JSW Steel acquires Australia’s Illawarra Metallurgical Coal by acquiring additional stake, securing supply of raw materials and increasing free international coal trade.

India’s strategies to develop industries and produce steel are greatly dependent on the stable availability of raw materials. JSW Steel is laying the foundation to justifiably make its global supply chain bigger and better. That way, it can take advantage of lower prices and assure a steady flow of resources in the long term. The company has made an important step by investing more economically in Illawarra Metallurgical Coal, Australia, to guarantee material resources and to simplify expenses in future.

The Board of JSW Steel Limited approved the acquisition at their meeting held on September 17, 2025. The investment which will be made by JSW Steel (Netherlands) B.V., a company wholly owned by JSW Steel, is worth USD 60 million, and is going to be concentrated in M Res NSW Pty Ltd., which is the holding entity for Illawarra Metallurgical Coal. They will increase their percentage of the economic interest from 20% to 30%, which would also escalate M Res NSW’s share in Golden M NSW Pty Ltd to 36%, thus allowing JSW Steel more freedom in its coal supply chain.

Strategic Significance of the Acquisition

The Australian coal mines, namely the Appin and Dendrobium coking coal mines, which are publicly owned, will be the main sources of high-quality hard coking coal to the steel industry. JSW Steel will be able to get coal in good quantity and on favorable terms by increasing its holding, thereby working in tandem with its strategic emphasis on raw material security and cost efficiency.

JSW Steel has a market-linked offtake agreement with Illawarra Metallurgical Coal and exercises the rights provided for in this contract. By raising the economic interest to 30%, the company will be able to make an equivalent coal purchase which means that they will be given more rights to coal, therefore, they will be more successful in cost management during ups and downs in the global coal market.

From a financial angle, as the company decides to undertake this purchase here of raw materials, the talk is that it will be a proactive task of JSW Steel on the international resource risk that over the long term, the company’s operations will be highly exposed to such risks. Furthermore, JSW Steel will have an obligation to pay a deferred amount accumulated by South32, a counterparty in the deal, as per the terms of the original investment, up to a maximum capital outlay of USD 75 million by 2030.

Also Read: JSW and Posco Race to Finalize Plans for 6 MTPA Odisha Steel Plant

Global Expansion and Resource Strategy

The decision that JSW Steel made is aligned with the common pattern among Indian steelmakers who are particularly looking for resource security abroad. With demand for steel picking up worldwide and supply chain becoming less stable, global takeovers such as that of Illawarra Metallurgical Coal are becoming a key factor in the feedstock market’s stability.

Moreover, this transaction is accompanied by JSW Steel’s determination to expand its investment opportunities overseas. The company carries out such cross-border deals more effectively with the help of its subsidiary in the Netherlands and at the same time is in conformance with the rules of both India and Australia.

Operational Insights: Illawarra Metallurgical Coal

Illawarra Metallurgical Coal is a company that runs the two largest coke coal mining operations (Appin and Dendrobium) in New South Wales. At the end of 2024, these mines had combined marketable reserves of about 95 million tons, which was the company’s long-term commitment to steel production inputs.

Coking coal sourced from these mines is vital to JSW Steel’s manufacture of high-grade steel primarily employed in construction, infrastructure, and the automotive industry. As a result, the company will be less exposed to price swings in the external coal market. That is to say, the company will have a better supply and cost optimization.

Financial Implications and Market Reactions

According to the financial analysts, JSW Steel purchases higher coal shares in times such as these, when the global price of met coke is volatile. Through such direct stake leveraging, the firm will have better access to lower cost purchasing which is a plus in production planning, and in turn keep their profit margins safe.

The action will most probably be considered a good one by the market players as it demonstrates a good deal of operational understanding and a successful move of making long-term values. So, the shareholders will be presented with a guarantee of improved security of the (hard) raw materials, which is among the most crucial things for the survival of the steel industry both at home and abroad.

Also Read: JSW Cement IPO Allotment Expected Today; Listing Scheduled for August 14

Corporate Governance and Regulatory Compliance

JSW Steel can be sure that the implementation of this project follows SEBI Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015, just as well as the Board meeting was held starting at 2:00 PM and ended at 2:40 PM on September 17, 2025, representing efficient decision-making processes.

