Page 11 - Jsw Group

JSW Group may acquire Ford Motor's Chennai plant to manufacture EVs: Report

The talks to acquire the Ford plant in Chennai started a couple of months ago and are now in an advanced stage, a report said on Wednesday

JSW Group working on plans to make its own EVs, says Sajjan Jindal

JSW Group, which is in talks with MG Motor India to enter the EV space, is also working on a parallel plan to make its own electric vehicles, Chairman Sajjan Jindal said on Friday. Discussions are underway with MG Motor, Jindal said. "We are extremely serious about entering the EV space. MG would be our preferred choice. If it happens, otherwise we are also working parallely to develop our own EV cars," he said on the sidelines of B20 Summit India 2023. EV is an area where JSW Group must enter as it is the future and this is a good time to make foray into this space, Jindal said. In January, JSW Group Chief Financing Officer Seshagiri Rao had told PTI that manufacturing of electric vehicles was being discussed actively at the group level. The group was looking to manufacture electric four-wheelers, Rao had said. JSW Group has a significant presence in sectors like steel, energy, infrastructure, cement, paints, venture capital and sports.

Have to study Vedanta assets; K'taka mines of interest to us: JSW Steel CEO

"While we are indeed looking for iron ore and coking coal assets to ensure raw material security, our primary focus is on domestic acquisitions"

JSW Steel net profit increases 179% to Rs 2,338 cr as sales improve

Capacity utilisation at Indian operations was at 92% compared to 96% in Q4 FY23 due to maintenance shutdowns

Sajjan Jindal may acquire 48% stake in MG Motor India, govt onboard

When concluded, the deal will leave at least 51 per cent stake of the company in Indian hands

JSW Cement raises Rs 400 cr via sustainability-linked loan from BNP Paribas

In October last year, the company had signed another SLL agreement of Rs 400 crore with Japan's Mitsubishi UFJ Financial 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 ...