Steel Company Acquired a 92.19 Per Cent Equity Stake in Minas De Revuboe Limitada
During the last year, the stock returned 28 percent, and over the past three years, it returned 47 percent.
JSW Steel Limited declared an extension of its long stop date concerning its acquisition of a 92.19 per cent equity stake in Minas de Revuboe Limitada. The new extended deadline for the acquisition stands on July 31, 2025, which also includes an additional possible extension period up to November 30, 2025. The Transaction Agreements underwent amendments which include a Quotas Sale Agreement and an Assignment of Contractual Position Agreement. JSW Steel announced its acquisition plans to the stock exchanges on May 17, 2024, while it operates under the close supervision of the Securities and Exchange Board of India's regulations.
JSW Steel makes this strategic move to enhance its global expansion while building its leadership within the steel market. JSW Steel functions as the flagship company of the $23 billion JSW Group to produce and distribute iron and steel products. The company produces a wide range of products that encompass hot-rolled and cold-rolled items, together with galvannealed and various specialty steel products. Construction and infrastructure, together with retail sectors, maintained the highest share of 37 per cent, followed by retail, which accounted for 33 per cent during Q3FY24. The domestic market provides JSW Steel with its strong revenue base since 93 per cent of its sales originate from local operations. During Q3FY24, JSW Steel achieved a substantial boost in its value-added steel product revenue percentage, which amounted to 60 per cent. The manufacturing capacity reaches 28.2 million tonnes across its Indian facilities where the company maintains 94 per cent capacity utilization.
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The company implements strategic growth initiatives to reach 37 million tonnes in FY25- 26, then plans to increase production to 50 million tonnes during FY30. JSW Steel maintains its commitment to innovation through new product approvals and the launch of JSW One, which serves as a B2B commerce platform to improve market penetration and customer interaction. JSW Steel maintains a market capitalization of Rs 2.60 crore. During the last year, the stock returned 28 percent, and over the past three years, it returned 47 percent. The Price-Earnings (PE) Ratio of the company amounts to 75.
Disclaimer: The article is for informational purposes only and not investment advice.