'Misleading': JSW Steel Denies Reports On Liberty Steel Assets Buy
In a statement on Saturday, JSW Steel said its focus remained in India for now and it was not looking at acquiring any overseas assets
Topics
JSW steel | Steel tycoon Sanjeev Gupta | Sanjeev Gupta's Liberty House Group
BS Web Team |
JSW Steel on Sunday denied reports of its interest in bidding to buy Sanjeev Gupta's Liberty Steel assets in Britain and mills elsewhere.
"It is hereby clarified that such reports stating about the Company’s interest in bidding/buying Liberty Steel’s assets are not only speculative but also misleading and mischievous," the company said in a stock exchange filing.
News reports claimed that JSW Steel is considering a bid to buy Liberty Steel in Britain as would-be buyers circle Sanjeev Gupta's global commodities empire.
"We have made and will continue to make disclosures in compliance under agreements with Sebi and stock exchanges," JSW Steel said.
In a statement on Saturday, JSW Steel said its focus remained in India for now and it was not looking at acquiring any overseas assets.
JSW Steel last week reported highest ever profit after tax (PAT) and revenues in the March quarter, aided by strong domestic demand supplemented by exports and improved steel prices.
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
First Published: Sun, May 23 2021. 18:03 IST
JPMorgan Deploys AI Chatbot To Revolutionize Research And Productivity
JPMorgan has deployed an AI-based research analyst chatbot to enhance productivity among its workforce, with approximate... Read more
Private Equity And Banks: The Complex Web Of Leverage
Private equity has emerged as a significant force in the global financial landscape, driving substantial growth and inve... Read more
Financial Watchdog Highlights Unresolved Vulnerabilities In Shadow Banking Sector
The world’s leading financial stability watchdog has issued a warning about the unresolved vulnerabilities within the ... Read more
JPMorgan And Small Caps Lead Market Rally: A Sign Of Economic Optimism
In a week marked by strong financial performance, JPMorgan Chase & Co. reported a 25% rise in profits, and US small-... Read more
Big Banks Vs. Regional Banks: The Battle For Market Share
The financial industry is a competitive landscape where big banks and regional banks vie for market share. Each type of ... Read more
The Evolution Of Philanthropic Advisory Services In Private Banks
The landscape of philanthropic advisory services provided by private banks has undergone a significant transformation. T... Read more