Stock Report

JSW Steel Limited restructures US coal operations



Posted On : 2021-12-03 11:19:53( TIMEZONE : IST )

As part of JSW Steel Limited's overall efforts to restructure and consolidate its US Coal operations and holding structure, the following step-down subsidiary companies of the Company, operating at West Virginia, USA, have been merged with their respective holding Companies effective December 2, 2021:

1) Keenan Minerals, LLC, R.C. Minerals, LLC and Peace Leasing, LLC with its Holding Company Purest Energy, LLC

2) Periama Handling, LLC and Rolling S Augering, LLC with its Holding Company Planck Holdings, LLC

3) Prime Coal, LLC with its Holding Company Periama Holdings LLC

The above restructuring and consolidation exercise does not entail any sale of the Company's overseas assets / investments and the Company continues to have the same economic interests in its operations in U.S.

Shares of JSW Steel Limited was last trading in BSE at Rs. 647.00 as compared to the previous close of Rs. 637.00. The total number of shares traded during the day was 116721 in over 2628 trades.

The stock hit an intraday high of Rs. 648.50 and intraday low of 631.00. The net turnover during the day was Rs. 74641193.00.

Source : Equity Bulls

Keywords

JSWSteelLimited INE019A01038 USCoalOperations Restructuring HoldingStructure