JSW Steel Share Price Live Updates: JSW Steel's Price Update
Stay up-to-date with the JSW Steel Stock Liveblog, your comprehensive source for real-time updates and detailed analysis on a prominent stock. Explore the latest information on JSW Steel, including: Last traded price 1014.5, Market capitalization: 247064.21, Volume: 264520, Price-to-earnings ratio 70.66, Earnings per share 14.33. Our liveblog provides a comprehensive overview of JSW Steel by integrating fundamental and technical indicators. Stay informed about breaking news that can impact JSW Steel's performance in the market. Our expert analysis and stock recommendations empower you to make well-informed financial decisions. Join us on this journey as we delve into the exciting world of JSW Steel and its market potential. The data points are updated as on 10:09:08 AM IST, 25 Jun 2025
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Indian Express
2 hours ago
- Indian Express
Bhushan Power deal rejection: JSW Steel files review petition in Supreme Court
JSW Steel has filed a review petition in the Supreme Court challenging its May 2 ruling that rejected the company's Rs 19,700-crore resolution plan for Bhushan Power and Steel Ltd (BPSL) and directed liquidation of the debt-ridden firm. In a filing to the stock exchanges on Wednesday, JSW Steel confirmed that it had submitted the petition on June 25. The move comes nearly two months after the apex court overturned the company's acquisition of BPSL, which had been completed in 2020 under the Insolvency and Bankruptcy Code (IBC) framework. Some of the lenders to BPSL have also filed separate review petitions. The court's decision has raised concerns over the finality of resolution processes under the IBC and the fate of already-implemented plans. The May 2 ruling not only nullified JSW Steel's resolution plan for BPSL but also ordered the company's liquidation, despite the transaction having been executed and the steelmaker taking operational control. While ordering the liquidation, the biggest in the corporate history, a bench of Justice Bela Trivedi and Justice Satish Chandra Sharma lambasted the delay on the part of JSW Steel to implement the resolution plan and said the Committee of Creditors (CoC) failed to exercise its commercial wisdom while approving the Resolution Plan. SC had said JSW even after the approval of its plan by the NCLAT, wilfully contravened and not complied with the terms of the said approved Resolution Plan for a period of about two years, which had frustrated the very object and purpose of the IBC, and consequently had vitiated the CIR proceedings of the corporate debtor-BPSL. 'In the instant case, JSW did not implement the Resolution Plan for about two years since its approval by the NCLAT, though there was no legal impediment in implementing the same. Such flagrant violation of the terms of the Resolution Plan, has frustrated the very object and purpose of the Code,' the Supreme Court had said. After obtaining the approval of its Resolution Plan from CoC by presenting a rosy picture, misguiding the CoC, and defeating the rights of other resolution applicants, JSW did not respect and honour the said commitments, the SC said. On the contrary, it tried its level best to delay the implementation of the Resolution Plan without any cogent reason or justification, the order said.
