JSW Investments buys additional stake in JSW Steel for Rs 11cr

NEW DELHI: JSW Steel today said one of its promoter groups JSW Investments Pvt Ltd has hiked stake in the company to 3.59 per cent by acquiring additional shares worth Rs 11 crore.

JSW Investments purchased 1.57 lakh shares worth Rs 11.04 crore last week, JSW Steel said in a filing to the BSE.

The promoter group entity bought 1,47,500 shares on March 7 and another 9,500 shares on March 9. These purchases were made through the National Stock Exchange.

After this acquisition, the holding of JSW Investments in JSW Steel has increased to 3.59 per cent.

At the end of the last quarter ending December 31, 2011, JSW Investments had 2.94 per cent stake in JSW Steel.

Shares of JSW Steel closed Rs 764.35, up 2.27 per cent from the previous close on the BSE.