JSW Steel Surges as Odisha High Court Delivers Mining Relief

JSW Steel shares climbed as much as 2.5% to an intraday high of ₹1,247.20 on the NSE on Monday, emerging as the top gainer in the Nifty 50. The rally followed the Orissa High Court’s decision to quash a ₹696.32 crore demand and set aside a separate ₹1,472.69 crore notice related to alleged shortfalls in mineral dispatches from the company’s Jajang iron ore block in Odisha. The court delivered the judgments on October 16 in response to two petitions filed by JSW Steel challenging orders from the mining authorities in Joda. The ₹696 crore demand, issued in September 2021, covered the first year of the Mine Development and Production Agreement (June 2020–June 2021). The High Court disposed of the matter in line with its earlier April 2026 ruling, effectively nullifying the demand letter and a subsequent corrigendum.