Page 4 - Jindal Stainless

Jindal Stainless (Hisar) fixes record date for merger with JSL; stock up 3%

JSHL Board approved merger of the company into Jindal Stainless with a swap ratio of 1: 1.95

Jindal Stainless Q3 profit drops 32% to Rs 298.56 cr due to higher expenses

Jindal Stainless on Monday reported 32.4 per cent drop in consolidated profit at Rs 298.56 crore for the quarter ended December, mainly due to higher expenses. The company had posted a consolidated profit of Rs 441.78 crore in the year-ago period, Jindal Stainless said in a filing to BSE. The consolidated revenue from operations of the company in the October-December increased to Rs 6,349.71 crore over Rs 5,670.02 crore in the year-ago period, the filing said. The consolidated total expenses increased to Rs 5,999.69 crore from Rs 5,059.41 crore. Jindal Stainless Managing Director Abhyuday Jindal said, "Agility and adaptability to changing market conditions lies at the core of sales and operations planning at Jindal Stainless. This strategy continued to serve us well in the last quarter and helped us align our sales mix with the domestic demand." "We also undertook focused measures to fulfil our environmental responsibility, including the commitment to power future growth through .

Jindal Stainless reduced 1.4 lakh tonnes of CO2 emissions in FY22, says MD

The country's largest stainless steel maker Jindal Stainless took various initiatives to reduce 1.4 lakh tonnes (LT) of carbon emissions in the last financial year, its Managing Director Abhyuday Jindal said on Monday. The company aims to be carbon neutral by 2050. To achieve the goal, JSL has also created a position of Chief Sustainability Officer (CSO) and appointed Kalyan Kumar Bhattacherjee to the key post, Jindal said in a company statement. "We reduced 1.4 LT CO2 in FY22 through various initiatives. From investing in Renewable Energy, Green Hydrogen production to introducing EVs at our manufacturing plants, we are continuously building an ecosystem that supports our environmental, social, and governance goals (ESGs)," he said. Bhattacherjee will be responsible for leading sustainability initiatives, reducing carbon emissions for the company's current and future capacity expansion plans with the goal to achieve the net-zero target by 2050, JSL said. Bhattacherjee said JSL is

Jefferies turns 'positive' on Indian metals on easing Covid curbs in China

The change in stance comes after almost a year of cautionary view. The Nifty Metal index advanced over 2 per cent while shares of Tata Steel surged nearly 6 per cent

Crucial for India to secure its nickel needs, says Jindal Stainless MD

Firm's MD Abhyuday Jindal says next milestone after completing expansion would be to achieve 100% capacity utilisation, after which it may look at backward integration

Jindal Stainless surges 16% in two days after Quant MF buys 2.6 mn shares

On December 6, Quant Mutual Fund - Small Cap Fund purchased 2.63 million shares representing 0.52 per cent of the total equity of Jindal Stainless at Rs 182.97 apiece on the NSE.

Jindal Stainless ropes in ReNew Power for 300 MW hybrid power project

Leading stainless player Jindal Stainless Limited (JSL) has partnered with ReNew Power to develop its proposed 300 MW hybrid energy project, the company said on Monday. The project will generate 700 million units of green energy annually through a mix of solar and wind technologies, JSL said in a statement. Jindal Stainless has partnered with ReNew Power to setup 300 MW renewable energy project. "JSL has signed a contract with ReNew Power to develop a utility-scale captive renewable energy project for the supply of power to its facility in Jajpur, Odisha," the company said. JSL MD Abhyuday Jindal in an interview with PTI earlier had shared his company's plan of switching from a thermal energy-intensive manufacturing setup to renewable energy alternatives such as solar and wind power in states like Odisha, Haryana and Rajasthan. The plan will be taken forward accordingly post discussions with the interested parties, Jindal had said in September 2022. On the company's partnership wi

Steel stocks firm after export duty removal: GPIL, SAIL climb up to 19%

According to analysts at ICICI Securities, the removal of export duty augurs well for domestic steel players over a longer term horizon

