Page 5 - Jindal Steel

Metal stocks slide; Jindal Steel cracks over 17% amid export duties

Metal stocks faced heavy drubbing on Monday, with Jindal Steel & Power cracking over 17 per cent, after the government imposed export duties on steel-making raw materials. Shares of Jindal Steel tumbled 17.40 per cent, JSW Steel tanked 13.20 per cent and Tata Steel plunged 12.53 per cent on the BSE. Also, NMDC declined 12.44 per cent, SAIL (10.96 per cent), Hindalco Industries (3.65 per cent), APL Apollo Tubes (3.42 per cent) and Vedanta (2.77 per cent). The metal index also tanked 8.33 per cent to end at 17,655.22. Tata Steel was the biggest drag in the Sensex pack. "Volatility was hallmark of today's trade. Volatility struck benchmark Nifty as it was aiming to build on to morning gains. Blame it to Nifty metal index which dropped over 8 per cent after government hiked duty on steel products," said Prashanth Tapse, Vice President (Research), Mehta Equities Ltd. The government has waived customs duty on the import of some raw materials, including coking coal and ferronickel, used

MSCI rebalancing could see addition of three Indian stocks, two deletions

Tata Elxsi, Jindal Steel seen as inclusion candidates; move could see a churn of Rs 6,900 crore by funds tracking the index

Govt to finalise Pawan Hans sale Saturday, JSW among bidders: Report

The asset sale plan will help bridge the budget gap and meet spending targets as the economy faces fresh headwinds from the geopolitical tensions

ED raids JSPL offices over suspected violation of forex regulations: Report

NEW DELHI (Reuters) - India's federal financial crime fighting agency raided offices of Jindal Steel & Power Ltd (JSPL) in New Delhi on Thursday over suspected violation of foreign exchange regulations, a source familiar with the matter said.

Steel stocks in focus; SAIL gains 4%, Jindal Steel hits 52-week high

India's top steelmakers have increased rebar and HRC (Hot Rolled Coil) price by around Rs 1,500-Rs 2,000 a tonne due to rising raw material cost, reports suggest

In a position to recover cost increase in exports: JSPL's V R Sharma

"We are going to increase exports from 25 per cent to 35 per cent of production and even more if need be," said Sharma

DCM Shriram, Jindal Steel: Mehul Kothari's stock picks in this volatile mkt

Despite the market volatility, the stock of JINDAL STEEL has been doing really well recently

Sensex slides 366 pts, Nifty below 16,500; auto stocks bleed; IT dazzle

CLOSING BELL: Ultratech Cement, HDFC Life, Asian Paints, Shree Cement, Eicher Motors, SBI Life, and Tata Consumer Products were the top laggards, down up to 6.5 per cent

Stocks to Watch: Airtel, Vedanta, IRCTC, Bata, Jindal Steel, RITES, Power

3i Infotech, ACC, Aurobindo, Berger Paints, DCB Bank, GMR Infra, Indiabulls Housing, NDTV, Nykaa, Petronet, PowerGrid Corp, SAIL and Tata Power to report earnings today.

Sensex snaps 3-day losing run, ends 187 pts up; RIL gains 2%, PSBs shine

The 30-pack index was lifted by Tata Steel (up 3 per cent), RIL (up 2 per cent), Bajaj twins, and Asian Paints

JSW Ispat Special Products posts Rs 28 crore net loss in Dec quarter

It had reported a net profit of Rs 29.49 crore in the year-ago quarter

Rail rake shortage hurts steel delivery of Odisha, Karnataka steel mills

Industry officials said inventory build-up at various plant locations is also an issue

JSW announces R&R compensation package for its Rs 55,000-cr Paradip project

Leading Indian steelmaker JSW has declared a special rehabilitation and resettlement (R&R) compensation package for the would be affected people before going ahead with its plans to set up a Rs 55,000 crore steel plant in Odisha's Jagatsinghpur district. The R&R compensation package for the project affected people with ration card in the land losing villages of Nuagaon, Gada Kujang and Dhinkia Gram Panchayat, for its integrated steel plant at Paradip, is announced based on discussions at the district, gram panchayat and village level with extensive participation of villagers, district administration and other stakeholders to elicit public opinion, an official said. The Posco project in the same area was withdrawn earlier due to stiff resistance from the local people during the land acquisition activities. The compensation announced now by the JSW is way above the policy provisions outlined in the Rehabilitation & Resettlement Policy, Odisha, 2006, the official said. JSW ...

JSPL to bid 'aggressively' for debt-laden steel maker NINL next week: MD

December 23 is the scheduled date for bidding for Neelachal Ispat Nigam Ltd (NINL)

JSW Steel plans to levy surcharge on steel products as input cost mounts

To offset the rising input cost, the domestic steel giant JSW Steel is planning to levy a surcharge

Jindal Steel and Power prepays $106 million debt for Australian arm

JSPL has made a pre-payment of USD 106 million (about Rs 777.4 crore) to the lenders of its arm Jindal Steel & Power (Australia) Ltd. Without sharing further details, the steelmaker said the prepayment has helped the company reduce the "Australian debt" by approximately 50 per cent. In a statement on Wednesday, Jindal Steel and Power Limited (JSPL) said through its step down subsidiary, Jindal Steel & Power (Australia) Ltd it has made a pre-payment of 105.66 million USD (approximately Rs 777.4 crore). The company is now aiming to clear all its overseas debt in the coming quarters, the statement said. JSPL Managing Director V R Sharma said, "We are paying back to lenders before time in order to strengthen our balance sheet. The company is aligned with the India growth story and we want to become a net debt-free company by FY23 through accelerated deleveraging". Part of O P Jindal Group, JSPL has a presence in steel, power and mining sectors. The company has made investments ...

Jindal Steel plans $2.4-billion spend in six years, double output

The steelmaker plans to raise total crude steel capacity to 15.9 million tons by March 2025 from 8.6 million tons, the New Delhi-based company said in an investor presentation on Tuesday

Andhra govt allots land to OP Jindal's Rs 7,500-crore steel plant

: The Andhra Pradesh government on Thursday issued orders allotting 860 acres of land to Jindal Steel & Power Limited for setting up a 2.25- million tonne per annum integrated steel plant at an investment of Rs 7,500 crore. According to the GO, the proposed plant at Thamminapatnam inSPSR Nellore district, is expected to create employment to 2,500 people directly and 15,000 indirectly. The government, after careful examination of the matter, hereby accord permission to APIIC for allotment of land to an extent of 860 acres at Thamminapatnam and Momidi Village of Chilakur Mandal of SPSR Nellore District to Jindal Steel Andhra Limited, as per the rates fixed by APIIC for establishing an integrated steel plant with a condition that R&R charges, if any, shall be borne by Jindal Steel Andhra Limited as agreed by them, the GO said. The OP Jindal Group has a dominant presence in steel, power, mining and infrastructure sectors with a total steel production of 11.6 MTPA and

Jindal Steel opens capex window amid continued deleveraging plans

To double capacity via internal accruals with eye on debt/EBITDA ratio

Jindal Steel prepays Rs 2,462 cr term loans, pares debt beyond commitment

JSPL has recently announced divestment of its thermal power business to reduce its debt further as well as to cut down on its carbon footprint by almost half