"India's JSW Steel Boss Says 'Nothing Concrete' With Canada's Teck" - Reuters News
Portfolio Pulse from Benzinga Newsdesk
JSW Steel Ltd's discussions with Canada's Teck Resources over buying a stake in its coking coal unit have yielded 'nothing concrete', according to JSW Steel Chief Executive Jayant Acharya. The process had slowed due to a diplomatic spat between India and Canada. Acharya stated that the company is exploring overseas coal assets in different countries, including Australia. The company reported a Q2 profit last week, helped by robust domestic demand and lower input costs.
October 23, 2023 | 3:46 pm
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JSW Steel's discussions with Teck Resources over buying a stake in its coking coal unit have yielded 'nothing concrete'. This could potentially impact Teck's stock price.
The news that JSW Steel's discussions with Teck Resources over buying a stake in its coking coal unit have yielded 'nothing concrete' could potentially impact Teck's stock price. Investors may have been anticipating a deal, which could have provided a boost to Teck's stock. The uncertainty surrounding the deal could lead to volatility in the stock price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80