Page 7 - Jindal Steel

Crisil upgrades Jindal Steel NCD ratings to BBB positive as plant restarts

Upgrade reflects improvement in JSPL's business risk profile over medium term

Stock recommendations by Anand Rathi: Buy Shriram Transport Finance, HUL

Stock calls by Jay Anand Thakkar, CMT -Assistant Vice President - Equity Research, Anand Rathi Shares and Stock Brokers

Jindal Steel crude steel production rises 22% from year-ago to 1.61 MT

During the third quarter of FY20, JSPL recorded a growth of 30 per cent in sales at 1.66 MT, as against 1.27 million tonnes a year-ago.

Metal stocks gain; Tata Steel, Hindalco up 4%, Jindal Steel climbs 5%

Investor sentiment perked up after US national security adviser Robert O'Brien on Saturday said an initial trade agreement with China was still possible by the end of the year

Jindal Stainless posts Rs 51.92-crore profit in September quarter

The company had posted a loss of Rs 36.44 crore in the year-ago period, JSL said in a filing to the BSE

Prakash Industries emerges as highest bidder for Bhaskarpara coal block

Prakash Industries on Wednesday emerged as the highest bidder for Bhaskarpara coal block in Chhattisgarh, an official said. Birla Corporation had on Tuesday bagged the Brahmapuri mine in Madhya Pradesh, the official said quoting the results of e-auction for coal mines under the eight tranche. Jindal Steel and Power Ltd (JSPL) was the highest bidder for Gare Palma IV/1 coal block in Chhattisgarh with a bid price of Rs 230 per tonne on Monday. Birla Corporation Ltd bagged the Bikram coal block in Madhya Pradesh with a bid price of Rs 154 per tonne last week. Six mines are on offer. Auctions for four blocks have been completed, the official said. The bidding for Jagannathpur B block and Jamkhani block will take place on Thursday and Friday, respectively. Bhaskarpara coal block was previously allocated to Bhaskarpara Coal Company Ltd (BCCL) -- a joint venture of Electrotherm (India) Ltd and Ultratech Cement Ltd, while Brahmapuri mine was previously allocated to Pushp Steels & ...

Jindal Steel posts consolidated net loss of Rs 399.31 cr in Sep quarter

JSPL, on a consolidated level, produced 1.99 million tonnes of steel and related products and sold 1.82 million tonnes.

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

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

ICIJ-Mauritius leaks: Jindal Steel, GMR Holdings among firms named

Findings trace past linkages of Jindal Steel & Power, GMR Holdings, Apollo Hospitals, Kolte-Patil Developers to such entities

Jindal Stainless chalks out road map to better revenue, build brand

Jindal Stainless sees a long-term demand for their products from the railways and is aiming to strengthen its ties with it

Jindal Stainless plans to invest Rs 15 billion to expand capacity

Company says, with all the infra already available at its Kalinganagar unit, the incremental cost for pursuing expansion will be lower

JSPL may split biz to trim Rs 420 bn debt, sell 30% of Oman unit via IPO

Jindal Steel will seek to progressively sell about 30 per cent of the Oman unit over two to three years

Jindal Steel's units in South Africa file for bankruptcy protection

Business-rescue practitioners for the unit have scheduled a meeting with creditors today

Jindal Steel declares force majeure on Australian mine

Produces about 100,000 tonnes a month of coal used in steelmaking in New South Wales.

Jindal keen to snap up troubled steel companies for expansion

The sector is one of the most stressed, leaving banks with a pile of dud assets

Jindal Steel lines up Rs 8,000 crore investment for its Odisha project

It also intends to lay a pipeline from the point of sourcing iron ore at Barbil in Keonjhar district to its Angul plant at a cost of Rs 800 crore

Jindal Steel repays Rs 285 cr to AMCs

Credit rating agency, CRISIL had in February downgraded the company's papers to 'D'.

Jindal Shadeed all set to tap $6 billion construction market in GCC

According to market analysts here, GCC requires around 15 million tonnes of steel annually