JSW Steel shares rose as much as 2.5 percent to an intraday high of Rs 1,247.20 per share on the NSE on Monday after the Orissa High Court quashed a demand order of Rs 696 crore and set aside another order of Rs 1,473 against the company.
However, the shares pared some gains due to profit booking at higher levels and were trading at Rs 1,230, up 1.13 per cent.
The court delivered the judgments on Friday in response to separate petitions filed by the company challenging demands raised by the office of the Joint Director of Mines, Joda, Odisha.
In September 2021, JSW Steel received an order from the mining authority in Joda relating to the assessment of a shortfall in minerals dispatched from the company's Jajang iron ore block during the period from June 27, 2020, to June 26, 2021.