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ispat industries latest news-JSW Steel buy’s Ispat Industries
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Online ispat-ispat industries news findings 2010, ispat industries latest news findings 2010 Online. India’s third largest steel producer JSW Steel said on Tuesday it plans to buy an 84-per cent stake in Ispat Industries for Rs 2,157 crore ($476 million) to expand capacity in the country. So it means JSW Steel buy’s 84-per cent stake in Ispat Industries. Based on the closing price of Ispat shares on Monday, JSW is buying the stock at a discount of 20 per cent. Shares of Ispat fell as much as 17 per cent after the news while shares in JSW Steel rose as much as 5 per cent. ispat industries latest news: Ispat is controlled by Pramod and Vinod Mittal, the brothers of the world’s fifth richest man, billionaire Lakshmi Mittal, who heads the world’s largest steelmaker Arcelor Mittal.