement grinding facility at Raigad, Maharashtra, as a going concern on slump sale basis.
JSW Steel reported a consolidated net loss of Rs 115.55 crore in Q2 September 2013 as against net profit of Rs 691.25 crore in Q2 September 2012. Net sales rose 35% to a record Rs 12796.26 crore in Q2 September 2013 over Q2 September 2012.
JSW Steel, belonging to the JSW group, part of the O P Jindal Group, is one of the lowest cost steel producers in the world. The group has diversified interest in mining, carbon steel, power, industrial gases, pon facilities, aluminum, cement and information technology. JSW Steel Limited is engaged in manufacture of ?at and long products viz. H R Coils, CR Coils, Galvanised products, Galvalume products, Colour coated products, auto grade / white goods grade CRCA Steel, Bars and Rods. Incorporated in 1994, it has grown to about US $11 billion in little over fifteen years. JSW Steel Limited is one of the largest producers and exporters of coated flat products in the country with presence in over 100 countries across five continents.
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