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JFE Steel to buy 10% stake in JSW Steel for 30-50 bn Yen
JSW Steel has touched a 52 week high of Rs 1,007.80. JFE Steel will acquire 10% stake in JSW Steel for 30-50 billion Yen, reports CNBC-TV18, qouting Agencies.
JSW Steel has touched a 52 week high of Rs 1,007.80. At 11:10 am the share was quoting at Rs 996.80, up Rs 31.15, or 3.23%. It has touched an intraday high of Rs 1,007.80 and an intraday low of Rs 967.
JFE Steel will acquire 10% stake in JSW Steel for 30-50 billion Yen, reports CNBC-TV18, qouting Agencies.
(30-50 billion Yen translates to Rs 1560-2600 crore. JSW Steel's current market cap at Rs 18,700 crore.)
It was trading with volumes of 779,208 shares. Yesterday the share closed up 4.03% or Rs 37.45 at Rs 965.65.
