Speaking on JSW Steel’s share price outlook, Vaishali Parekh, Vice President – Technical Research at Prabhudas Lilladher said, JSW Steel share price has witnessed a steep slide and consolidated near the significant 200DMA zone of u20b9666 levels overall indicated an ascending channel pattern on the daily chart and recently has indicated a pullback with improvement in the bias. The RSI is well placed and has indicated a trend reversal from the oversold zone to signal a buy and has much upside potential from here on. We recommend a buy in this stock for an upside target of 755 keeping a support level of u20b9650.
JSW Steel was recently in news for getting approval from the National Company Law Tribunal (NCLT) for the scheme of amalgamation of Asian Colour Coated Ispat Limited and Hasaud Steel Limited.
Source: Mint
JSW Steel Ltd informed Indian bourses about the NCLT order citing, This is with reference to our letter dated January 24, 2023, informing that the Honu2019ble National Company Law Tribunal (u2018NCLTu2019), Mumbai Bench has passed an order sanctioning the Scheme of Amalgamation of Asian Colour Coated Ispat Limited (u2018ACCILu2019 or u2018the Transferor Company 1u2019) and Hasaud Steel Limited (u2018HSLu2019 or u2018the Transferor Company 2u2019) with JSW Steel Coated Products Limited (wholly owned subsidiary of JSW Steel Limited) (u2018JSCPLu2019 or u2018the Transferee Companyu2019) and their respective Shareholders (u2018Schemeu2019 or u2018the Schemeu2019 or u2018this Schemeu2019), on January 05, 2023, with u2018Appointed Dateu2019 of April 01, 2022. The order sanctioning the Scheme was uploaded on the website of Honu2019ble NCLT on January 23, 2023.
Source: Stock Investing
JSW Steel went on to add, We now hereby inform you that the Certified copy of the Orders of the NCLT Mumbai, have been received and filed by ACCIL, HSL & JSCPL with the Registrar of Companies on 22nd February 2023 & 24th February 2023 respectively, and that the Scheme has become effective on the said date of 24th February 2023, with u2018Appointed Dateu2019 of April 01, 2022.
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