JSW Steel is a leading producer of steel in India with an installed capacity of 18 MTPA. As part of its growth strategy, while expanding its capacities through brownfield expansions, it is also evaluating opportunities for inorganic growth. In pursuance to this strategy, JSW Steel in the capacity of an investor joined Nu Metal & Steel Pvt in submitting a binding bid for Essar Steel, which is under the corporate insolvency resolution process as per the provisions of Insolvency Bankruptcy Code 2016.
Shares of the company declined Rs 1.85, or 0.62%, to trade at Rs 294.90. The total volume of shares traded was 32,486 at the BSE (10.04 a.m., Tuesday).