JSW Steel Limited has informed regarding Disclosure of material issue- Hon'ble Supreme Court Rejects JSW Steel's Bhushan Power and Steel Resolution Plan

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Price reactionminutes from the announcement price · days from the prior close

-5.4%Reaction day

₹1025.09

prior close

₹967.60

announcement price

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Nifty 100market · index membership as recorded later (tracked since Jun 2026)+0.0%-5.4% vs market

Iron & Steel peers, median of 9sector+0.2%-5.6% vs sector

On the reaction day the stock moved 5.4 pts less than Nifty 100 and 5.6 pts less than its Iron & Steel peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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Reaction day

-5.4+0.0-5.4+0.2-5.6

Next day

-6.8+0.7-7.5+1.0-7.9

-6.1-0.0-6.0-2.4-3.7

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+3.2+4.9-1.7+15.2-12.0

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AI summary

The Hon'ble Supreme Court of India pronounced a judgment on May 2, 2025 rejecting the Resolution Plan submitted by JSW Steel for Bhushan Power and Steel. This plan had previously been approved by the NCLAT. JSW Steel has not yet received the formal copy of the order and is waiting to understand the detailed grounds for rejection. The company will review the order with its legal advisors before deciding on its next course of action. JSW Steel has committed to keeping the stock exchanges updated on further developments.

Likely market impact

This is a negative development for JSW Steel shareholders. The rejection of the Bhushan Power and Steel resolution plan creates significant uncertainty around the acquisition, which was a key strategic asset. The stock may see short-term pressure as investors digest the implications, though the final impact depends on the detailed order and any further legal recourse the company pursues.