Morgan Stanley Sells 5.24% Stake In JSW Ispat Special Products

Morgan Stanley India Company Private Limited on Monday sold 5.24 per cent stake in Ispat Special Products, the company announced through an exchange filing. The company sold 2,46,06,761 shares, reducing its stake in the company.

Prior to the sale of shares Morgan Stanley owned 6.58 per cent stake comprising 3,09,11,763 shares of the company. However, post the sell off the company now owns 63,05,002 shares representing 1.34 per cent stake in the company.

JSW Ispat Production in Q1

JSW Ispat production volume in the first quarter of FY24 stood at 1.84 lakh tonnes with a growth of 74% Year-on-Year (YoY) and 1% Quarter-on-Quarter (QoQ). The production volume of crude steel production Q1 FY23 and Q4 Fy23 was 1.06 lakh tonnes and 1.83 tonnes respectively.

JSW Ispat Special Products shares

The JSW Ispat Special Products shares were at 38.97 and were suspended due to procedural reasons on Wednesday evening.