JSW Steel seeks solace in technology

JSW Steel has set up JSoft Solutions, a Bangalore-based IT company, that is likely to be spun off as an independent vertical.

Meanwhile, JSW Steel is reportedly planning to raise around Rs 3400 crore in the international markets. The fund raising is expected to be done over the next six to 12 months. The funds are aimed at helping the company’s Rs 17000-crore expansion plans.

The current price of Rs 646 discounts its Q1 June 2007 annualised EPS of Rs 112.6 (based on consolidated results) by a PE multiple of 5.73.