Time of India
5 hours ago
- Time of India
JSW Steel moves Supreme Court, seeks rehearing on ₹19,300 cr Bhushan Power deal blow
JSW Steel has approached the Supreme Court. It seeks a review of the May 2nd order. The order had scrapped its acquisition of Bhushan Power and Steel. This acquisition was four years in the making. BPSL lenders, including Punjab National Bank and State Bank of India, also filed a similar petition. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Popular in Ind'l Goods/Svs 1. JSW Steel files review petition before SC on Bhushan Power deal collapse Sajjan Jindal-led JSW Steel on Wednesday approached the Supreme Court seeking review of its May 2 judgment that scrapped its acquisition of debt-laden Bhushan Power and Steel (BPSL) after four petition was moved last week by the BPSL lenders that included the Punjab National Bank and the State Bank of India In compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulations, 2015, the company informed the National Stock Exchange about filing of the review on review filed by the Karanjawala and Company on behalf of JSW comes after the apex court had on May 26 ordered status quo on the liquidation proceedings of bankrupt BPSL, giving a big relief to JSW Steel , which had warned that the liquidation would be 'fatal' to it and other stakeholders, including lenders and status quo would operate till the SC decided the review petition filed by JSW Steel against the May 2 judgement that rejected the former's Rs 19,300-crore resolution plan for BPSL, citing non-compliance with rules, the apex court said in its May Steel had asked the Supreme Court to keep the liquidation of BPSL in 'abeyance' before the National Company Law Tribunal ( NCLT ) till the company exhausted all its legal remedies as liquidation of the bankrupt firm might 'jeopardise' its review May 2 ruling had scrapped JSW Steel's acquisition of BPSL after four years on the grounds that the resolution plan was 'illegal' and 'in gross violation' of the Insolvency and Bankruptcy Code (IBC). While directing the NCLT to initiate liquidation proceedings against BPSL, the court had directed that payments made to financial and operational creditors and the equity contribution by JSW Steel be refunded within two months, as undertaken by the lenders to the bankrupt owed more than Rs 47,000 crore to lenders when the Reserve Bank of India put it on a bankruptcy resolution list in 2017. The NCLT began the resolution process in July that year, based on the filing of lead lender Punjab National Bank , which initiated criminal proceedings in 2019 against former directors of the company after unearthing a Rs 3,800 crore fraud on its books. PNB and SBI led the committee of creditors (CoC). JSW Steel acquired BPSL in March 2021 after its proposal was approved by the CoC and the National Company Law Appellate Tribunal (NCLAT).The NCLT approved JSW Steel's offer in 2019 while holding that the successful bidder could not be held responsible for any alleged misdeeds of the previous promoters at any stage. The NCLAT had upheld the decision in February 2020.
Time of India
5 hours ago
- Time of India
JSW Steel returns to Supreme Court furnace, seeks rehearing on ₹19,300 cr Bhushan Power deal blow
Sajjan Jindal-led JSW Steel on Wednesday approached the Supreme Court seeking review of its May 2 judgment that scrapped its acquisition of debt-laden Bhushan Power and Steel (BPSL) after four years. Similar petition was moved last week by the BPSL lenders that included the Punjab National Bank and the State Bank of India . In compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulations, 2015, the company informed the National Stock Exchange about filing of the review on Wednesday. The review filed by the Karanjawala and Company on behalf of JSW comes after the apex court had on May 26 ordered status quo on the liquidation proceedings of bankrupt BPSL, giving a big relief to JSW Steel, which had warned that the liquidation would be 'fatal' to it and other stakeholders, including lenders and workers. The status quo would operate till the SC decided the review petition filed by JSW Steel against the May 2 judgement that rejected the former's Rs 19,300-crore resolution plan for BPSL, citing non-compliance with rules, the apex court said in its May order. JSW Steel had asked the Supreme Court to keep the liquidation of BPSL in 'abeyance' before the National Company Law Tribunal ( NCLT ) till the company exhausted all its legal remedies as liquidation of the bankrupt firm might 'jeopardise' its review petition. The May 2 ruling had scrapped JSW Steel's acquisition of BPSL after four years on the grounds that the resolution plan was 'illegal' and 'in gross violation' of the Insolvency and Bankruptcy Code (IBC). While directing the NCLT to initiate liquidation proceedings against BPSL, the court had directed that payments made to financial and operational creditors and the equity contribution by JSW Steel be refunded within two months, as undertaken by the lenders to the bankrupt firm. BSPL owed more than Rs 47,000 crore to lenders when the Reserve Bank of India put it on a bankruptcy resolution list in 2017. The NCLT began the resolution process in July that year, based on the filing of lead lender Punjab National Bank, which initiated criminal proceedings in 2019 against former directors of the company after unearthing a Rs 3,800 crore fraud on its books. PNB and SBI led the committee of creditors (CoC). JSW Steel acquired BPSL in March 2021 after its proposal was approved by the CoC and the National Company Law Appellate Tribunal (NCLAT). The NCLT approved JSW Steel's offer in 2019 while holding that the successful bidder could not be held responsible for any alleged misdeeds of the previous promoters at any stage. The NCLAT had upheld the decision in February 2020. Economic Times WhatsApp channel )
