JSW Steel Limited
BOM:500228 ISIN:INE019A01020
JSW Steel Limited (JSW) is engaged in the production and distribution of iron and steel products. The Company, through its subsidiaries, is engaged in acquisition and investment in steel related and steel allied businesses, trading in steel products, steel service center, mining, manufacturing plates, pipes and double jointing, pre-fabricated building systems and technologies, and steel plant. The Company operates in two segments: Steel and Power. During the year ended March 31, 2008, the Company acquired 100% interest in JSW Steel Service Centre (UK) Limited through JSW Steel (UK) Limited and Argent Independent Steel (Holdings) Limited. On October 13, 2008, JSW Building Systems Limited (JSWBSL) became a wholly owned subsidiary of the Company.
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Asian shares received mixed lead from Wall Street. Friday the US market closed flat after better-than-expected US retail sales and slightly lower consumer sentiment data. Meanwhile, financial shares erased some of their gains after rallies last week. Asian markets also closed mixed Friday. Japan's Nikkei was 0.8 per cent higher, led by Japanese exporters. But Shanghai and Hong Kong markets dropped as banks and mainland based real estate shares were hit by concerns over policy tightening amid rising inflation. Shanghai Composite fell to nearly a three week low.
Asian markets mostly edged higher on Thursday in the morning. Japan's Nikkei Stock Average fell below 9600 points level for the first time in about four months. Nikkei eased its early gains after a real estate company Tokyo Tatemono said it will issue new shares to raise up to 45.64 billion yen. The Korean market was up on Thursday led by gains in key technology companies.
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