Tata Steel upgraded to Buy; Anand Rathi sees 24% upside Tata Steel jumps 3.13%, hits fresh intraday high JFE buys 25% in Kalinga Steel for ₹7,875 crore Europe steel market struggles for direction
JFE Steel has invested ₹7,875 crore to acquire a 25% stake in JSW Kalinga Steel, marking the first phase of a broader joint venture arrangement with JSW Steel. A second tranche of the same size is planned, which would take JFE’s holding to 50% and deepen joint control over Kalinga Steel and its wholly owned subsidiary, JSW Sambalpur Steel. The development comes alongside JSW Steel’s transfer of the Bhushan Power and Steel business to JSW Sambalpur Steel as part of the group’s restructuring under the joint venture framework. The transaction is expected to improve asset integration, streamline operations, and support long-term expansion and technical collaboration between the two steelmakers. For the steel sector, the deal highlights rising strategic interest in large-scale capacity building and stronger international partnerships in India’s steel industry.
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