Due to constant governmental pressure, JSW Steel, a part of $4 billion O.P. Jindal Group, has declared a price reduction of Rs 4,000 per tonne on price list for hot rolled, cold rolled and galvanised products.

The company said that the recent price reduction will be applicable for steel consumption and sales in Indian markets except for term contracts and material consumed for further value added exports.

Sajjan Jindal, VC & MD of JSW Steel stated, “Keeping the overall national economic interest in mind and as a measure of support to the Government we have decided to reduce the prices, in spite of severe cost increase on import raw materials for us.”

With these measures, JSW Steel is sure that the common man as well as the final user will get a major relief from inflationary forces.  

The shares of the company, on Thursday (8 May) gained Rs 6.6, or 0.75%, to settle at Rs 884.25 on the Bombay Stock Exchange (BSE). The total volume of shares traded was 433,033 at the BSE.