Jindal Steel & Power

JSPL's export sales contributed 39 per cent of total standalone sales in July 2020.

June sees improvement in sales, utilisation up to 80 per cent

The divestment is in line with JSPL's vision and commitment to continuously bring down its debt and deleverage its balance sheet, the company said in a release

Sponge iron plants could shift to new technology on availability of coal

Though the exact figure for semi-finished exports to China is not known, steel producers say a bulk would have gone to China.

The company recorded the highest ever standalone steel sales of 640,000 tonnes in May 2020, up 28% year-on-year (YoY), with the revival of domestic demand.

The IMF has predicted the epidemic would shave 0.1 percentage points off global growth

JSPL's Raigarh and Angul operations contributed 817,344 and 792,822 metric tonnes to the production in October-December period

India's iron ore imports tumbled 90 per cent year-on-year during April-October, after a sharp escalation of 172 per cent in the comparable period last year, said CARE Ratings in its report

In the past three months, JSPL has rallied 79%, as compared to a 9% rise in the S&P BSE Sensex.

The stock is trading at its highest level since June 14, 2019

The company has emerged as the highest bidder for Gare IV/1 coal Block (rated capacity 6MTPA) in the recently held coal block auctions at a closing bid of Rs 230/t.

Essar Shipping-owned vessel carries 105,000 tonnes of limestone for JSPL; Gopalpur is undertaking an expansion plan entailing dredging of the channel to enable it to receive large ships

Jindal Steel & Power (JSPL) on Sunday said it has set a target of reducing its net debt by more than Rs 10,000 crore to below Rs 30,000 crore in the next two years. "JSPL has set target to reduce its net debt by more than Rs 10,000 crore to below Rs 30,000 crore and take EBITDA (earnings before interest, tax, depreciation and amortization) to more than Rs 12,000 crore on a consolidated yearly basis over the next two years," a company statement said. JSPl chairman Naveen Jindal disclosed his plans at the company's 40th AGM in Hisar on September 27, 2019. Jindal said, though there is slowdown, the company is comfortably placed in the market with value added and niche products. The company would be more aggressive in marketing its products and would continue to look to divest the non-core assets, to reduce debt to the target level, he added. "The company has successfully reduced its net debt by more than Rs 4,000 crore in the last fiscal and will continue to work towards doubling the

Valuation attractive; expansion to help firm withstand challenges

Analysts say investors have turned wary of firms with high promoter pledging, given rising corporate debt

In the past three months, the stock has underperformed the market by falling 44 per cent, as compared to a 3 per cent decline in the S&P BSE Sensex.

The company said all speculations/rumours with respect to payment default are "baseless and false in nature"

Steel long products are used in infrastructure and construction segment, an area where the government is laying immense thrust to up investments

The company has reported a consolidated quarterly profit after 14 loss-making quarters, it said in a statement