India's JSW Steel gains, key shareholders raise stakes

Jan 07 2014, 16:40 IST
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Shares in India's JSW Steel Ltd gain 1 percent (Reuters) Shares in India's JSW Steel Ltd gain 1 percent (Reuters)
SummaryThe stake purchases are seen as signalling promoter confidence in the company and its valuations

* Shares in India's JSW Steel Ltd gain 1 percent, adding to a surge of 4 percent on Monday after key shareholders raised their stakes in the company, dealers say.

* The company on Monday informed the exchanges that promoter group companies JSW Investments Pvt Ltd and JSW Centre raised their stakes in JSW Steel to 5.03 percent from 4.92 percent and to 5.12 percent from 5.03 percent respectively last week.

* The stake purchases are seen as signalling promoter confidence in the company and its valuations, dealers say.

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