JSW Steel Hits Rs 1,238.70 High on JFE Steel JV

Shares of JSW Steel touched a day’s high of Rs 1,238.70 on 30 June, after JFE Steel completed a Rs 15,750 crore JV investment.

JFE Steel Corporation has now acquired a full 50% stake in JSW JFE Kalinga Steel Limited, after buying an additional 25% stake for Rs 7,875 crore. This was the second and final tranche of the deal, completed on 30 June.

The first tranche of this transaction had already gone through earlier this year, when JFE Steel picked up an initial 25% stake for the same amount of Rs 7,875 crore.

With both tranches now complete, the two companies jointly control JSW JFE Kalinga and its subsidiary, JSW JFE Steel Limited, as per the joint venture agreement they had signed back in December 2025.

On the business side, JSW Steel has also been delivering strong numbers lately.

The company’s March quarter revenue rose 14.2% year on year to Rs 51,180 crore, while EBITDA jumped 40.7% to Rs 8,634 crore, with margins improving to 16.9%.

The board has also recommended a final dividend of Rs 7.10 per share for FY26, with the record date set for 7 July.

As of close on 30 June, shares of the Mumbai based steel major settled at Rs 1,226.40 on the NSE, down 0.49% for the day despite the positive JV update.

The stock remains within its 52 week range of Rs 1,008 to Rs 1,328, and has gained over 20% in the past year.

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