JSW Steel Limited — Others, 31-01-2025: News Verification

JSW Steel has clarified recent news claiming it provided Rs. 445 crore to surrender coal and iron ore mines. The company conducted a feasibility study that determined the Banai and Bhalumuda Coal Block was unviable, resulting in a Rs. 103 crore charge in the quarter ended December 31, 2024. Additionally, it surrendered the Jajang iron ore mining lease due to un-economic operations, recognizing a provision of Rs. 342 crore in the previous quarter. This information aligns with prior disclosures, implying that the recent share price changes are likely unrelated to the news report. Investors might view this development as a cautious yet strategic step to mitigate losses.