JSW Steel Shares Rise After Supreme Court Halts BPSL Liquidation

Shares of JSW Steel experienced a boost on Monday following a Supreme Court ruling that called for a status quo on the liquidation proceedings of Bhushan Steel and Power Ltd (BPSL) at the National Company Law Tribunal.

With the stock rising by 2.31% to close at Rs 1,031.75 apiece on the BSE and climbing 2.13% to Rs 1,030 on the NSE, the market responded positively to the court's decision.

A bench led by Justices B V Nagarathna and Satish Chandra Sharma emphasized that the liquidation could disturb a forthcoming review petition by JSW Steel, prompting the company to appeal in order to safeguard its interests, as well as those of its lenders and employees, against the adverse implications of liquidation.

(With inputs from agencies.)