Jindal Stainless appoints Ashish Gupta as CFO

Jindal Stainless Ltd (JSL) today said it has appointed Ashish Gupta as Chief Financial Officer (CFO) with effect from March 1, 2016.
"Sub-Committee of Board of Directors of Company in its meeting held on March 9, 2016 on the recommendations of the Nomination and Remuneration Committee of Director and Audit Committee of Directors, have approved the appointment of Gupta as CFO of the company w.E.F. March 1, 2016," it said in a regulatory filing.
Last year, JSL had embarked on a financial re-engineering exercise by distributing Rs 8,580-crore debt among its four firms, a move aimed to reduce interest costs by over 3 per cent.

It also redistributed assets among three entities -- JUSL, JCL and JSHL -- to leverage idle capacity and streamline the operations as well as optimise production.
Following the restructuring exercise, JSHL was listed and JSLs shareholders have been issued shares by JSHL as per the share entitlement ratio of 1:1.
Shares of JSL today closed flat at Rs 18.55 apiece on the BSE.