JSW Steel rises on hiking stake in VTPL to 50%

JSW Steel is currently trading at Rs. 1027.85, up by 13.35 points or 1.32% from its previous closing of Rs. 1014.50 on the BSE. The scrip opened at Rs. 1015.00 and has touched a high and low of Rs. 1029.85 and Rs. 1007.00 respectively. So far 18078 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1084.50 on 10-Apr-2014 and a 52 week low of Rs. 451.50 on 19-Aug-2013. Last one week high and low of the scrip stood at Rs. 1084.50 and Rs. 996.20 respectively. The current market cap of the company is Rs. 24694.32 crore. The promoters holding in the company stood at 38.45% while Institutions and Non-Institutions held 23.29% and 38.27% respectively. JSW Steel has further acquired equity stake in Vallabh Tinplate (VTPL) on April 15, 2014 raising its stake to 50%. The company had earlier on April 07, 2014 acquired 26% equity stake in VTPL. Vallabh Tinplate is currently operating a 60,000 MT per annum tinplate manufacturing facility in Beopror Village, Rajpura, Patiala District in the state of Punjab in India. VTPL is owned by Vardhaman Industries (VIL) along with its promoters.  JSW Steel is part of the JSW group which, in turn, is a part of the O P Jindal group. JSW Steel is one of the largest steel manufacturing companies in India having units in Karnataka and Maharashtra producing crude steel, long steel and flat steel products.