Page 10 - Jsw Group

JSW Group exploring possibilities to acquire coal mines in offshore markets

Homegrown firm JSW Group is exploring possibilities to acquire coking coal mines in offshore markets, industry sources said. The steel-to-infrastructure group is exploring the mineral assets in countries like Australia and Mozambique etc, they said. "JSW Group is exploring possibilities to acquire coking coal mines in offshore markets like Mozambique, Australia etc for captive purposes," sources said. Captive coking coal mines will help group company JSW Steel reduce its cost of production for manufacturing steel, they explained. When contacted, a JSW Group spokesperson declined to make any comment. JSW Steel is into manufacturing steel through the blast furnace route, a process which requires coking coal as a key raw material. Due to the unavailability of coking coal, India remains dependent on imports to meet 85 per cent of its coking coal needs from far-located countries like Australia, South Africa, Canada and the US. Specifically, JSW Steel meets 60 per cent of its coking c

JSW Infrastructure to invest Rs 152 cr to grow container capacity at NMPT

JSW Infrastructure will invest Rs 152 crore for the expansion of its container capacity at New Mangalore Port Trust, according to sources. In June 2022, the company commissioned its first container terminal at New Mangalore Port Trust (NMPT) in Karnataka, having a cargo capacity of 2.4 lakh twenty equipment units (TEU). On May 9, Sajjan Jindal-owned JSW Infrastructure filed the DRHP with capital markets regulator Sebi to raise up to Rs 2,800 crore through an initial public offering (IPO) to retire debt and support its expansion plans. "Out of Rs 2,800 crore, which the company plans to raise through the initial public offering (IPO), Rs 152 crore will be spent on container capacity expansion," the sources said. As per the plan, the capacity will be increased to 4 lakh TEUs. The modernisation efforts will be undertaken by JSW Infrastructure's subsidiary JSW Mangalore Container Terminal Private Limited (MTPL). A query sent to the company seeking a response remained unanswered. The

China's SAIC Motor plans to sell its stake in MG Motor to domestic entities

SAIC is in the advanced stages of talks with investors from different Indian companies, which include Reliance, Hero Group, Premji Invest, and JSW Group for equity sale

Sajjan Jindal-led JSW Group denies picking up stake in MG Motors, BYD Group

This came after reports emerged stating the talks were in the 'final stages'

Business side of sports very fragmented: JSW Sports' Manisha Malhotra

No consolidation has been made to create an industry of sports, she says

JSW Group in talks with MG Motor India, BYD India to pick up stake

Sajjan Jindal-led conglomerate JSW Group is in talks with MG Motor India to pick up stake in the automobile company, according to sources. The steel-to-sports group is also exploring purchase of stake in BYD India, they said. In January, JSW Group Chief Financing Officer Seshagiri Rao had told PTI that the manufacturing of electric vehicles is being discussed actively at the group level. The group is looking to manufacture four-wheelers, Rao had said in reply to a question on JSW Group's plan to expand its presence into more sectors. "JSW Group is in talks with MG Motor India and BYD India. The early talks are for picking up stake. Talks are on with both the companies," the sources said. When contacted, a JSW Group spokesperson declined to comment. "As a company policy at MG Motor we do not comment on speculation," a spokesperson of the automobile company said when contacted.

JSW Group in talks with MG Motor, BYD India for electric vehicle push

MG Motor India unveiled its compact EV Comet, which has a range of 230 km per charge, last Wednesday

India's JSW Steel plans to sell specialty steel to Russia: Company source

India's JSW Steel plans to sell specialty steel products to Russia this year, a senior company official told Reuters on Wednesday

JSW Group eyes share of country's infra boom, plans to spend $65 bn by 2030

Jindal said steel was "a cyclical business, and we cannot afford to have a high-leverage regime," according to the FT

Pub sector failed world over, pvt sector can take country forward: Jindal

Business tycoon and chairman of JSW Group Sajjan Jindal on Tuesday said that it is be the private sector, not the public sector, that will take India ahead because "ultimately what matters is accountability and profitability". While pointing out that India is on the path of becoming a USD 10-trillion economy in the next ten years, the country needs to adopt a "modern thought process" which is not driven by socialism or a notion that only the public sector can deliver. He made the remarks at the Indian Institute of Management Ahmedabad (IIM-A) after inaugurating the JSW School of Public Policy's new building, a state-of-the-art multi-facility centre at IIMA's new campus. "...we used to talk about a country becoming a USD 5-trillion economy. But today we are talking about USD 10-trillion, visible in the next seven to ten years. The country is growing at neck-break speed. So we need a real modern thought process, which is not driven by socialism or an idea that only the public sector c

