JSW Steel

Under the Insolvency and Bankruptcy Code (IBC), financially stressed companies can be taken over by new owners through a resolution process

Goldman Sachs has initiated coverage of Indian metal (steel) stocks as itsees India as the next steel demand driver. It is bullish on Tata Steel, JSW Steel, Shyam Metalics among others

JSW Steel and Japan's JFE Steel form a 50:50 joint venture to expand Odisha's Sambalpur plant by 6 mtpa, strengthening eastern India's steel capacity with a Rs 32,000 crore investment

JSW Steel is set to form a 50:50 joint venture with Japan's JFE Steel for a Rs 32,000 crore expansion of Bhushan Power and Steel in Odisha

Proposed 6 mtpa steel plant in Odisha gains traction as JSW and POSCO partner, aligning with efforts by India and South Korea to deepen trade and industrial cooperation

The proposed 50:50 joint venture will establish a 6 mtpa integrated steel plant, marking POSCO's return to Odisha and reinforcing the state's position as a key hub for large-scale steel investments

JSW Steel board on Friday approved a proposal to sign agreements with South Korea-based POSCO Group to enter into a joint venture to set up a 6 million tonne steel project in India. In an exchange filing, JSW Steel said the joint venture project is proposed to be set up in Odisha. "Board of Directors has approved entering into a Share Subscription and Joint Venture Agreement, with POSCO Co., Ltd and POSCO- India Private Limited (together referred to as "POSCO Group") through which Saffron Resources Private Limited ("Saffron"), a wholly owned subsidiary of the Company would become a 50:50 Joint Venture between the Company and POSCO Group," JSW Steel said. The proposed joint venture would set up a greenfield 6 MTPA integrated steel plant in Odisha, the company said. Saffron possesses 887 acres of land in the state that may be used to set up the proposed plant. JSW Steel said further to share subscription and joint venture agreement, the POSCO Group will subscribe to shares of Saffro

The Nifty Metal index, which tracks 15 companies from the metals and mining sector, plunged 4.71 per cent to hit an intraday low of 10,874 on the NSE

Excluding National Aluminium, 14 of 15 index constituents rose on Friday, with Lloyds Metals & Energy, Tata Steel, JSW Steel, Jindal Steel, and APL Apollo Tubes gaining over 3 per cent each

India's small steel producers have warned of production halts due to gas shortages, Reuters reported earlier

In the ferrous space, analysts at ICICI Securities don't foresee any major impact due to ongoing geopolitical tensions as exports share of total steel production is pegged at <6 per cent.

The company has invited bids for both the issues on Wednesday and has hired a few foreign banks to act as arrangers, they added

JSW Steel will develop Minas de RevuboA coking coal mine in Mozambique in phases, a company statement said. Located in the Moatize coal basin of the Tete Province, Minas de RevuboA has 850 million tonne (MT) of reserves, and the potential to yield 250 MT of usable coking coal. JSW Steel said it will develop the mine in phases, with the first phase expected to be developed over the next 2.5 years to produce 2.4 million tonne per annum (MTPA) prime hard coking coal. The project is a step towards JSW Steel's backward integration strategy and is expected to provide long-term supply assurance for one of the most critical and cost-intensive inputs in steel manufacturing. India's domestic premium coking coal resources remain limited, making captive overseas sourcing a strategic imperative. "As we grow to 50 MTPA steel capacity in India by 2030, we hope that this asset will provide strategic and diversified raw material security and cushion JSW Steel against volatile global coking coal ..

JSW Steel said that the production decline was due to the shutdown of Blast Furnace 3 at the Vijayanagar plant for a capacity upgrade, while output growth excluding the unit rose about 8 per cent

Among sector players, Nomura has maintained Buy recommendations on Tata Steel with a target price of ₹220 per share, JSW Steel at ₹1,340, Jindal Steel at ₹1,280, and Lloyds Metals & Energy at ₹1,600

Metal shares declined on Wednesday, following weakness in global markets and a broad-based risk-off sentiment triggered by escalating geopolitical tensions in West Asia

The policy support, safeguard measures, and the likelihood of regulatory adjustments are improving industry visibility, say analysts.

Thus far in CY26, the Nifty Metal has been the best performing sectoral index that moved up around 10 per cent, ACE Equity data shows. In comparison, the Nifty 50 index lost nearly 1 per cent

India's steel consumption to grow by 8 per cent- 9 per cent in the next few years, aided by strong demand from the infrastructure, construction and manufacturing sectors, believe analysts.

On the bourses JSW Steel share price rallied up to 4.01 per cent to an intraday high of ₹1,216.30 per share, nearing its 52-week high of ₹1,223.75.