Australia's BlueScope hits 2-week high on Tata JV stake sale

BLUESCOPE STEEL

13/11/2025 04:56

** BlueScope Steel BSL.AX gains as much as 3.3% to A$23.070, highest since October 29

** Steelmaker enters binding agreement for sale of 50% stake in Tata BlueScope Steel JV to partner Tata Steel TISC.NS

** TISC rises 1.7% to 181.94 rupees

** Jefferies says sale implies significant premium to book value, with estimated net profit after tax on sale being A$70 mln ($45.5 mln)

** Sees room for capital returns, tipping A$50 mln–A$60 mln buybacks in H2 FY26 and A$200 mln annually thereafter

** YTD, BSL gains ~21%; TISC rises ~32%

($1 = A$1.5389)

 (Reporting by Kumar Tanishk in Bengaluru)

 ((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk http://www.x.com/thatstanishk;))