JSW Steel and JSW Ispat are into manufacturing and sale of steel products while Creixent Special Steels (CSSL) is in the business of holding investments.
While the production of flat products grew by 17 percent at 2.57 MT during the October-December quarter, the production of long products saw a nine per cent decline to 0.44 MT.
JSW Steel today said its shareholders have approved merger of JSW Ispat Steel with itself, paving the way for the company to become second largest steel producer in the country.
An improved demand scenario at the end of December quarter may partly boost JSW Steel‘s overall Q3 performance, say analysts. However, key factors like lower plant utilisation levels due to iron ore shortage along and mining ban in Goa and Karnataka are likely to bloat operating cost of the company.
Shareholders of JSW Ispat will meet on January 30 to approve company's proposed merger with JSW Steel, which was announced in September last year.
Angel Broking has maintained neutral rating on JSW Steel in its September 3, 2012 research report. According to research firm, it is challenging to quantify the impact on JSW Steel‘s financials given the uncertainty on the timelines and production quantity.
As the category 'A' mines received a nod from the Supreme Court, Seshagiri Rao, joint MD and Group CFO of JSW Steel said it is a welcome step and the company was eagerly looking forward to it.
VK Sharma of HDFC Securities feels that one can prefer Hindustan Zinc to JSW Ispat Steel.
JSW Steel has approved the merger of the debt-laden steel firm JSW Ispat (erstwhile Ispat Industries) with itself on Saturday.
The much awaited merger between JSW Steel and JSW Ispat is expected tomorrow.
JSW Steel is likely to merge JSW Ispat, the loss-making subsidiary that was acquired in December 2010, with itself and an announcement is expected to be made within 15-20 days, sources said.
JSW Steel is likely to merge JSW Ispat with itself and an announcement is likely in 2-3 weeks.
In CNBC-TV18's popular show Bull's Eye, Ashish Tater, Fort Share Broking shares trading strategy of the day.
Steel major JSW Steel today said it expects to merge JSW Ispat with itself once the loss-making subsidiary becomes profitable.
State Bank of India (SBI) is going to refinance Rs 3000-4000 crore of the total of Rs 9500 crore debt of JSW Ispat, reports Business Standard. It touched an intraday high of Rs 2,645 and an intraday low of Rs 2,595.10. At 12:23 hrs the share was quoting at Rs 2,600.70, down Rs 17.40, or 0.66%.