The proactive contribution of the company to the information forest and the NSE illustrates the company’s pledge to openness and abidance by the structures in place in the regulatory domain which gets endorsed, likewise, by the trust of the investing public and other stakeholders in the matter.

Strategic Outlook: Raw Material Security and Growth

Aside from that, JSW Steel can become more confident in its material sourcing plan with this added share of Illawarra Metallurgical Coal and so their supply of coal for steel plants in India will be stable. Raw material security is still the foundation of the company’s idea of growth, thus in support of the up-scaling of their business and besides giving a competitive advantage through a lower cost of operations.

In addition, the JSW Steel will also take advantage in the international coal and steel markets from this transaction. What will happen is that the company can well cover the increasing demand of steel in India by securing quality coking coal and at the same time they can allow their materials to be exported so as to take advantage of the global market and make themselves more competitive.

The JSW Steel purchases are a landmark moment in the company’s strategic journey. Accomplishing an increase in economic interest from 20% to 30% for Illawarra Metallurgical Coal, JSW Steel lays emphasis on the supply of raw materials, operational efficiency, and long-term growth.

It is a perfect example of how Indian steel producers are turning to global investment to anchor their supply chains, keep expenses under control, and create value for shareholders. Through regulatory compliance, strategic foresight, and enhanced global positioning, JSW Steel sets a benchmark for resource-driven growth in India’s steel industry.

FAQ’s

READ MORE ON

Read the full article here: JSW Steel Acquires Bigger Stake in Australia’s Illawarra Coal — For more updates, visit Wittiya – Top Business News, Stock Market Insights & Financial Updates (Wittiya).

India’s stock market focus today centers on major index reshuffles, regulatory approvals, strategic expansion, fundraising, and corporate developments across key companies.

India’s equity markets are set for a volatile session today as multiple index reshuffles, regulatory developments, and corporate actions bring select stocks into the spotlight.

Index Reshuffle Impact

InterGlobe Aviation (IndiGo) and Max Healthcare are slated to be included in the Nifty 50 index at the end of September. This reshuffle highlights the rising weight of aviation and healthcare in India’s market composition. Conversely, IndusInd Bank and Hero MotoCorp will exit the benchmark index, a move expected to trigger passive fund adjustments and short-term volatility in their stock prices.

Additionally, shares of MCX, Indian Overseas Bank, JK Cement, Hexaware Technologies, and Cholamandalam Financial Services will remain active as they enter the FTSE All World Index from September 22. Analysts expect this inclusion to attract incremental foreign portfolio inflows.

Banking and Financial Sector Moves

Yes Bank gained investor attention after receiving the Reserve Bank of India’s approval for [Sumitomo Mitsui Banking Corporation’s] acquisition of up to 24.99% stake. Market experts suggest this could enhance Yes Bank’s balance sheet strength, widen credit capabilities, and improve investor sentiment in the medium term.

Corporate Developments Across Sectors

• Metals: JSW Steel disclosed a demand notice worth USD 177 million from the Odisha government, linked to despatch shortfalls. While not unusual in the mining sector, such regulatory claims tend to weigh on stock performance in the near term.
  
• Telecom & Infra: RailTel secured a USD 1.56 million consultancy project, reflecting the government’s digital infrastructure push.
  
• Energy & Infra: GMR Power & Infra announced plans to raise up to USD 360 million through securities, signaling an aggressive expansion and debt optimization strategy.
  
• Real Estate: Brigade Enterprises leased a seven-acre plot in Chennai’s OMR for a mixed-use project featuring over one million sq. ft. of office space and a 225-room five-star hotel.
  
• Hospitality: Indian Hotels outlined plans for acquisitions in Europe and Southeast Asia to strengthen global presence, aligning with India’s growing outbound tourism and hospitality demand.
  
• Automobiles: TVS Motor reappointed Venu Srinivasan to its board, reinforcing leadership continuity as the company advances in electric mobility.
  

