JSW Steel to explore buy back of FCCBs

JSW Steel Ltd has announced that the Board of Directors of the Company at its meeting held on January 28, 2009, inter alia, has resolved to explore opportunities to buy back a portion of the Company's outstanding Foreign Currency Convertible Bonds (FCCBs). Such buy back shall be effected subject to applicable laws & regulations, availability of funds and prevalent market conditions.

The stock closed the day at Rs.204.50, up by Rs.10.55 or 5.44%. The stock hit an intraday high of Rs.209.95 and low of Rs.178.

The total traded quantity was 822427 compared to 2 week average of 169538.

Source : Equity Bulls

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