The company received a notice of Rs 1,473 crore from the state government, a major impact on the stock is possible on Monday:

News Topical, Digital Desk : Sajjan Jindal-led JSW Steel Ltd said it has been issued a demand notice of Rs 1,472.69 crore by the Odisha government. This notice is related to Jajang Iron Ore Block in Keonjhar district.

Mining work was stopped in December 2024
JSW Steel had already disclosed on August 3, 2024 that it had surrendered the Jajang iron ore block due to uneconomic operations. As per the final mine closure plan approved by the Indian Bureau of Mines, mining work in this block was stopped in December 2024.

Due legal process followed: JSW Steel The company said that it believes that due legal process has been followed and it will take appropriate legal measures against the demand notice in consultation with its legal advisors.

First quarter results show that in the first quarter, the net profit of DEW Steel increased from Rs 845 crore to Rs 2,184 crore as compared to the same quarter last year. A decline of 3.3 per cent or more than Rs 1,400 crore in the total expenses of the company as compared to last year has helped in increasing the profit. Revenue for the first quarter remained stable, showing a marginal increase of 0.5 percent to Rs 43,147 crore.

JSW Steel Share Price Its effect can be seen on JSW Steel Stock Price on Monday. On Friday, JSW Steel share price closed at Rs 1,054.40 with a decline of 1.62 percent, it fell by 1.04 percent in the last 5 days and increased by 1.99 percent in 1 month. The stock has increased by 9.06 percent in 6 months and 12.05 percent in 1 year.