Page 6 - Jindal Steel
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
 "Andhra govt allots land to OP Jindal's Rs 7,500-crore steel plant")
Jindal Steel opens capex window amid continued deleveraging plans
To double capacity via internal accruals with eye on debt/EBITDA ratio
 "Jindal Steel opens capex window amid continued deleveraging plans")
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
 "Jindal Steel prepays Rs 2,462 cr term loans, pares debt beyond commitment")
Jindal Steel exits Oman biz via balance 51% stake sale to Vulcan Steel
Jindal Steel owned 48.99% in the Oman unit via Jindal Steel & Power (Mauritius) Ltd. The former had made the deal to exit Oman biz last September
SRF, Jindal Steel: Will the likely inclusion in MSCI index trigger a rally?
Tata Motors DVR, Intellect Design and SKF India are among the stocks that may be added to the MSCI SmallCap index
 "SRF, Jindal Steel: Will the likely inclusion in MSCI index trigger a rally?")
Mutual funds continue to trim positions in heavyweights in February
Most large MFs remained underweight on banking and overweight on capital goods
 "Mutual funds continue to trim positions in heavyweights in February")
Jindal Steel keen to acquire bankrupt Reliance Naval & Engineering
A successful sale of Reliance Naval will help creditors, including IDBI Bank and SBI recoup part of the company's Rs 10,800 crore of debt.
 "Jindal Steel keen to acquire bankrupt Reliance Naval & Engineering")
Jindal Stainless chalks out Rs 2,000-3,000 cr capex plan for next 2-3 yrs
Currently, Jindal Stainless' Odisha plant has a capacity of 1.1 million tonnes, while its Hisar plant is a 0.8 million tonne specialised product division
 "Jindal Stainless chalks out Rs 2,000-3,000 cr capex plan for next 2-3 yrs")
Jindal Steel to enter container making biz to address domestic shortages
The company plans to manufacture containers at a price point lower than the landed cost of imported boxes
 "Jindal Steel to enter container making biz to address domestic shortages")
Jindal Steel first private firm to get "regular supplier" tag from Railways
With this, Indian Railways, its arms and track-laying contractors can source 60kg 880 grade (90 UTS) Rails made by JSPL for their ongoing and upcoming projects
 "Jindal Steel first private firm to get \"regular supplier\" tag from Railways")
Selling few iron ore blocks infrequently creates artificial deficit: Jindal
Says people end up paying a huge premium and then the assets become unsustainable
 "Selling few iron ore blocks infrequently creates artificial deficit: Jindal")
Enough capacity to meet India's rail needs, no need to import, says JSPL
The company says that it along with SAIL is equipped to meet Indian Railways entire rail demand
Jindal Steel, Adani Ports: Two stocks that Anand Rathi is bearish on
The stock price of Adani Ports has formed a triple top formation on the daily chart at around 365 levels
 "Jindal Steel, Adani Ports: Two stocks that Anand Rathi is bearish on")
We aren't interested in spending outside the country: Jindal Steel MD
In a Q&A, V R Sharma says the Oman asset sale has helped ease the firm's balance sheet; the deal was part of a plan to prune the company's debt by about a third
 "We aren't interested in spending outside the country: Jindal Steel MD")
Steel companies reorient strategy to capture rising rural demand
While some companies have chalked out a relatively long-term plan to increase market penetration, others are seeing rural demand bounce back to pre-Covid levels
JSW One to combine distribution network of steel, cement businesses
The initiative remains a marketing actitivity and is not a registered company
Tata Steel, JSPL: Morgan Stanley bullish on steel stocks; do you own any?
Supported by strong domestic demand in China, healthy exports, and rebound in domestic demand, global brokerage Morgan Stanley believes the steel industry's profitability cycle is turning faster
 "Tata Steel, JSPL: Morgan Stanley bullish on steel stocks; do you own any?")
Improving realisations may help steelmakers forget Covid-19 memories
Improving realisations and cheaper raw material should help profitability, though domestic demand is yet to reach pre-Covid levels
 "Improving realisations may help steelmakers forget Covid-19 memories")
JSW group will bring down China imports to zero in 2 years: Parth Jindal
While the firm's defence division does not import from China, its other businesses source products from that country.
 "JSW group will bring down China imports to zero in 2 years: Parth Jindal")
Will touch full capacity utilisation level by September: Abhyuday Jindal
He said that the stainless steel sector has a direct correlation with the GDP growth of the country
 "Will touch full capacity utilisation level by September: Abhyuday Jindal")