Inland logistics present great opportunity, says CEO Arun Maheshwari, after acquiring Navkar
Share prices of JSW Infrastructure slipped as much 7.52 per cent at Rs 311 per share on the BSE in intraday deals of Friday.
Its consolidated net profit fell to Rs 292 crore (about $35 million) in the quarter ended June 30 from Rs 321 crore in the year-ago period
Indicating that the company is still interested in the mega Tajpur deep sea port in West Bengal, JSW Infrastructure Ltd said that it remains open to re-evaluate its strategy for the project "if the project comes for re-bidding", a senior official said. JSW Group had failed to emerge as the winning bidder in the last tendering round, where Adani Ports and SEZ Ltd (APSEZ) had emerged as the L1 bidder in October 2022, and a Letter of Intent to Award (LOIA) was handed over to the company. However, Chief Minister Mamata Banerjee's announcement at the Bengal Global Business Summit (BGBS) in November 2023 that a tender would soon be launched for the development of the port. This has led to a cloud of uncertainty around the mega deep-sea port project. Banerjee had announced that the proposed deep-sea port at Tajpur is ready for tender, which would attract an investment of USD 3 billion or Rs 25,000 crore. JSW Infrastructure Joint Managing Director and CEO Arun Maheswari told PTI: "We will
Shares of JSW Infrastructure soared up to 5.3 per cent, hitting its 52-week high at Rs 336 per share on the BSE in Friday's intraday deals
An open offer will be made to the rest of the shareholders of Navkar Corporation which will cost around Rs 412.17 cr
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
In the past six trading days, the index has outperformed by surging 5.4 per cent, as compared to 2.4 per cent rise in the Nifty 50.
Firm to bid for mega projects like Rs 77,000 crore Vadhavan Port, Rs 44,000 crore Nicobar Port
The company, part of steel-to-energy conglomerate JSW Group, said consolidated net profit rose to Rs 330 crore ($39.6 million) in the quarter, from Rs 300 crore a year ago
The company's revenue from operations rose by 19.8 per cent to Rs 1,096 crore on a year-on-year basis. Sequentially, the core revenue was up by 16.6 per cent
The company, in a disclosure earlier, had said the proceeds would be used for investments in JSW Neo Energy, a subsidiary which holds green energy assets and repayment of certain borrowings
JSW Infrastructure on Wednesday said it has incorporated a wholly-owned subsidiary for the execution of a port project at JNPT in Maharashtra. JSW JNPT Liquid Terminal Pvt Ltd has been incorporated on March 13, in Mumbai, according to a regulatory filing. The company said it has received a Letter of Intent (LoI) from Jawaharlal Nehru Port Authority for equipping, operation, maintenance and transfer of additional liquid cargo berths LB3 and LB4 at the port. The terms of LoI require the incorporation of a special purpose vehicle to enter into a concession agreement within 30 days of the issue of LoI. "Accordingly, the company has incorporated a new entity for the purpose of entering into the said concession agreement and to fulfil the obligations as stated in the said agreement," JSW Infrastructure said.
Plant will also have a captive power plant, cement manufacturing unit, township, jetties
The company's consolidated net profit rose to Rs 251 crore (about $30 million) in the October-December quarter, from Rs 115 crore a year ago, sending the shares up by 4%
According to market sources, steel companies have corrected the list price by 2-3 per cent for December to align with the levels at which the market was operating
Closing Bell on December 5, 2023: The S&P BSE Sensex crossed the 69,000-mark decisively and hit a record high of 69,381 during the day
JSW Infrastructure on Monday said it has signed an agreement with SP Port Maintenance, a Shapoorji Pallonji Group company, to acquire majority stake in PNP Maritime Services (PNP Port). The agreement is to acquire over 50 per cent shares in PNP Port through its subsidiary JSW Dharamtar Port, JSW Infrastructure said in an exchange filing. "JSW Dharamtar Port has entered into share purchase and other relevant transaction documents for acquisition of 50 per cent plus 1 shares (10,00,001 equity shares) of PNP Maritime Services Private Limited from SP Port Maintenance Private Ltd," it said. PNP Maritime Services will become a step-down subsidiary of the company, it said. The transaction is for maximum equity purchase consideration of Rs 270 crore. It is expected to be completed in 15 days, the filing said. In a separate statement, JSW Infrastructure said the acquisition is expected to strengthen its position to provide hub-and-spoke model services to customers, thereby saving substanti
Closing Bell on November 17, 2023: The broader markets, on the other hand, notched gains with the BSE MidCap and SmallCap indices rising 0.27 per cent and 0.36 per cent, respectively
The stock hit a new high of Rs 220, and was quoting 85 per cent higher against its issue price