Billionaire Raj: The rise of India's multi-business conglomerates

The experience of South Korea, Japan and Russia has shown that the conglomerate model often comes with political connections, but such comparisons can be overblown, writes T N Ninan

JSW Energy steps up focus on battery storage to address intermittency

Intermittency refers to irregular power supply from renewable sources, since they aren't always available; Projects from SECI first in this segment; will look at more, says company MD Prashant Jain

JSW Steel Q3 net profit falls over 85% to Rs 474 crore on higher expenses

Expenses were also higher at Rs 38,288 crore as against Rs 31,986 crore

JSW Energy Q3 net dips 45% to Rs 180 cr, revenue surges 18% to Rs 2,350 cr

JSW Energy on Friday reported a 45 per cent decline in its consolidated net profit to Rs 180 crore for the December 2022 quarter. "(consolidated) Profit After Tax (PAT or net profit) stood at Rs 180 crore (in the quarter ended on December 31, 2022), which is lower YoY (year-on-year) compared to a PAT of Rs 324 crore in the corresponding period of the previous year," a company statement said. The company stated that during the quarter (October-December 2022), its total revenue increased by 18 per cent to Rs 2,350 crore from Rs 1,984 crore a year ago, due to higher realisation (as higher fuel costs are passed through in nature for LT PPAs (long term power purchase agreements). The EBITDA for the quarter was 18 per cent lower at Rs 727 crore vis-a-vis Rs 882 crore in the corresponding period of the previous year. It explained that the decrease is primarily due to lower short-term sales YoY, partly offset by the contribution from Vijayanagar Solar and higher other income in the ...

Stocks to Watch: TCS, Tata Motors, Maruti, Coal India, JSW Group, RITES

Stocks to watch today: Tata Motors reported 10 per cent YoY increase in domestic December sales at 72,997 units as against 66,307 units sold last year

JSW Group mulls foray into EVs, to manufacture 4-wheelers: Seshagiri Rao

Sajjan Jindal-led conglomerate JSW Group is considering a foray into the manufacturing of electric vehicles, according to a top official of the group. "The group had examined EV manufacturing plans earlier also but now it is becoming attractive," JSW Group Chief Financing Officer Seshagiri Rao told PTI. The manufacturing of EVs is being discussed actively at the group level, he said while divulging JSW Group's plan to expand its presence into more sectors. The group is looking to manufacture four-wheelers, Rao said. When asked about details of the manufacturing location, he said it is yet to be decided. On the timeline for the launch of an EV manufacturing facility, he said, "it (plan) is at advanced stages." JSW Group company JSW Steel owns and operates a one million tonne per annum (MTPA) steel plant at Salem in Tamil Nadu. The company manufactures auto-grade steel at Salem plant and supplies the high-value steel to automobile companies including the EVs makers. Besides, the U

IIFCL has sanctioned Rs 8,244 crore loans to develop 20 ports, says MD

State-owned IIFCL has sanctioned Rs 8,244 crore loans to about 20 projects to help add 836 million tonnes per annum (MTPA) of ports capacity, which is one-fourth of India's total cargo volumes, a top company official said. India's total port capacity is about 2,600 MTPA. Of this, 12 major ports' cargo handling capacity stood at 1,598 MTPA as of March 2022. India Infrastructure Finance Company Ltd (IIFCL) has has been extending its financial support to many strategic port projects, including the Paradip Port, Essar Vizag port, Tuticorin, Krishnapatnam, Karaikal. "The latest is the Ramayapatnam port, which reinforces our belief in this very important sector and the potential it holds to improve connectivity, bring down logistics costs, and provide a boost to the economy," IIFCL Managing Director P R Jaishankar told PTI. With investment in three upcoming ports including Ramyapatnam and Bhavanapadu, he said, the capacity would touch 1,000 MTPA with these ports going on stream in a coup

Dalmia-Jaypee deal: Battle for third spot in cement market intensifies

Shree Cement adding 9 mtpa of capacity in the next 15 months, HM Bangur says; total cement production capacity of company to jump to 56.4 mtpa...

Odisha bags about Rs 8.9-trillion investment intent in two days

Tata Power CEO and MD Praveer Sinha announced a Rs 6,000 crore capital investment by the company in Odisha

Jindal, Adani, Mittal line up more projects and investments in Odisha

The spirit was matched by industrialists - the who's who of India Inc who were present on Thursday, the first day of the investment conclave