JSW Steel Limited sold a 50% stake in Bhushan Power & Steel Ltd to Japan's JFE Steel for $1.75 billion, with Nomura acting as financial advisor on the buyside, according to Nomura's India investment banking head Amit Thawani.

JSW Steel said it plans to gradually eliminate iron ore imports as domestic supply improves, with executive vice president Puneet Jagatramka citing India's large deposits. The company currently meets about two-fifths of its iron ore needs from captive mines and sources the rest from the market, mainly from NMDC Ltd, and accounted for nearly 80% of India's 12.2 million tonnes of imports in 2025. JSW Steel plans to bid in upcoming mine auctions and develop about 40 million tonnes of pipeline capacity, with 30 million tonnes expected within a year and 10 million tonnes within two years, to support expansion from about 35 million tonnes of steel capacity to 55 million tonnes by 2030 and 79 million tonnes by 2032, targeting 50% captive sourcing.

Capitalmind Flexi Cap Fund made a complete exit from JSW Steel Limited in July as part of its 11-stock sell-off.