JSW Steel plans to expand its steel production capacity to 40 million tonnes per annum.
This is Mumbai-based JSW Steel’s second acquisition in 2014. In March, the Sajjan Jindal-led company had acquired a 50 per cent stake in Punjab-based Vallabh Tinplate for Rs 46 crore, marking its foray into the latter segment.
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Welspun Maxsteel has an installed capacity of 0.90 MTPA gas based DRI plant, with a captive jetty and captive railway siding, JSW Steel said in a release.
The stock opened at Rs 1,291 and touched a high of Rs 1,299 so far. Over 533,000 shares were traded so far on both the stock exchanges.
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