Team News Riveting
Raipur, May 23
JSW Steel, a multinational conglomerate, on Sunday refuted the reports of its interest in bidding to buy Sanjeev Gupta’s Liberty Steel assets in UK.
“It is hereby clarified that such reports stating about the Company’s interest in bidding/buying Liberty Steel’s assets are not only speculative but also misleading and mischievous,” the company said in a stock exchange filing today.
Reports claimed that India’s leading steel maker led by Sajjan Jindal was considering to participate in the bid to buy Liberty Steel in Britain. “We have made and will continue to make disclosures in compliance under agreements with Sebi and stock exchanges,” the company said.
In a statement on Saturday, JSW Steel said its focus remained in India for now and it was not looking at acquiring any overseas assets.
JSW Steel last week reported highest ever profit after tax (PAT) and revenues in the March quarter, aided by strong domestic demand supplemented by exports and improved steel prices.
