JSW Steel is looking strong, and it will surely reach above Rs 1096 in today’s session.

Hitendra Vasudeoo of stockmechanics.com has recommended investors to buy JSW Steel above Rs 1050 with a stop loss at Rs 1030.

JSW Steel has announced that pursuant to the order made by the high court of judicature at Bombay, separate meeting of the equity shareholders and preference shareholders of the company will be convened on Dec. 28, 2007 for the purpose of considering and if though fit, approving with or without modifications, the arrangement embodied in the scheme of amalgamation of Southern Iron & Steel Company with the company.

The company also informed that, an extra ordinary general meeting (EGM) of the equity shareholders of the company will be convened on Dec. 28, 2007, or soon after the court convened meeting of the equity shareholders, whichever is later.

The company is a fully-integrated steel plant having units across Karnataka and Maharashtra producing materials from pellets to color-coated steel.