JSW Steel Slips After Rs 3,150 Cr Block Deal by JSW Energy

Shares of JSW Steel Limited fell on Monday, 18 May, after JSW Group company JSW Energy offloaded a chunk of its holding through a block deal, triggering selling pressure early in the session.

The stock touched a day low of Rs 1,265.20 on the NSE, as the block deal weighed on sentiment through the morning.

In an exchange filing, JSW Energy disclosed it had sold 2.5 crore shares of JSW Steel, equal to 1% of the steelmaker’s total equity. 

The shares changed hands at an average price of Rs 1,260 each, roughly a 1.5% discount to Friday’s closing price of Rs 1,278.80, taking the total deal value to Rs 3,150 crore.

JSW Energy said the sell-down would free up capital for its own growth plans and improve its Return on Capital Employed. 

The filing described it as part of ‘disciplined capital allocation’ for shareholders. As per the filing, JSW Energy holds over 4.5 crore shares of JSW Steel after the transaction.

The deal comes days after JSW Steel reported its March quarter numbers. Revenue from operations climbed 14% year-on-year to Rs 51,180 crore. 

Net profit came in at Rs 19,243 crore for Q4 FY26, boosted by a one-time gain of Rs 17,888 crore from the slump sale of Bhushan Power and Steel’s steel business to a joint venture. 

The underlying profit stood at Rs 1,355 crore. Sales volumes rose 6% during the quarter, with exports up 36% year-on-year.

At 10:22 am, shares of the Mumbai-based steelmaker were trading at Rs 1,270.30 on the NSE, down 0.66% from Friday’s close. Over the past year, the stock has gained around 24%.

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