JSW Steel shares surge almost 1% after NSL Green Steel Recycling stake acquisition. The acquisition involved purchasing the entire 50% stake from National Steel Holding (NSHL).
This purchase elevates JSW Steel’s shareholding in NSL to 100%, making it a wholly-owned subsidiary. JSW Steel, a prominent steel manufacturer, reported a strong 10.83% YoY increase in revenue for April-June quarter. Net profit surged by an impressive 189.39% YoY during the same period, with expanded operating profit margins surged.
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