Also Read: India Opens Doors for Foreign Stake in Key Private Bank

Market Insight

Experts note that today’s developments underline three major trends:

1. Sector Rotation: Healthcare and aviation gaining prominence over traditional sectors like banking and automobiles.
   
2. Global Integration: FTSE index inclusions reflecting India’s growing role in global equity benchmarks.
   
3. Capital Strengthening: Banks and infrastructure companies continuing to raise funds to sustain growth momentum.
   

Overall, analysts expect these updates to set the tone for short-term market sentiment while reinforcing long-term structural shifts in India’s economy.

READ MORE ON

Read the full article here: Today’s Trade Alert: Big Market Exits and Entries You Can’t Miss — For more updates, visit Wittiya – Top Business News, Stock Market Insights & Financial Updates (Wittiya).

India’s steel sector gains as Tata Steel, JSW Steel, SAIL, and JSPL shares rise following DGTR’s recommendation of a three-year safeguard duty to shield domestic producers from import surges.

Shares of India’s leading steelmakers, including Tata Steel, JSW Steel, SAIL, and JSPL, gained up to 3% on Monday, responding positively to the Directorate General of Trade Remedies (DGTR) recommendation to impose a safeguard duty on steel imports.

The DGTR, operating under India’s Ministry of Commerce, recommended a safeguard duty on certain flat steel products for three years, starting at 12% in the first year, tapering to 11.5% in the second and 11% in the third year. This measure aims to protect domestic manufacturers from the impact of sudden import surges.

Also Read: JSW and Posco Race to Finalize Plans for 6 MTPA Odisha Steel Plant

The move follows DGTR’s final probe, which concluded that increased imports of non-alloy and alloy steel flat products had caused serious injury to India’s domestic steel industry. The Indian Steel Association filed the complaint prompting this investigation, highlighting the sharp rise in imports, particularly from China, which reached 110.7 million MT in 2024—a 25% increase from the previous year.

Domestic production costs for steel, including hot-rolled coils, have remained significantly higher than imported material even after duties, affecting profit margins for local producers. Tata Steel, JSW Steel, SAIL, and JSPL are expected to benefit from the safeguard duties, which will bolster domestic competitiveness and revenue outlook.

Analysts note that while the duties support local manufacturers, they also raise potential concerns for downstream industries reliant on imported steel. However, from a stock market perspective, the recommendation provided immediate investor optimism, reflected in the up to 3% intraday gains across major steel stocks.

India’s steel sector continues to navigate global supply dynamics, tariff policies, and domestic production costs, with safeguard measures acting as a critical lever to stabilize the industry.

READ MORE ON

Read the full article here: DGTR Safeguard Duty Sparks Immediate Rally in Steel Stocks — For more updates, visit Wittiya – Top Business News, Stock Market Insights & Financial Updates (Wittiya).

India’s JSW Steel and South Korea’s Posco Group sign a non-binding agreement to explore a 6 MTPA steel plant in Odisha. The venture aims to strengthen India’s steel capacity and global competitiveness, pending feasibility studies and regulatory approvals.

India’s JSW Steel Ltd and South Korea’s Posco Group have signed a non-binding Heads of Agreement (HoA) to jointly explore the development of a 6 million tonnes per annum (MTPA) integrated steel plant through a 50:50 joint venture.

The HoA, signed in Mumbai, paves the way for a detailed feasibility study that will determine the plant’s location, investment structure, and operational framework. Odisha, with its abundant natural resources and strong logistics network, is being considered as a leading contender for the project site.

Also Read: SC Orders Liquidation of BPSL, JSW Responds

If finalized, this venture will represent one of the most significant foreign collaborations in India’s steel sector. Industry experts note that the move could accelerate India’s goal of scaling its annual steel production capacity to meet both domestic demand and export opportunities, especially as global supply chains diversify.

The collaboration is expected to not only strengthen India’s industrial output but also enhance its export potential in high-grade steel products.

Lee Ju-tae, representative director and president of Posco Holdings, emphasized India’s pivotal role in global steel demand growth, stating that the partnership will support India’s industrial expansion while creating long-term value for both companies.

Analysts highlight that while the agreement remains subject to feasibility and regulatory approvals, the venture signals a growing trend of strategic global partnerships in India’s steel sector, aligning with the country’s ambition to position itself as a global steel powerhouse.

READ MORE ON

Read the full article here: JSW and Posco Race to Finalize Plans for 6 MTPA Odisha Steel Plant — For more updates, visit Wittiya – Top Business News, Stock Market Insights & Financial Updates (Wittiya).

