Page 3 - Jindal Steel

Jindal India plans to invest Rs 1,500 crore to expand production capacity

Jindal India, a downstream steel player, on Thursday announced its plans to invest Rs 1,500 crore to increase its annual production capacity to 1.6 million tonne. The expansion focuses on the production of coated flat products, pipes, and crash barriers, the company said in a statement. "Jindal India announces a capex spend of over Rs 1,500 crore to effect a strategic capacity expansion of 0.6 Million MT, a 60 per cent increase from its current capacity of 1 million metric tonne per annum," it said. The expansion is expected to be completed by the financial year 2025-26, while the production is slated to be started within the ongoing fiscal, it said. The increased focus on rapidly augmenting the nation's highway network with critical safety components such as crash barriers is a key area where Jindal India has been adding value, a company spokesperson said. Part of B C Jindal Group, Jindal India Limited is into manufacturing of colour-coated and galvanized steel sheets and coils,

JSPL, JRPL sign pact to invest in green hydrogen production in Odisha

The steel producer said on Monday that this represents the largest investment in green hydrogen by any Indian steelmaker

Jindal Steel Q1 results: PAT falls 21% to Rs 1,338 cr on weak steel demand

In April-June, general elections, which lasted for nearly half quarter, led to muted steel demand, analysts said, which was compounded by higher costs of rebar, a key raw material for steelmakers

Budget 2024: FinMin announces Critical Mineral Mission; what we know so far

Union Budget 2024: Finance Minister Nirmala Sitharaman announced the government will soon conduct the first round of offshore mineral auction round under the Critical Mineral Mission

'I feel violated': Woman accuses Jindal Steel exec of molestation on flight

The woman, who was seated next to Dinesh Kumar Saraogi, a senior executive at Jindal Steel Group, alleged that he behaved inappropriately

Jindal Steel & Power stock already factoring in improving prospects

Given a higher conversion of semis into value-added products, JSPL expects realisation and profitability to improve

Jindal Steel Q4 results: PAT at Rs 933 cr, up 100.2%; revenue falls 1.4%

BENGALURU (Reuters) - India's Jindal Steel & Power reported on Monday a fourth-quarter profit that doubled from a year earlier as input costs declined.

Pre-market: Nifty key levels; Stocks to react to Q4 nos, IIP data on May 13

All you need to know before the market opens on Monday, May 13: Gift Nifty hints gap-down open; India's IIP growth rate slows; Jindal Steel, DLF, UPL and Zomato Q4 results today.

BSE Metal index surges 3% as base metals climb to multi-year highs

Metal stocks top performers: Here's why metal stocks were in demand on the Dalal Street on Wednesday.

SAIL at 14-yr high; Can steel stocks extend rally? Here's what charts say

The Nifty Metal index has gained 6% in the last 3 days outperforming the benchmark Nifty. Here's a technical outlook on SAIL, Tata Steel, JSW Steel and Jindal Steel.

Steel stocks surge up to 5% on muted Chinese steel output

The stocks of domestic steel companies surged nearly 5 per cent on Monday, on the back of muted steel production data from China. Share prices of Tata Steel, Jindal Steel and SAIL moved up

Jindal Stainless supplies steel for Kolkata's underwater metro project

Jindal Stainless Ltd on Sunday said it supplied 75 tonnes of high-end steel for Kolkata Metro's Esplanade-Howrah Maidan section which passes below the Hooghly River in West Bengal. The underwater metro project was inaugurated by Prime Minister Narendra Modi earlier this month. Jindal Stainless in a statement said it supplied premium 'SS 301LN' grade of stainless steel for coaches and infrastructure of the project which is a part of the East-West Metro corridor linking Howrah Maidan to Salt Lake Sector V. SS 301 N is corrosion-resistant grade which does not require regular repair and maintenance and is the most cost-effective solution on a life cycle cost basis, JSL said adding it supplied 75 tonnes of steel.

