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JSW Steel Enters Into A Joint Venture With JFE Steel Corporation

13 February 20243 mins read by Angel One
This collaboration is a milestone development, as it would be the first company to have end-to-end manufacturing of Grain Oriented Electrical Steel products in India.
JSW Steel Enters Into A Joint Venture With JFE Steel Corporation
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About the Joint Venture

JSW Steel has entered into a 50:50 joint venture (JV) with JFE Steel Corporation, Japan for the production of Grain Oriented Electrical Steel in India. The new company JSW Electrical Steel, to be renamed JSW JFE Electrical Steel, will have its manufacturing base in District Bellary, Karnataka, and will be set up with a planned investment of Rs 5,500 crore. The facility is targeting to commence production in the fiscal year 2027 and plans to further expand its capacity to meet the growing market demand for grain-oriented electrical steel in India.

This collaboration is a milestone development, as it would be the first company to have end-to-end manufacturing of Grain Oriented Electrical Steel products in India. The JV Company aspires to cater to the surging domestic demand for Grain Oriented Electrical Steel and contribute significantly to the country’s energy infrastructure. Grain-oriented electrical steel plays a pivotal role in the production of energy-efficient transformers. Whether in laminated, wound, or punched sheet form, it serves as the essential core material for distribution transformers, power transformers, and small transformers.

Company profile

JSW Steel Limited is an India-based holding company primarily engaged in the manufacturing and sale of iron and steel products. It operates as an integrated manufacturer with facilities located at Vijayanagar Works in Karnataka, Dolvi Works in Maharashtra, Salem Works in Tamil Nadu, and additionally in the United States of America and Italy. The company also features a plate and coil mill division in Anjar, Gujarat.

JSW Steel offers a diverse range of steel products, including hot rolled, cold rolled, bare and pre-painted galvanized, and Galvalume, as well as thermo-mechanically treated (TMT) rebars, wire rods, and special steel. The company provides coated steel products with anti-corrosive properties, catering to various brands such as GI (Vishwas), GL (Silveron), Color Coated (Everglow, Colouron+, Pragati+), and OEM products (Radiance).

Stock price movement

Today, the stock opened at Rs 811.95 and has touched a high and low of Rs 812.50 and Rs 790.80, respectively. The BSE group ‘A’ stock of face value of Rs 1 has a 52-week high and low of Rs 895.60 and Rs 649.75, respectively. Last week’s high and low of the scrip stood at Rs 843.95 and Rs 790.80, respectively. The current market cap of the company is Rs 1,98,338.54 crore.

The promoters holding in the company stood at 44.81%, while Institutions and Non-Institutions held 36.32% and 18.88% respectively.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.

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