Jindal Group

Jindal Saw to acquire 31.2% stake in ReNew Green Energy for undisclosed sum

Jindal Saw on Tuesday said it has inked a pact to acquire 31.20 per cent equity in ReNew Green Energy. However, the company did not divulge the financial details of this equity acquisition. In a filing, Jindal Saw said, "It has entered into a share purchase agreement with ReNew Green Energy Solutions Private Limited (RGES) to acquire shareholding up to 31.20 per cent equity share capital in ReNew Green MHH One Private Limited (RGMHH), which resulted RGMHH as an associate of the company". The acquisition is with an objective to procure electricity at a concessional rate, the company said. Jindal Saw further said it aims to complete the acquisition by May 31, 2025, or any other date as may be mutually decided between the parties. It is a manufacturer and supplier of steel pipe products, fittings and accessories with manufacturing facilities in India, the US, Europe and the UAE.

Naveen Jindal group to invest Rs 2,160 crore to scale up cement production

Company will set up grinding unit in Odisha's Angul to help plans for expansion

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 abandons oil venture with Venezuela's crude producer PDVSA: Report

Jindal is exiting the deal under which it would have overseen one of Petroleos de Venezuela's key installations for producing and processing heavy-crude oil for export

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

Savitri Jindal, Surjewala's son file papers for Haryana Assembly polls

Savitri is the mother of industrialist Naveen Jindal, the Bharatiya Janata Party (BJP)'s Kurukshetra MP, and the widow of industrialist O P Jindal

BC Jindal Group lines up green energy foray with $2.5 bn investment

Founded in 1952, the B C Jindal group is engaged in the manufacturing of steel pipes and pipe fittings

BC Jindal Group enters renewable energy sector with $2.5 bn investment

BC Jindal Group on Thursday announced its foray into India's renewable energy sector, with a plan to invest USD 2.5 billion in the next five years. With an existing portfolio of 1,200 MW thermal power generation in Angul, Odisha, BC Jindal Group has floated a dedicated entity to hold the renewable venture of the group, a statement said. The group plans to invest around USD 2.5 billion in the renewable energy sector, in the next 5 years, the statement added. BC Jindal Group, India's leading conglomerate, with over Rs 18,000 crore turnover, will oversee the renewable power generation and solar cells and module manufacturing businesses. Jindal India Renewable Energy (JIRE) aims to generate 5 GW of power from solar, wind, hybrid and FDRE modes, to uphold responsible environmental care while achieving decarbonisation, it stated. Along with this, JIRE will also manufacture PV Cells and Modules to tap into the solar demand. Punit Gupta, Executive Director, JIRE, said, "To address India'

Texmaco Rail and Engineering buys Jindal Rail Infra for Rs 615 crore

Mega deal makes Texmaco biggest rolling stock maker in India

'I feel violated': Woman accuses Jindal Steel exec of molestation on flight

The woman, who was seated next to Dinesh Kumar Saraogi, a senior executive at Jindal Steel Group, alleged that he behaved inappropriately

JSW Cement to invest Rs 3K cr to set up manufacturing unit in Rajasthan

JSW Cement on Tuesday said it plans to invest around Rs 3,000 crore to set up a cement manufacturing facility in Nagaur district of Rajasthan. The greenfield, integrated facility will be funded by a mix of debt and equity, the company said. The investment in the new facility includes a clinkerization unit of up to 3.30 MTPA (million tonnes per annum) and a grinding unit of up to 2.50 MTPA, said a statement from JSW Cement, a part of USD 24.25-billion JSW Group. The new plant will also have an 18 MW waste heat recovery-based power generation system, it added. "The proposed investment will be funded through a mix of equity and long-term debt," it said. This new plant is also expected to create more than 1,000 direct and indirect job opportunities, JSW Cement said. The investment also includes around 7-km overland belt conveyor to transport limestone from mines to the manufacturing plant and arrangements to use alternative fuel in the kiln. JSW Cement Managing Director Parth Jindal

JSW Steel Q4 results: Profit plunges 64.5% as revenues take a hit

The company also announced the appointment of Swayam Saurabh as the chief financial officer (CFO Designate), who will take over from Rajeev Pai next month

Jindal Stainless Q4 results: Net profit declines 30% to Rs 500 crore

Jindal Stainless on Wednesday reported a 30 per cent fall in consolidated net profit to Rs 500.65 crore for the March quarter on account of lower income. It had clocked Rs 716.29 crore net profit during the fourth quarter of FY23, the company said in an exchange filing. The company's total income also decreased to Rs 9,509 crore from Rs 9,803.01 crore in January-March FY23. During the period under review, its expenses stood at Rs 8,805.55 crore against Rs 8,885.45 crore a year ago. The board of the company also recommended a final dividend of Rs 2 per equity share for the financial year ended March 31, 2024. Jindal Stainless is the country's largest stainless steel making company.

Highlights of the day: Two planes collide at Heathrow Airport while aircraft being towed

From Congress' meeting to plan for Delhi's Lok Sabha seats to the tremors felt in J&K, catch all the updates from around the world here

JSW Energy raises Rs 5K cr by selling shares to investors, including ADIA

JSW Energy Limited has raised Rs 5,000 crore by selling shares to institutional investors, including Abu Dhabi Investment Authority (ADIA), to accelerate its growth plans. In a late regulatory filing on Friday, the company informed that it has successfully completed its Rs 5,000-crore Qualified Institutions Placement (QIP). JSW Energy said the proceeds from the QIP will further bolster its capital structure, enhance financial flexibility and enable the company to accelerate its ambitious growth plans. "The issue garnered a very strong interest from marquee global long-only investors, domestic mutual funds and insurance companies...," it added. The QIP witnessed more than 3.2 times subscription. Some of the largest global asset managers, such as GQG, Blackrock, Nomura, Wellington, UBS and ADIA, participated in the QIP issue. "This marks the first-ever equity raise by the company since its listing in 2010," JSW Energy said. This is the largest primary equity raise in the Indian po

Meet Savitri Jindal: BJP leader, richest Indian woman with $33 bn net worth

Savitri Jindal, the chairperson of the Jindal Group, has served as a former Haryana minister in the Bhupinder Singh Hooda-led Congress government

Jindal Stainless to divest entire 26 pc stake in Jindal Coke by September

Jindal Stainless on Wednesday said it aims to complete divestment of its entire 26 per cent stake in Jindal Coke by September this year. In the first tranche, the company has offloaded 4.87 per cent shares in Jindal Coke for over Rs 36.49 crore. These shares were picked up by JSL Overseas at the same price, according to a regulatory filing. At the same time, Jindal Stainless has acquired a majority stake in Spanish entity lberjindal. In January, the board of the company gave in-principle approval for the acquisition of up to 100 per cent stake in Iberjindal S.L., a subsidiary company based in Spain, and divest 26 per cent equity stake held in its associate company Jindal Coke Ltd (JCL). Jindal Stainless Ltd (JSL) executed a share purchase agreement with JSL Overseas Ltd (JOL) on March 26, 2024, for the sale of a 4.87 per cent equity stake in JCL, the company said in the filing. "The company has transferred 15,80,000...equity shares of the face value of Rs 10 each at a price of Rs

JSW Steel, Italy govt sign agreement to relaunch Piombino steel hub

Apart from doubling the current rail-making capacity from 300,000 tonnes to 600,000 tonnes per annum, the investments at Piombino are aimed at making the rail mill more efficient

JSW Steel forms JV with Japanese firm to produce steel variety in India

New company will be set up with a planned investment of Rs 5500 cr