JSPL surges as reports say company may sell its rail mill unit
Reacting to the development, the scrip gained 2.86% to hit a high of Rs 57.50 on the BSE. The stock has plunged 39% in the year so far.
By ET Online |
NEW DELHI: Shares of Jindal Steel and Power ended higher by 3.31 per cent on Wednesday after reports emerged that company is in advance talks to sell its rail mill unit.
It is in advanced discussions with Japan's Yamato Kogyo Company Ltd to sell up to 49% stake in its rail mill unit at an estimated Rs 3,000 crore, sources quoted by ET said.
Reacting to the development, the scrip gained 2.86 per cent to hit a high of Rs 57.50 on the BSE. The stock has plunged 39 per cent in the year so far.
It is in advanced discussions with Japan's Yamato Kogyo Company Ltd to sell up to 49% stake in its rail mill unit at an estimated Rs 3,000 crore, sources quoted by ET said.
Reacting to the development, the scrip gained 2.86 per cent to hit a high of Rs 57.50 on the BSE. The stock has plunged 39 per cent in the year so far.
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