JSW Steel shares sink 6.5% after Supreme Court nullifies Bhushan Power acquisition

JSW Steel's shares plummeted after the Supreme Court deemed its Rs 19,700 crore acquisition of Bhushan Power & Steel illegal, ordering liquidation. The court cited violations of the Insolvency and Bankruptcy Code and raised concerns about the resolution plan's implementation. This decision impacts a significant portion of JSW's EBITDA and steel-making capacity, prompting the company to consider a review petition.