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JSW and JFE finalize steel joint venture in Odisha

after close1 source ↓written by the desknot a recommendation

finalized
30 Mar 2026
with an investment
4.5 million tons

JFE Steel Corporation and JSW Steel Limited have established JSW JFE Steel Limited, a 50:50 joint venture focused on an integrated steel plant in Odisha. This venture, finalized on 30 Mar 2026, aims for an annual crude steel capacity of 4.5 million tons with an investment of JPY 270 billion from JFE.

The facility will produce various flat and long steel products for the automotive and construction sectors, leveraging its strategic location near iron ore mines and robust infrastructure. This partnership is expected to enhance market positioning amid rising steel demand in India.

Not investment advice. For informational purposes only.

OI Charts is not a SEBI-registered investment adviser or research analyst. This bulletin was written by the OI Charts desk from the public sources listed here. It is commentary on market conditions, not a basis for any investment decision and not a recommendation to buy or sell any security. Prices as of 29 Apr 2026, 16:04 IST.

Sourcesnews.google.com

Read inENहिंతెमराதગુ

The market after the news

JSWSTEEL closed −1.2% on the day of the news, from ₹1,279.70 to ₹1,264.50; Nifty −0.7% over the same session; futures OI +0.1%.

Bulletin at 16:04 IST on 29 Apr 2026. Every change is measured from ₹1,279.70, the last close before it, on 29 Apr. Nifty 50 is measured over the same sessions.

  • JSWSTEEL close ₹
  • Nifty 50, rebased to the close before the news
  • close before the news
  • above it
  • below it
  • futures OI, lots
JSWSTEEL closes around the bulletin against the close before the news, with Nifty 50 rebased to it116912801391axis spans 19%before the news · 29 Apr1280Nifty 50JSWSTEELbulletinD0+1+3+523 Apr6 May15 MayFutures open interest, lotspeak 76,000Reference close ₹1,279.70. 16 sessions from 23 Apr to 15 May; the price axis spans 19 percent.
price axis fixed at 4 × the 14-session true range around the close before the news · values printed at each marked session
Closes after the news against the close before it, with Nifty 50 over the same span
SessionClose ₹Change %Nifty %
Before29 Apr₹1,279.70basebase
On the day30 Apr₹1,264.50▼ −1.2%▼ −0.7%−0.5 pp difference
+1 session4 May₹1,266.60▼ −1.0%▼ −0.2%−0.8 pp difference
+3 sessions6 May₹1,273.30▼ −0.5%▲ +0.6%−1.1 pp difference
+5 sessions8 May₹1,277.80▼ −0.1%0.0%−0.1 pp difference
Gap at the open, % · ₹
▼ −0.6%−7.17 on 30 Apr
Day's range, % · ₹
1.8%≈ 23 high to low
Volume on the day
0.59×the 20-session average
Futures OI on the day
▲ +0.1%+80 lots · short build-up · price −1.2%
Futures OI open, lots
73,00030 Apr · 26 May expiry
Futures premium, ₹
+5.80+0.5% to spot
Puts per call, by OI
0.88from 0.80 the session before
Max pain
1,260from 1,260 the session before

Source NSE UDiFF bhavcopy · JSWSTEEL on the desk →

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