The top three Indian family business groups—Ambani, Birla, and Jindal—have a combined worth equal to the Philippines’ GDP, underscoring their staggering economic influence.

India’s largest multi-generational business dynasties continue to dominate the country’s corporate wealth landscape, with the Ambani family of Reliance Industries leading the charts. Alongside the Birla family of Aditya Birla Group and the Jindal family of JSW Group, the top three collectively command a valuation of USD 471 billion — a figure matching the GDP of the Philippines.

The Ambani family alone holds an estimated valuation of USD 339 billion, representing nearly one-twelfth of India’s GDP. The Birla family follows with USD 78 billion, while the Jindal family stands at USD 68 billion. Together, these business empires employ hundreds of thousands and generate significant tax revenues, underscoring their central role in India’s economic framework.

Expanding Wealth Base

The top 300 Indian family businesses are now worth an estimated USD 1.6 trillion — more than the combined GDP of Turkey and Finland. The top 10 families account for almost half of this value, featuring industrial heavyweights such as the Bajaj family of Bajaj Group, the Mahindra family of Mahindra & Mahindra, the Nadar family of HCL Technologies, the Murugappa family of Cholamandalam Investment & Finance, Wipro’s Premji family, Anil Agarwal’s family operating Hindustan Zinc, and Asian Paints’ managing families — Dani, Choksi, and Vakil.

The most valuable unlisted family business is the Haldiram family, with a valuation of USD 10.3 billion. The Wadia family, valued at USD 19 billion, remains India’s oldest continuously family-run enterprise.

Also Read: Here’s How Much Each Ambani Earned This Year

Sectoral Dominance & Trends

Industrial products lead in representation with nearly 50 entries in the top rankings, while the automobile and auto component sector boasts the highest average valuation at USD 6.3 billion per company. Pharmaceuticals is another strong segment, averaging USD 5 billion per business.

These trends reflect India’s evolving economic strengths, with manufacturing, automotive innovation, and pharmaceutical exports at the forefront of global competitiveness. Financial experts note that the predominance of listed entities among top family businesses enhances transparency and institutional governance, making them more attractive to both domestic and global investors.

First-Generation Titans

While multi-generational legacies dominate the list, first-generation success stories are also making their mark. The Adani family, headquartered in Ahmedabad, is valued at USD 169 billion — almost half the Ambani valuation. The Poonawalla family of Serum Institute of India ranks second among first-generation businesses with USD 27.5 billion.

Women at the Helm

There is a rising wave of female leadership within India’s family-run enterprises. The Godrej family, valued at USD 3.6 billion, has four women in key roles, while companies like Asahi India Glass, CRI Pumps, Parle Agro, and Oswal Agro Mills each have three women actively involved in leadership.

Among these, HCL Technologies’ Roshni Nadar Malhotra stands out as one of the most influential female leaders, with the family’s business valued at USD 56 billion.

READ MORE ON

Read the full article here: Value of Top 3 Indian Family Businesses Matches Philippines’ GDP — For more updates, visit Wittiya – Top Business News, Stock Market Insights & Financial Updates (Wittiya).

In India, the former promoters of Bhushan Power and Steel Ltd (BPSL) are urging the Supreme Court to allow a fresh insolvency process instead of liquidation. This follows the court’s May 2 decision rejecting JSW Steel’s resolution plan and directing liquidation proceedings to begin.In India, the former promoters of Bhushan Power and Steel Ltd (BPSL) are urging the Supreme Court to allow a fresh insolvency process instead of liquidation. This follows the court’s May 2 decision rejecting JSW Steel’s resolution plan and directing liquidation proceedings to begin.

The ongoing legal dispute surrounding Bhushan Power and Steel Ltd (BPSL) intensified as the company’s former promoters presented their arguments before a Special Bench of the Supreme Court, urging the initiation of a fresh Corporate Insolvency Resolution Process (CIRP) instead of proceeding with liquidation. The review hearing follows a landmark ruling on May 2 that not only rejected JSW Steel’s resolution plan but also directed the National Company Law Tribunal (NCLT) to begin liquidation proceedings under the Insolvency and Bankruptcy Code (IBC).

