New Delhi, July 30 -- JSW Steel share price rose nearly 2% on Wednesday after the Supreme Court agreed to hear the company's review petition in the Bhushan Power and Steel Ltd (BPSL) case. JSW Steel shares gained as much as 1.6% to Rs.1,052.00 apiece on the BSE.

The Supreme Court, in a closed-chamber review hearing held on Tuesday, allowed JSW Steel's review petition against its May 2 verdict - which had annulled the company's Rs.19,350 crore acquisition of BPSL and directed the liquidation of the company - to be heard in open court.

The development provides a crucial legal opportunity for JSW Steel to retain control of BPSL, which it acquired in March 2021 through the corporate insolvency resolution process.

The court's decision also ...