JSW Steel ’s decision to enter a 50:50 joint venture with Japan’s JFE Steel Corporation to house the integrated steel business of its subsidiary Bhushan Power & Steel Ltd (BPSL) has triggered a wave of analyst reactions, ranging from highly optimistic to sharply cautious. The deal values the BPSL business at roughly ₹53,000 crore, with JFE investing ₹15,750 crore for its stake.

Motilal Oswal notes that JSW Steel’s restructuring and new joint venture will enable the company to unlock substantial value created through the turnaround of BPSL, while simultaneously lowering debt and supporting its long-term expansion plan toward 50 mtpa capacity. With JFE Steel already holding around 15 per cent in JSW Steel, the brokerage highlights that the restructuring will also lift promoter ownership

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