Supreme Court Review Pivotal for BPSL’s Future

The former promoters, represented by senior legal counsel, emphasized that liquidation should be treated as a last resort, especially considering the scale and performance of BPSL. They argued that a flawed resolution plan should not automatically trigger liquidation but should instead lead to a renewed CIRP that ensures maximized asset recovery and continued business operations.

The court had earlier invoked Article 142 of the Constitution, citing the “flagrant violation” of the IBC and the CIRP regulations. It concluded that the resolution professional had failed to uphold his statutory obligations throughout the process. Consequently, the Supreme Court had ordered liquidation, sparking wide debate in India’s corporate legal and financial community.

Also Read: Supreme Court Reopens Bhushan Steel Case: What It Means for IBC

Status Quo Maintained Temporarily Amid Legal Challenge

Following its May 2 verdict, the apex court ordered a status quo on May 26 in liquidation proceedings, acknowledging the complexity of the case and allowing time for review. This temporary relief has kept BPSL’s operations intact, including its significant employment base and rising production capacity—growing from 2.5 to 4.5 million metric tonnes annually and supporting approximately 25,000 workers.

JSW, which had submitted the resolution plan, underscored the need for stability and transparency in resolution outcomes, given BPSL’s reported turnover of ₹28,000 crore (~USD 3.3 billion) in a single fiscal year. The legal deadlock has not only delayed potential acquisition but also raised concerns about the efficacy of India’s insolvency resolution framework.

Industry Perspective: Experts Warn Against Precedent Risks

Industry experts caution that the Supreme Court’s strict interpretation, while reinforcing regulatory discipline, could dissuade future resolution applicants due to unpredictability and prolonged legal risk. In high-value distressed asset cases, continuity of operations often remains a priority for economic stability, job protection, and creditor value maximization.

Legal analysts note that if liquidation proceeds without exhausting all resolution possibilities, it could affect investor confidence in India’s insolvency architecture. They argue that CIRP aims for revival, not closure, and any deviation must be scrutinized for long-term systemic impact.

READ MORE ON

Read the full article here: SC Orders Liquidation of BPSL, JSW Responds — For more updates, visit Wittiya – Top Business News, Stock Market Insights & Financial Updates (Wittiya).

India’s June 2025 quarter earnings season for Nifty 50 companies reveals stabilising trends, with 36 firms reporting results. Gains in Cement, BFSI, Technology, and Utilities sectors drove performance, while downgrades—though easing—continue to impact banking.

India’s corporate earnings for the June 2025 quarter (Q1 FY26) have reflected signs of normalisation across Nifty 50 companies, with 36 of the 50 constituents reporting results so far. These numbers paint a cautiously optimistic picture, supported by robust performances in the Cement, BFSI, Technology, and Utilities sectors.

Cement and BFSI Drive Performance

The overall earnings growth of 7.5% year-on-year was driven by five key sectors—cement, BFSI, oil & gas, utilities, and technology—accounting for 71% of the incremental YoY growth. Cement stood out with a staggering 47% growth in profits, attributed to strategic pricing actions and operating leverage gains.

HDFC Bank, ICICI Bank, and Bajaj Finance were among the leading contributors to Nifty’s earnings growth, alongside JSW Steel, L&T, M&M, and Reliance Industries.

Earnings Downgrades Ease But Are Far From Over

Despite better-than-expected results, earnings downgrades persisted, primarily in the banking sector, due to concerns over net interest margin (NIM) compression and asset quality pressures. Larger private banks saw earnings revisions downward, while non-banking financial companies showed stronger asset growth and profitability, albeit with cautious management outlooks.

The earnings downgrade ratio improved to 50%, a meaningful recovery from the 57% average across the past three quarters, indicating that corporate outlooks are beginning to stabilise.

EPS Estimates and Valuation Outlook

Nifty 50 EPS growth is now forecasted at approximately 10% for FY26, rebounding from the muted 1% growth in FY25. This acceleration is expected to be fuelled by a more favourable macro environment shaped by monetary and fiscal stimulus measures.