JSW Steel forms JV with Japanese firm to produce steel variety in India

New company will be set up with a planned investment of Rs 5500 cr

Jindal Steel cuts export forecast on Red Sea crisis, weaker EU, US demand

The company is exploring "new options" and a "variable freight model", Jindal said, as part of efforts to deal with the challenges posed by attacks launched by the Iran-allied Houthi militia on ships

Jindal Steel & Power commissions 6 MTPA hot strip mill at Angul steel plant

Jindal Steel and Power (JSP) Ltd on Friday announced the commissioning of a 6 MTPA hot strip mill at its steel manufacturing facility in Angul, Odisha. The mill has been commissioned in a record time of 29 months, the hot strip mill (HSM) produced the first set of coils on January 10, 2024, which were dispatched this week on Monday, JSP said in a statement. "Supplied by SMS SIEMAG, the HSM is capable of producing 1.00 mm thick and 1,680 mm wide coils and is equipped with advanced features like transfer bar cooling, edge heater, coil box, and heat shields, ensuring top-notch flatness, uniform mechanical properties, and production of superior value-added grades," it said. Commissioning of the HSM positions the company to cater to various sectors, including auto, construction, oil, downstream cold rolling, galvanising, colour coating, etc, JSP said. "Commissioning of HSM at Angul is an important milestone for Jindal to become a serious player in the flat products market. That it has b

Reliance, Jindal among six firms to get incentives for making electrolysers

Reliance Electrolyser Manufacturing, Jindal India and John Cockerill Greenko Hydrogen Solutions are among the six firms who have emerged as successful bidders for getting incentives to set up facilities to manufacture electrolysers, a critical component required for green hydrogen production. The bids came in response to a tender by Solar Energy Corporation of India (SECI) inviting players for setting up 1.5GW manufacturing capacity for electrolysers, as per a SECI statement. Bids for electrolysers manufacturing were invited on July 7 last year. A SECI statement issued on January 12, 2024, showed that Reliance Electrolyser Manufacturing Ltd has bagged incentives of Rs 444 crore for setting up of 300MW of manufacturing capacities for electrolysers. Similarly, John Cockerill Greenko Hydrogen Solutions Private Ltd and Jindal India Ltd have also bagged incentives of Rs 444 crore each for setting up 300 MW manufacturing capacity of electrolysers each. Ohmium Operations Pvt Ltd has bagg

Govt not planning higher taxes on steel imports despite industry's demand

Steel mills want authorities to raise taxes from the prevailing 7.5% on several steel products to curb imports

Vizag Steel Plant forges deal with JSPL for Rs 900 cr working capital

The Rashtriya Ispat Nigam Ltd, known as Vizag steel plant, has forged a deal with Jindal Steel and Power Ltd to get an infusion of working capital up to Rs 900 crore in a bid to propel sales revenue, monthly turnover and slash losses. The timely deal enables the steel plant to procure raw material and start consistent Blast Furnace-3 (BF-3) operations with the planned blowing-in scheduled on December 30 at a capacity of two lakh tonnes of hot metal per month, an official said here on Thursday. "The arrangement with JSPL will ensure availability of about Rs 800 -900 crore for RINL in the form of working capital advance and raw materials required for consistent operation of BF - 3, against which RINL will be supplying about 90,000 tonnes of cast blooms every month from Steel Melting Shop-2 (SMS-2) of RINL," said Vizag Steel Plant's chairman and managing director (CMD) Atul Bhatt in a meeting with the trade unions. According to Bhatt, the arrangement with the New Delhi-headquartered JS

JSW chief Sajjan Jindal denies allegations of rape, calls them 'baseless'

Media reports said Jindal was accused of rape in a report filed at Mumbai's Bandra Kurla Complex Police Station

CRISIL Ratings upgrades Jindal Stainless' rating to stable from positive

Stainless steel producer Jindal Stainless on Monday said Crisil Ratings has upgraded its rating to stable. Crisil Ratings upgraded the company's rating to stable from positive, the company said. "Long-term bank facilities and debt programme of Jindal Stainless Ltd (JSL) were revised from Crisil AA-/Positive to Crisil AA/Stable," the stainless steel producing company said in a filing to the BSE. As per Crisil, the ratings upgrade for Jindal Stainless acknowledges an improved business risk profile, forward integration through recent capacity expansions and acquisitions, and effective working capital management, Jindal Stainless Managing Director Abhyuday Jindal said. The enhanced rating for Jindal Stainless reflects the company's prudent capital allocation strategy for strong business management, Jindal Stainless Group CFO and Executive Director Anurag Mantri said.