'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's Berlin Moment: Chase Takes On Europe
There is something quietly symbolic about JPMorgan Chase choosing Berlin as its gateway into continental Europe. In a fo... Read more
What Strategy's Bitcoin Sale Really Tells Us
There is a moment in every bull run when the narrative starts to fray. Not with a crash, not with a scandal, but with so... Read more
Coutts Sets Scope On New Continent
Coutts steps into private marketsCoutts, the private bank best known for serving Britain’s wealthiest families and the... Read more
From Cypherpunk To Citadel
How Crypto Moved from the Wild West to the Mainstream Financial SystemA long-form analysis of Bitcoin's journey from fri... Read more
ACB Securities: Building Scale, Trust & Innovation
ACB Securities: Building Scale, Trust and Innovation in Vietnam’s Capital MarketsACB Securities (ACBS) is emerging as ... Read more
War Risk Returns To Markets As VIX Surges
For most of the past year, global markets behaved as though geopolitical risk had largely disappeared. Inflation was eas... Read more