{"id":345821,"date":"2020-04-07T12:04:03","date_gmt":"2020-04-07T06:34:03","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=345821"},"modified":"2020-04-07T12:41:55","modified_gmt":"2020-04-07T07:11:55","slug":"jspl-promoters-to-repay-rs350-cr-loans-for-release-of-10-cr-shares-stock-up-15","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/jspl-promoters-to-repay-rs350-cr-loans-for-release-of-10-cr-shares-stock-up-15\/","title":{"rendered":"JSPL promoters to repay Rs350 cr loans for release of 10 cr shares, stock up 15%"},"content":{"rendered":"<p>NEW DELHI: Promoters of Jindal Steeel &amp; Power Ltd (JSPL) are repaying \u20b9350 crore of loans to ensure release of 10 crore shares of the company from the likes of L&amp;T Financial Services and Franklin Templeton Investments, a source told Mint. Most of the loans are from non-banking finance companies. 10 crore shares amount to almost 10% of the company\u2019s equity of 1.02 billion shares.<\/p>\n<p>JSPL share is currently trading at Rs72.65 on the BSE, up 15% from Friday\u2019s close. The promoter group, led by Naveen Jindal, holds 60.4% stake in the steel and power company.<\/p>\n<p>The JSPL stock has shaved off 65% from its 52-week high of Rs202.40 even as the broader benchmark index, the BSE Sensex, has lost 40% from its own peak. Concerns over high proportion of pledged shares by the promoters and fear of recession have weighed on the stock.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>NEW DELHI: Promoters of Jindal Steeel &amp; Power Ltd (JSPL) are repaying \u20b9350 crore of loans to ensure release of 10 crore shares of the company from the likes of L&amp;T Financial Services and Franklin Templeton Investments, a source told Mint. Most of the loans are from non-banking finance companies. 10 crore shares amount to almost 10% of the company\u2019s equity of 1.02 billion shares. JSPL share is currently trading at Rs72.65 on the BSE, up 15% from Friday\u2019s close. The promoter group, led by Naveen Jindal, holds 60.4% stake in the steel and power company. The JSPL stock has [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[139,130,237],"tags":[],"class_list":["post-345821","post","type-post","status-publish","format-standard","hentry","category-live-mint","category-newspapers","category-power-live-mint"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/345821","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=345821"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/345821\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=345821"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=345821"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=345821"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}