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The scrip of JSW Energy and JSW Steel moved up 6.4 per cent and 2.9 per cent on the back of news that the group plans to redeem Foreign Currency Convertible Bonds (FCCBs).
Markets were abuzz that the group would be redeeming FCCBs worth Rs 2170 crore on Thursday. The scrip was flat through the day but saw a sudden spike towards the end of the day’s trading session. JSW Energy ended at Rs 51.20 a share, while that of JSW Steel closed at Rs 667.45 a piece.
The FCCBs worth Rs 2,170 crore are held by JSW Steel, said reports.
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