
JSW to buy 35% stake in MG Motor India
China's SAIC Motor and JSW joint venture will pursue the development of the electric vehicle (EV) ecosystem in India.
China's SAIC Motor and JSW joint venture will pursue the development of the electric vehicle (EV) ecosystem in India.
The largecap stock, which made its debut on October 3, 2023, rose 10% to touch a fresh all-time high of ₹188.75 on the BSE today.
Sajjan Jindal has steered JSW Steel through domestic and global headwinds, increased capacity and acquired new businesses, to turn the company into the country’s largest steelmaker.
Post listing, the shares of the ports arm of Sajjan Jindal-led JSW Group gained 28.4% to hit a high of ₹152.8 on the BSE and NSE, while the m-cap rose to ₹31,920 crore.
Many analysts recommend a "subscribe" rating to IPO, based on the company's strong financial performance and valuation
JSW Investments sold 2.1 crore equity shares, or 1.28% stake in JSW Energy, at a price of ₹341.7 per share through open market transactions
JSW Steel targets 37 MT a year capacity by March 2025, while Tata Steel wants to double to 40 MT by 2030
The O.P. Jindal Group company intends to use IPO proceeds to retire its debt as well as to fund its capacity expansion projects.
A day earlier, a source of JSW Group told Fortune India that negotiations are on with multiple car markers but nothing has been finalised.
India's biggest steel maker is in negotiations with Chinese carmakers to acquire a stake, as the latter finds it difficult to raise fresh funds amid increased scrutiny of fund inflows from Beijing