JSW Steel to issue GDRs to JFE Steel; stock gains

MUMBAI: Shares of JSW Steel gained momentum after the company announced that it will issue 3,085,814 GDRs to JFE Steel Corporation, Japan, on a preferential basis. The applicable price of the equity shares of par value of Rs 10 each GDRs is Rs 1500 each

The stock was at Rs 1080.05, up 36.35 or 3.48 per cent on the BSE. It touched a high of Rs 1103.35 and low of Rs 1041 on volume of 95,000 shares.