Jindal Stainless Hisar Q2 profit after tax falls 49% to Rs 253 crore

Jindal Stainless (Hisar) Limited (JSHL) on Friday said its profit after tax fell 49 per cent year-on-year to Rs 253 crore in the second quarter ended September 30. The company had clocked Rs 498.58 crore profit after tax (PAT) during the same period of 2021-22, JSHL said in a statement. Its total income rose to Rs 3,957 crore from Rs 3,772 crore in the year-ago quarter. "During Q2, raw material prices saw a downward trend, with nickel prices falling by 24 per cent quarter-on-quarter (q-o-q) and those of ferrochrome by 18 per cent q-o-q. This impacted the realisation and profitability of domestic manufacturers, including JSHL," the statement said. JSHL Managing Director Abhyuday Jindal said the Indian stainless steel industry has suffered a setback due to the export duty levied by the government in May. This duty comes at a time when the domestic market is being dumped with substandard stainless steel imports from China and Indonesia. The industry has made several presentations to

Jindal Stainless Q2 results: Profit more than halves; revenue up 11.5%

While input costs fell 3% as raw material prices cooled off from their peak, power and fuel costs surged about 35%

Stocks to Watch: Central Bank, ITI, M&M, Yes Bank, SpiceJet, PEL, GPT Infra

Stocks to Watch Today: Central Bank of India has removed from the RBI's PCA framework after 5 years; SpiceJet places 80 pilots on leave without pay for three months.

Essar Constructions bags Rs 97 cr contract from Jindal Stainless: Report

Essar Constructions India Ltd (ECIL) , the Indian arm of Essar Projects, on Friday said it has added Jindal Stainless as its client, by winning a Rs 97-crore contract. The order is for mechanical works for blast furnace at Jajpur, the firm said in a social media post. Speaking on the occasion, Sejal Jani, Head - Business Development, Tendering & Estimation, ECIL said, "As we take gradual steps towards building a robust order book, widening the portfolio of clients has also been of importance." While the firm reaches out to showcase its capabilities and connect with new clients, it fully acknowledge that efficient execution was crucial to uphold its image in the market. "ECIL has been strengthening its foothold in the minerals and metals domain. Time and cost effective deliveries of orders won during the past one year has not only led to repeat orders, but also enhanced overall market confidence, leading to opening of new doors," he said. Formed in May 2017 to pursue EPC business .

Jindal Stainless net profit rises 8% to Rs 329 crore in June quarter

The company had a net profit of Rs 305.84 crore in the same period of 2021-22, JSL said in regulatory filing.

Shareholders, creditors approve Jindal Stainless Steel-JSHL merger

Having a total melting capacity of 0.8 million tonne per annum (MTPA), the Hisar-based JSHL is the largest specialty stainless steel producer in India with a diversified value-added product portfolio

Jindal Stainless keen to invest in renewables: MD Abhyuday Jindal

There will be no more investments in thermal energy: Jindal

Jindal Stainless profit zooms to Rs 442 cr in December quarter

Income during the third quarter increased to Rs 5,682.37 crore, from Rs 3,592.04 crore in the year-ago period

Merger of two listed Jindal Stainless companies to spill over to FY23

NCLT yet to approve process; company filed first motion petition with tribunal nearly two years ago

Crisil upgrades Jindal Stainless long-term debt ratings, keeps short-term

Rating agency's report highlighting reasons for upgrade pointed at the improvement in financial risk profile, supported by debt reduction

Jindal Stainless eyes Rs 500-cr revenue from chequered sheet biz in 3 years

Jindal Stainless Limited (JSL) is aiming to garner a revenue of Rs 500 crore from its hot-rolled stainless steel chequered sheet business over the next three years.

Suresh Bose takes charge as chief HR officer at Jindal Stainless

Jindal Stainless Ltd (JSL) on Monday said Suresh Bose has been appointed its chief human resources officer (CHRO), with immediate effect. Bose, who joined on Monday, will be responsible for driving people strategy, workplace culture, talent management and future growth, JSL said in a statement. JSL Managing Director Abhyuday Jindal said, "We want to attract, hire, retain, and grow the best talent in the industry. Given his (Bose's) vast experience in all facets of human resources, I am confident that Suresh is a good fit to lead our future transformation through example and leadership." With close to three decades of experience in wide-ranging HR functions, Suresh has worked with the Vedanta Group, Mahindra and Mahindra, Ford Motors and Larsen & Toubro (L&T), JSL said. Bose has dual Masters in personnel management as well as industrial relations from Tata Institute of Social Sciences (TISS), and Masters in Employment and Labour Studies from the Institute of Social Studies, ...