Shares of JSW Steel Ltd fell nearly 1% after touching a day’s high of Rs 1,194.90 on 12th November, following reports that the company is planning to sell up to half of its stake in Bhushan Power & Steel Ltd (BPSL).

Sources said Japan’s JFE Steel is the leading contender to acquire up to a 50% stake in JSW Steel’s Bhushan Power. JSW Steel is reportedly exploring strategic partnerships for BPSL. They have plans to bring in either a financial or strategic investor.

The company said it continues to evaluate opportunities in India and abroad. These include collaborations aimed at enhancing scale, efficiency, and global competitiveness. However, it declined to comment on market speculation.

Background on Bhushan Power & Steel:

• JSW Steel acquired BPSL under the Insolvency and Bankruptcy Code (IBC) in 2019.

• BPSL has an integrated steel-making capacity of about 4.5 million tonnes per annum (MTPA).

• In May 2025, the Supreme Court ordered BPSL’s liquidation.

• However, in September 2025, the Court reversed its earlier order. It reinstated JSW Steel’s ownership and allowed the group to continue its revival plans for BPSL.

At 12:24 PM, shares of JSW Steel were trading 0.68% lower at Rs 1,183.40 on NSE.

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