GQG Partners, SBI Mutual Fund buy JSW Steel shares in block deal
Sarthak Kumar
JSW Steel witnessed a major block deal on Monday, with global investment firm GQG Partners and SBI Mutual Fund picking up shares worth over ₹3,000 crore in the company.
According to block deal data, GQG Partners purchased 1.5 crore shares, representing a 0.61% stake in JSW Steel, for ₹1,890 crore. SBI Mutual Fund also bought 1 crore shares, equivalent to a 0.41% stake, for ₹1,260 crore.
The shares were transacted at an average price of ₹1,260 per share.
On the selling side, promoter entity JSW Energy offloaded 2.5 crore shares, representing a 1.02% stake in JSW Steel, through the bulk transaction. The total deal value stood at around ₹3,150 crore.
Despite the promoter stake sale, JSW Steel shares ended higher on Monday. The stock closed at ₹1,292.80 on the NSE, up 1.09%, after touching an intraday high of ₹1,302 during the session. The stock remains close to its 52-week high of ₹1,314.
The transaction comes amid continued investor interest in large-cap metal stocks and follows strong institutional participation in recent secondary market deals.
JSW Steel is among India’s leading integrated steel manufacturers with a diversified product portfolio and significant domestic and international operations. The company remains closely tracked by institutional investors due to its scale, expansion plans and exposure to infrastructure and manufacturing demand.
Disclaimer: This article is for informational purposes only and should not be construed as investment advice.