Jindal Steel And Power Limited

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

Jindal Steel and Power shares hit 52 week high on strong Q4 performance

The surge came after the company announced a strong set of quarter-ending March of financial year 2024 (Q4FY24) results

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

Jindal Steel & Power commissions 6 MTPA hot strip mill at Angul steel plant

Jindal Steel and Power (JSP) Ltd on Friday announced the commissioning of a 6 MTPA hot strip mill at its steel manufacturing facility in Angul, Odisha. The mill has been commissioned in a record time of 29 months, the hot strip mill (HSM) produced the first set of coils on January 10, 2024, which were dispatched this week on Monday, JSP said in a statement. "Supplied by SMS SIEMAG, the HSM is capable of producing 1.00 mm thick and 1,680 mm wide coils and is equipped with advanced features like transfer bar cooling, edge heater, coil box, and heat shields, ensuring top-notch flatness, uniform mechanical properties, and production of superior value-added grades," it said. Commissioning of the HSM positions the company to cater to various sectors, including auto, construction, oil, downstream cold rolling, galvanising, colour coating, etc, JSP said. "Commissioning of HSM at Angul is an important milestone for Jindal to become a serious player in the flat products market. That it has b

Jindal Steel & Power hits over 3-month low, slips 7% post Q2 results

Analysts at Prabhudas Lilladher cut FY24/25E Ebitda estimates by 9 per cent/7 per cent on higher coking coal price assumption and delays in capacity addition

Coking coal rates pushing up steel prices in India: JSP MD Bimlendra Jha

Steel prices in India are registering an upward trend due to "rapidly" increasing rates of key input material coking coal, industry executive Bimlendra Jha said. Coking coal and iron ore are the two main raw materials used to manufacture steel. While iron ore is available in substantial quantity in India, steel players are bound to meet 90 per cent of their coking coal requirement through imports from countries like Australia and South Africa. "Coking coal prices have increased rapidly (which are) currently trading at USD 341 per tonne CFR (cost and freight) India, from USD 230 a tonne in June-July 2023," Jha, Managing Director of Jindal Steel and Power (JSP), told PTI. The steel industry is facing an upward movement in prices because there has been a dramatic shift in coking coal prices, so the industry has no option but to pass on the cost to consumers, he said in reply to a question on increasing rates of steel in India. As per markets research firm SteelMint India, the cost of

JSPL net profit declines 13% to Rs 1,692 crore in Q1 due to high expenses

Private steel player Jindal Steel and Power Ltd (JSPL) on Friday posted a 13 per cent decline in consolidated net profit to Rs 1,692 crore for the June quarter due to higher expenses. It had clocked a net profit of Rs 1,990 crore in the April-June period a year ago, the company said in a regulatory filing. The company's total income was at Rs 12,643 crore in the first quarter of the current fiscal compared to Rs 13,069 crore in the year-ago period. Its total expenses rose to Rs 10,876 crore from Rs 10,566 crore. "We have achieved a significant milestone of successfully commissioning our state-of-the-art pellet plant at Angul (Odisha). "We have also signed mining lease for two thermal coal mines -- Gare Palma IV/6 and Utkal C -- which will lead to consistent availability of coal for our thermal coal requirements in DRI (Directly Reduced Iron) kilns, coal gasification and power plants at lower costs," JSPL Managing Director Bimlendra Jha said in a statement. During the quarter, the

Sajjan Jindal may acquire 48% stake in MG Motor India, govt onboard

When concluded, the deal will leave at least 51 per cent stake of the company in Indian hands

ACC, Nykaa, HDFC AMC and Muthoot Fin likely to be dropped from Nifty 100

Jindal Steel and Power, Punjab National Bank, TVS Motor, Tube Investments and Zydus Lifesciences are expected to get added to the index

Promoter group firms have fully repaid loan against shares, says JSPL

Companies are part of Naveen Jindal group, which is following a deleveraging strategy

JSPL gets nod to manufacture India's first fire-resistant steel structures

Jindal Steel and Power Ltd (JSPL) on Sunday said it will manufacture India's first fire-resistant steel structures at its unit in Raigarh, Chhatisgarh. With the production of a special steel item for the first time in India, the company will target segments like refineries, bridges, metro projects, industrial structures, steel, power plants, hospitals, commercial and residential buildings, JSPL said in a statement. "JSPL has received BIS certification to manufacture India's first fire-resistant steel structures at its rail mill in Chhattisgarh. The BIS 15103 grade steel structural steels are designed to withstand temperatures up to 600 degrees celsius for 3 hours," it said. The grade is being imported at present. The new grade steel structures will help the nation to reduce dependence on imports, the company said. "The license provided to the company will be a game-changer in strengthening India's infrastructure & its safety standards. Fire-resistant steel will provide much-needed

Jindal Steel & Power net profit down 68 per cent to Rs 518.67 crore

Revenue from operations on a consolidated basis at Rs 12,452.44 crore declined by 0.57 per cent over the same period last year

JSPL sees 'very good reason' to consider RINL, NMDC: MD Bimlendra Jha

State-owned companies marked out for divestment are attractive assets, he says in interview

Stocks to Watch: Paytm, HUL, ICICI Bank, HDFC Bank, Jindal Steel, Pharma

Stocks to Watch Today: Shares of Paytm are likely to be in limelight as the company plans share buyback; board to meet on December 13.

Naveen Jindal group weighs aluminium foray, plans depend on mine

Company sees consumption rising as electric vehicles increase and light metals become more important

Near-term margin pressures for JSPL on likely tapering of steel prices

Captive coal availability and zero-debt target by the end of the year are positives

Stocks to Watch Today: HDFC Bank, ICICI Pru, Jindal Steel, Spandana, LTTS

Stocks to Watch Today: Alok Textiles, Ganesh Corporation, Hiedelbergcement, Bank of Maharashtra and Nelco to announce Q1 results on Monday.

JSPL net profit at Rs 2,771 crore in June quarter on higher income

During the quarter under review, its total income rose to Rs 13,069.17 crore from Rs 10,643.17 crore a year ago

Sensex snaps 4-day losing run, up 345 pts; Nifty tops 16K; Auto, FMCG lead

CLOSING BELL: Tata Consumer Products, Titan, Eicher Motors, HUL, Tata Motors, Maruti, M&M, Nestle India, HDFC, L&T, and BPCL topped the charts

Stocks to watch: ACC, L&T Tech, L&T Infotech, JSPL, Glenmark, Tata Elxsi

Stocks to watch today: L&T Technology Services and Jindal Steel and Power will share June quarter 2022 (Q1FY23) results on Friday, July 15.