JSW Steel is trading higher by 4% at Rs 1,034 after the company said that Raigad Unit of Heidelberg Cement India has been transferred to the company with effect from the end of business hours on January 3, 2014.
JSW Steel had entered into a business transfer agreement on Ocotber 5, 2013 with Heidelberg Cement India Ltd for acquisition of its cement grinding facility at Raigad, Maharashtra, as a going concern on a slump sale basis.
In terms of the business transfer agreement, the Raigad undertaking has been transferred to the company with effect from the end of business hours on January 3, 2014, JSW Steel said in a statement.
The stock opened at Rs 995 and hit a 1,041, its highest level since January 2011 on the BSE. A combined around 500,000 shares have changed hands on the counter till early noon deals on the BSE and NSE.
JSW Steel had entered into a business transfer agreement on Ocotber 5, 2013 with Heidelberg Cement India Ltd for acquisition of its cement grinding facility at Raigad, Maharashtra, as a going concern on a slump sale basis.
In terms of the business transfer agreement, the Raigad undertaking has been transferred to the company with effect from the end of business hours on January 3, 2014, JSW Steel said in a statement.
The stock opened at Rs 995 and hit a 1,041, its highest level since January 2011 on the BSE. A combined around 500,000 shares have changed hands on the counter till early noon deals on the BSE and NSE.
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