Jindal Steel & Power
JSPL reports 29% rise in July standalone steel sales, says demand up
JSPL's export sales contributed 39 per cent of total standalone sales in July 2020.
 "JSPL reports 29% rise in July standalone steel sales, says demand up")
Coronavirus drags Tata Steel production and sales volume in Q1FY21
June sees improvement in sales, utilisation up to 80 per cent
Jindal Steel sells entire stake in Oman plant for over $1 billion
The divestment is in line with JSPL's vision and commitment to continuously bring down its debt and deleverage its balance sheet, the company said in a release
 "Jindal Steel sells entire stake in Oman plant for over $1 billion")
Coalmine auction an opportunity for domestic sponge iron units: Analysts
Sponge iron plants could shift to new technology on availability of coal
Indian steel firms race to plug demand gap in China amid Covid-19 crisis
Though the exact figure for semi-finished exports to China is not known, steel producers say a bulk would have gone to China.
Jindal Steel soars 8% on healthy monthly sales, surges 58% in one month
The company recorded the highest ever standalone steel sales of 640,000 tonnes in May 2020, up 28% year-on-year (YoY), with the revival of domestic demand.
 "Jindal Steel soars 8% on healthy monthly sales, surges 58% in one month")
Metal shares tumble as coronavirus cases jump in South Korea, Italy
The IMF has predicted the epidemic would shave 0.1 percentage points off global growth
 "Metal shares tumble as coronavirus cases jump in South Korea, Italy")
JSPL reports highest ever quarterly steel production at 1.61 MT in Dec
JSPL's Raigarh and Angul operations contributed 817,344 and 792,822 metric tonnes to the production in October-December period
 "JSPL reports highest ever quarterly steel production at 1.61 MT in Dec")
Steel producers raise prices by Rs 1,000-1,500 a tonne as demand perks up
India's iron ore imports tumbled 90 per cent year-on-year during April-October, after a sharp escalation of 172 per cent in the comparable period last year, said CARE Ratings in its report
 "Steel producers raise prices by Rs 1,000-1,500 a tonne as demand perks up")
Steel stocks gain on encouraging sales figures for December quarter
In the past three months, JSPL has rallied 79%, as compared to a 9% rise in the S&P BSE Sensex.
Jindal Steel & Power hits over 6 month high; stock up 23% in two weeks
The stock is trading at its highest level since June 14, 2019
 "Jindal Steel & Power hits over 6 month high; stock up 23% in two weeks")
Jindal Steel & Power hits over 4-month high, zooms 60% in one month
The company has emerged as the highest bidder for Gare IV/1 coal Block (rated capacity 6MTPA) in the recently held coal block auctions at a closing bid of Rs 230/t.
 "Jindal Steel & Power hits over 4-month high, zooms 60% in one month")
Jindal Steel's import brings first Capesize vessel to Gopalpur Port
Essar Shipping-owned vessel carries 105,000 tonnes of limestone for JSPL; Gopalpur is undertaking an expansion plan entailing dredging of the channel to enable it to receive large ships
 "Jindal Steel's import brings first Capesize vessel to Gopalpur Port")
JSPL aims to reduce net debt to below Rs 30,000 cr level in next two years
Jindal Steel & Power (JSPL) on Sunday said it has set a target of reducing its net debt by more than Rs 10,000 crore to below Rs 30,000 crore in the next two years. "JSPL has set target to reduce its net debt by more than Rs 10,000 crore to below Rs 30,000 crore and take EBITDA (earnings before interest, tax, depreciation and amortization) to more than Rs 12,000 crore on a consolidated yearly basis over the next two years," a company statement said. JSPl chairman Naveen Jindal disclosed his plans at the company's 40th AGM in Hisar on September 27, 2019. Jindal said, though there is slowdown, the company is comfortably placed in the market with value added and niche products. The company would be more aggressive in marketing its products and would continue to look to divest the non-core assets, to reduce debt to the target level, he added. "The company has successfully reduced its net debt by more than Rs 4,000 crore in the last fiscal and will continue to work towards doubling the
 "JSPL aims to reduce net debt to below Rs 30,000 cr level in next two years")
Analysts see strong upside in JSPL as risk-reward turns favourable
Valuation attractive; expansion to help firm withstand challenges
 "Analysts see strong upside in JSPL as risk-reward turns favourable")
Companies with high promoter share pledging punished by the bourses
Analysts say investors have turned wary of firms with high promoter pledging, given rising corporate debt
 "Companies with high promoter share pledging punished by the bourses")
Jindal Steel & Power hits over 2-year low; tanks 17% in two days
In the past three months, the stock has underperformed the market by falling 44 per cent, as compared to a 3 per cent decline in the S&P BSE Sensex.
 "Jindal Steel & Power hits over 2-year low; tanks 17% in two days")
JSPL says it is generating enough cash, not defaulted on any payment
The company said all speculations/rumours with respect to payment default are "baseless and false in nature"
 "JSPL says it is generating enough cash, not defaulted on any payment")
Tata Steel takes scrap route to scale up long products business
Steel long products are used in infrastructure and construction segment, an area where the government is laying immense thrust to up investments
 "Tata Steel takes scrap route to scale up long products business")
Jindal Steel posts profit of Rs 1.1 bn in June quarter on higher revenues
The company has reported a consolidated quarterly profit after 14 loss-making quarters, it said in a statement
