JSW Green Steel Ltd has now become its wholly-owned subsidiary, the company said. "The new entity has been incorporated for manufacturing of hot-rolled and cold-rolled products of steel, which is in line with the main line of business of the company," JSW Steel said.
JFS shares climbed 14.50 per cent to hit a record high of Rs 347 on BSE. The stock later traded at Rs 330.70, up 9.12 per cent. At this price, JFS was valued at Rs 2,10,325.47 crore against its previous day's market value of Rs 1,92,536.28 crore.
Fulfilling capex plans will require at least ₹1 trillion, with the company reportedly seeking loans exceeding $750 million. There is a lot at stake over the next five years as the company looks to scale up
As many as 234 companies, excluding banks and financial services, saw operating profit or EBITDA, growing faster than sales on a year-on-year (YoY) basis in each of the last three quarters of the current financial year, a screener run by ETMarkets showed.