Jindal Steel & Power Ltd News

Steel shares trade firm; Jindal Steel, Tata Steel, SAIL rally up to 5%

At 10:59 AM, the BSE Metal index, the top gainer among sectoral indices, was up 1 per cent, as compared to the 0.09 per cent rise in the BSE Sensex

Here's why Nifty Metal index rose over 1% on November 26; details inside

At 11:52 AM, 12 of the 15 stocks in the Nifty Metal Index were trading in the green, while three remained in the red

Jindal Steel and Power Q2 results: Net profit falls 38% to Rs 860 crore

Jindal Steel and Power Ltd (JSPL) on Wednesday reported 38 per cent fall in consolidated net profit at Rs 860 crore for September quarter, on account of lower revenue. It had posted a net profit of Rs 1,390 crore for the period ended September 2023, the company said in a statement. Gross income fell to Rs 13,025 crore from Rs 14,128 crore in the July-September period of 2023-24. During the second quarter, the company's steel production increased to 1.97 million tonne (MT) from 1.90 MT in the same period a year ago. Sales were at 1.85 MT as against 2.01 MT. The company said its net debt stood at Rs 12,464 crore as on September 30. The total capex for the quarter was Rs 2,642 crore, largely driven by the expansion projects at Angul. As per an exchange filing, Wollongong Resources Pty Ltd Australia, a step-down subsidiary of the company, recorded net loss after tax at Rs 35.74 crore for the quarter. "As on September 30, 2024 the accumulated losses and negative net worth of Jindal St

Jindal Group in talks to acquire Czech-based Vitkovice Steel for Rs 1k cr

To strengthen its global presence, homegrown Jindal Group is talks with Vitkovice Steel to acquire 100 per cent stake in the Czech-based company. The group is expected to complete the acquisition by the end of this fiscal year through its arm Jindal Steel International, sources said. It will be Jindal Group's first acquisition in Europe. The Naveen Jindal-owned business house already has significant presence in geographies like Australia, Mozambiquie and Oman in sectors such as steel, power and mining. "The management of the two sides are in active talks for the deal. As part of the deal, Jindal Group will acquire 100 per cent stake in Vitkovice Steel. This will be Jindal Group's first acquisition in Europe," industry sources said. As per sources, the deal size could be of about 150 million euros (around Rs 1,000 crore), they said. The acquisition of Vitkovice Steel will help the Jindal Group to make a foothold in the European market, which is putting checks in the form of CBAM .

Jindal Stainless Q2 results: Net profit down 21% at Rs 611.31 crore

The share of exports was 10 per cent of total sales in Q2 FY25 compared to 13 per cent in Q2 FY24. Overall, exports in H1 FY24 had stood at 15 per cent

Metal index corrects for 4th day in a row; NMDC, Tata Steel slips up to 8%

The Nifty Metal index, the top loser among sectoral indices, was down 2 per cent, as compared to the 0.35 per cent rise in the Nifty 50, at 9:53 AM.

Jindal India plans to invest Rs 1,500 crore to expand production capacity

Jindal India, a downstream steel player, on Thursday announced its plans to invest Rs 1,500 crore to increase its annual production capacity to 1.6 million tonne. The expansion focuses on the production of coated flat products, pipes, and crash barriers, the company said in a statement. "Jindal India announces a capex spend of over Rs 1,500 crore to effect a strategic capacity expansion of 0.6 Million MT, a 60 per cent increase from its current capacity of 1 million metric tonne per annum," it said. The expansion is expected to be completed by the financial year 2025-26, while the production is slated to be started within the ongoing fiscal, it said. The increased focus on rapidly augmenting the nation's highway network with critical safety components such as crash barriers is a key area where Jindal India has been adding value, a company spokesperson said. Part of B C Jindal Group, Jindal India Limited is into manufacturing of colour-coated and galvanized steel sheets and coils,

JSPL, JRPL sign pact to invest in green hydrogen production in Odisha

The steel producer said on Monday that this represents the largest investment in green hydrogen by any Indian steelmaker

Jindal Steel Q1 results: PAT falls 21% to Rs 1,338 cr on weak steel demand

In April-June, general elections, which lasted for nearly half quarter, led to muted steel demand, analysts said, which was compounded by higher costs of rebar, a key raw material for steelmakers

F&O Insights: Grasim among 12 stocks with over 20% OI change in last 4 days

In the derivatives segment, stocks such as India Cement, GMR Infra, Chambal Fertilizers seem to have witnessed long unwinding in recent trading sessions owing to the sharp rally in share prices.