Despite this recovery, Nifty’s forward valuation remains slightly stretched. It currently trades at 22.1x FY26E earnings, compared to the long-period average (LPA) of 20.7x. Analysts have trimmed FY26 EPS estimates by 1.1% to ₹1,110 and FY27 estimates by 0.8% to ₹1,297, citing reductions in forecasts for Reliance Industries, HDFC Bank, Kotak Mahindra Bank, Power Grid Corporation, and Axis Bank.

Also Read: Stock Market Shock: What Caused the Unexpected Fall on March 10

Sectoral and Market Strategy

Large-cap stocks continue to dominate institutional portfolios, but improving earnings visibility has increased the allocation to mid-caps. The mid-cap weight has risen from 16% to 22%, reflecting growing confidence in their earnings resilience.

Analysts remain overweight on sectors such as BFSI, Consumer Discretionary, Industrials, Healthcare, and Telecom, while being underweight on Oil & Gas, Real Estate, Cement, and Metals.

IT Sector Poised for Tactical Recovery

The IT sector, represented by companies like Infosys and HCL Tech, has also attracted attention due to its relatively attractive valuation. Despite single-digit EPS growth projections, strong free cash flows, and low institutional ownership suggest a tactical bounce may be underway, mirroring the recent recovery in the FMCG space.

India’s Q1 FY26 earnings season reflects a transitioning phase for corporate India. While downgrades are still present—particularly in banking—there’s a visible improvement in underlying earnings trends, sector leadership, and market sentiment. The macroeconomic backdrop, supported by policy tailwinds, may offer the needed catalyst for broader earnings recovery in the quarters ahead.

READ MORE ON

Read the full article here: India Inc’s June Quarter Performance: A Closer Look at Q1 FY26 Earnings — For more updates, visit Wittiya – Top Business News, Stock Market Insights & Financial Updates (Wittiya).

India’s Supreme Court has recalled its earlier order directing the liquidation of Bhushan Steel and Power Ltd. The decision signals a fresh hearing on the resolution plan originally submitted by JSW Steel, following concerns over procedural and legal missteps during the insolvency process.

In a major reversal, the Supreme Court of India has recalled its earlier order dated May 2 that directed the liquidation of Bhushan Steel and Power Limited (BSPL). The apex court has now decided that the matter requires a fresh hearing due to serious procedural and legal discrepancies identified in its initial assessment of the insolvency resolution process.

Legal Oversight Prompted Reversal

A bench comprising Chief Justice B R Gavai and Justice Satish Chandra Sharma observed that the previous verdict did not accurately reflect established legal precedents under India’s Insolvency and Bankruptcy Code (IBC). The court pointed out that various arguments were either overlooked or inaccurately attributed, leading to concerns that key legal tenets were not adequately upheld.

Given the weight of procedural lapses and factual disputes, the court deemed it necessary to recall the judgment entirely and scheduled a fresh hearing for next Thursday.

Also Read: Supreme Court Opens BPSL Review—JSW’s Fate Hangs in the Balance

Criticism of the Resolution Process

Earlier, the court had cancelled the resolution plan submitted by JSW Steel, calling it unlawful and a breach of the IBC. Strong criticism was also directed at the role played by key stakeholders in the insolvency process — including the Resolution Professional (RP), the Committee of Creditors (CoC), and the National Company Law Tribunal (NCLT) — for facilitating what was described as a “flagrant violation” of insolvency norms.

By criticising the conduct of all involved, the court highlighted a larger issue: the inconsistent application of IBC procedures that risks undermining investor confidence and the broader restructuring framework in India.

Implications for Insolvency Law in India

This reversal is not merely procedural — it raises larger questions about how insolvency resolutions are handled in India, especially in cases involving large distressed assets. Market analysts note that frequent judicial interventions and inconsistent precedents can introduce uncertainty into the insolvency ecosystem, potentially discouraging investor participation in resolution processes.

Legal experts suggest that this development may trigger a closer review of how insolvency professionals and creditors’ committees adhere to regulatory frameworks, particularly in complex multi-stakeholder environments.

READ MORE ON

Read the full article here: Supreme Court Reopens Bhushan Steel Case: What It Means for IBC — For more updates, visit Wittiya – Top Business News, Stock Market Insights & Financial Updates (Wittiya).

