JSW Steel announced on Tuesday that the company’s board of directors will meet on Friday, May 27, 2022 to consider raising long-term funds, including but not limited to placement in qualified institutions.
Fundraising is subject to regulatory/statutory approvals, where applicable. On the same day, the board will also consider the company’s audited financial results for the quarter and year ended March 31, 2022 and the recommendation to pay a dividend on the company’s stock.
JSW Steel, the flagship business of the diversified JSW Group, is India’s first integrated steel company with a steel production capacity of 28 MTPA in India and the United States, including jointly controlled capacities and a new capacity that will be commissioned at Dolvi this year.
The steelmaker’s consolidated net profit jumped 69.20% to Rs 4,516 crore on a jump of 74.16% in total operating revenue to Rs 38,071 crore in Q3 FY22 from Q3 FY21.
Shares of JSW Steel were trading down 1.45% at Rs 539.65 on BSE.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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