JSP's Promoter Group Companies, part of the Naveen Jindal Group, have fully repaid the loan against shares

The Promoter group companies owned by Mr Naveen Jindal and his family directly or indirectly have paid all its loan liabilities against Shares of JSP.

JSP has been informed that Promoter Group Companies that are part of Naveen Jindal Group, namely OPJ Trading Pvt Ltd, Opelina Sustainable Services Pvt Ltd. and Gagan Infraenergy Ltd. have fully repaid all the outstanding loans against shares. Through this repayment, the loan against share (LAS) for the Naveen Jindal Group now stands at Nil.

The loan repayment has been a part of the group's deleveraging strategy. The peak Loan against shares was approximately Rs. 1140 cr during Oct'18 which has been reduced to Nil.

Shares of Jindal Steel & Power Limited was last trading in BSE at Rs. 543.40 as compared to the previous close of Rs. 544.40. The total number of shares traded during the day was 38649 in over 1569 trades.

The stock hit an intraday high of Rs. 547.80 and intraday low of 537.30. The net turnover during the day was Rs. 20934526.00.

Source : Equity Bulls

Keywords

JindalSteelandPower INE749A01030 JSP PromoterGroup LoanAgainstShares Repaid