JSW Steel Joins the National Stock Exchange’s Benchmark Index NIFTY50
As soon as the Index Maintenance Sub-Committee (IMSC) announced the inclusion of JSW Steel in NIFTY50 at the end of August 2018, shares of the company surged by 8%. The stocks hit a 52-week high in early trade, despite the fact that the inclusion would only come into effect on the 28th of September, 2018. To further add to the celebration, the organisation’s steel stock has risen by 10.46% in the last few days and has the potential to hold the throne in the coming months too.
- JSW Steel replaces Lupin, a domestic transnational pharmaceutical company, in NIFTY50.
- JSW Steel stock has gone up by 51.77% during the last one year and 39% since the beginning of this year.
- JSW Steel stock rose nearly 3.50% to hit a fresh high of 378.70 on BSE.
- Shareholder returns of JSW Steel have been highest among their domestic and global competitors in 2018.
The Rise of the Steel
National Stock Exchange’s benchmark index NIFTY50 is all set to welcome JSW Steel to the elite club of companies that have a market capitalisation of Rs. 1 trillion.
After surpassing eight really successful and influential companies in India, JSW Steel now proudly stands at number 33 in the overall market-cap ranking.
JSW as a company is very focused on their operations. It is one the few companies that utilises its capacity to the maximum. We have spread our products globally as well as in India. We have given a lot of consideration on the niche market where we can have more and more value additions, which can prove to be fruitful for the company and the country as well.