India’s Supreme Court has stopped the liquidation process of Bhushan Power and Steel Ltd (BPSL).
This comes after JSW Steel said it would file a review petition. The petition challenges the court’s earlier decision.
Earlier this month, the court had cancelled JSW’s $2.3 billion takeover deal and ordered BPSL to be liquidated.
JSW Steel Stock Rises After the Ruling
After the court ruling, JSW Steel shares jumped 1.7%. The stock touched its highest point of the session.
Investors welcomed the news. Many believe the acquisition deal could still be revived if the court accepts the review.
Context: India Steel 2025 Conference
This update comes during the India Steel 2025 Conference in Mumbai. The event gathered top companies from the steel sector.
A REUTERS photo shows a man passing by the JSW Steel stall at the conference, held on April 25, 2025.
What Happens Next?
Now, the focus shifts to JSW Steel’s review petition. If accepted, the acquisition deal may move forward again.
The deal was expected to boost JSW Steel’s market share and help resolve bad loans in the banking sector.