India’s apex court has agreed to hear JSW Steel’s review petition in open court regarding its ₹19,350 crore acquisition of Bhushan Power and Steel Ltd (BPSL), offering the company a critical opportunity to safeguard its strategic investment and operational control. The decision also comes as a major relief to key lenders exposed to BPSL.

In a significant turn for Indian corporate law and the steel industry, the Supreme Court of India has agreed to hear the review petition filed by JSW Steel in open court. The petition challenges the May 2 judgment that annulled the company’s ₹19,350 crore acquisition of Bhushan Power and Steel Ltd (BPSL), ordering its liquidation.

This development is seen as a major relief for JSW Steel and for the country’s banking sector, especially for lenders like the State Bank of India (SBI) and Punjab National Bank (PNB), who had supported the review plea. Together, the banks are facing a combined exposure of nearly ₹34,000 crore, which could be severely impacted if the liquidation proceeds.

JSW Steel had acquired BPSL in March 2021 under the Insolvency and Bankruptcy Code (IBC) after it was listed among the Reserve Bank of India’s original 12 large defaulters in 2017. The company owed over ₹47,000 crore to lenders at the time. Since acquisition, BPSL has remained profitable, operationally viable, and an asset that has added significant value under JSW Steel’s management.

Also Read: JSW Steel Flags SEBI Filing for Q1—What Investors Must Know

The Supreme Court’s decision to shift the review into open court proceedings indicates the legal and financial complexities at stake. According to legal observers, this case could set a precedent on how strict adherence to IBC timelines is weighed against the commercial practicality of large-scale corporate resolutions.

The market responded positively. JSW Steel shares climbed nearly 2% intraday, hitting ₹1,052 on the BSE. Over longer durations, the stock has remained a strong performer—up 15% year-to-date, 65% in the last three years, and 385% over the last five years, delivering multibagger returns.

The earlier May verdict had called for the return of ₹19,350 crore to JSW Steel and found that the IBC’s mandated timelines were violated. The apex court’s interim order on May 26, which stayed the liquidation, now stands extended as the review proceeds.

Financial analysts suggest that a favorable verdict for JSW Steel could restore investor confidence in India’s resolution mechanisms and prevent long-term erosion of lender assets.

The next hearing date is yet to be announced, but all eyes will remain on this high-stakes battle that tests the resilience of India’s insolvency framework and investor trust in acquisition through legal resolution.

Read the full article here: Supreme Court Opens BPSL Review—JSW’s Fate Hangs in the Balance — For more updates, visit Wittiya – Top Business News, Stock Market Insights & Financial Updates (Wittiya).

India’s leading steel manufacturer, JSW Steel Limited, based in Maharashtra, has confirmed compliance with Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018, for the quarter ending June 30, 2025. This was certified by its registrar, KFin Technologies Limited.

JSW Steel Limited, one of India’s foremost steel manufacturers headquartered in Mumbai, has officially confirmed its compliance with Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018, for the quarter ending June 30, 2025.

In a letter submitted to both the National Stock Exchange of India (NSE) and BSE Limited, JSW Steel stated that its registrar and share transfer agent, KFin Technologies Limited, has issued a certification confirming the company’s adherence to the regulatory requirement.

The regulation mandates that within 15 days of receiving security certificates from the depository participants for dematerialisation, issuers must complete a series of actions. These include confirming or rejecting the dematerialisation request, ensuring the securities are listed on the stock exchanges, canceling the physical certificates, and registering the depository as the owner.

In the certificate issued on July 11, 2025, KFin Technologies confirmed that all procedural and regulatory steps were followed within the stipulated timeline, thereby reaffirming the integrity of JSW Steel’s securities management.

The correspondence, signed by Manoj Prasad Singh, who is currently serving as the interim Company Secretary of JSW Steel, was addressed to the listing departments of both exchanges under the respective codes—JSWSTEEL on NSE and 500228 on BSE.

KFin Technologies’ Senior Manager, Ramdas, assured that all statutory submissions have also been made to the depositories and exchanges as per the SEBI norms.

This routine yet essential confirmation reflects JSW Steel’s continued commitment to regulatory transparency and good governance in its financial and operational conduct.

Read the full article here: JSW Steel Flags SEBI Filing for Q1—What Investors Must Know — For more updates, visit Wittiya – Top Business News, Stock Market Insights & Financial Updates (Wittiya).