Page 11 - Jsw Steel

Enough liquidity to handle capex for growth cycle: JSW Steel Joint MD & CEO

Acharya says that the company is on track with its expansion plan

JSW Steel Q3FY24 results: Net profit grew 5x in Q3 on robust demand

Net profit for the quarter beat Bloomberg consensus estimate of Rs 2,170.5 crore. But it trailed revenue estimates of Rs 42,774.5 crore

JSW Steel Q3 result: Profit rises 5-fold to Rs 2,415 crore on strong demand

The company's consolidated net profit rose to Rs 2,415 crore ($290.7 million) for the quarter ended Dec. 31 from Rs 490 crore a year earlier, according to an exchange filing

JSW Steel's crude steel output grows 12% to 6.87 MT in October-December

JSW Steel on Tuesday reported a 12 per cent year-on-year rise in its consolidated crude steel production to 6.87 million tonnes (MT) in October-December period of ongoing fiscal. Its consolidated crude steel production was at 6.14 MT in the same period last financial year, according to a statement. From its India operations, the company produced 6.63 MT of steel in October-December, up 9 per cent over 6.06 MT in the year-ago period. In India, the capacity utilisation level stood at 94 per cent in the third quarter. JSW Steel USA - Ohio produced 0.24 MT steel, up three-fold from 0.8 MT produced in October-December 2022-23. JSW Steel is the flagship business of the diversified USD 23 billion JSW Group.

JSW Group to double investments in Tamil Nadu: Chairman Sajjan Jindal

Noted industrialist and Chairman of the diversified conglomerate JSW Group Sajjan Jindal on Sunday said his company is planning to double the investments made in Tamil Nadu across sectors over the next few years. Jindal, who is here to take part in the Global Investors' Meet organised by the Government of Tamil Nadu said JSW as a group has invested Rs 15,000 crore in the state till date. JSW Group has a presence in Tamil Nadu with its JSW Steel and JSW Energy businesses. Heaping praise on the ruling DMK government, Jindal said Tamil Nadu has been a pioneer in the development of industries and continues to provide the right ecosystem that nurtures entrepreneurship with innovation at its core. Tamil Nadu's growth across sectors, especially automobile, auto-components, fertilisers, sugar, textiles and Information Technology has helped position India as a frontrunner on the global map, he said. Jindal also remarked that the state has the highest number of factories manufacturing ...

No pre-election lull in execution, orders so far, say cement, steel firms

Cement dealers and executives from ratings agencies echo Acharya's view

JSW Steel arm Periama acquires JSW USA, purchases remaining 10% stake

JSW Steel on Tuesday said its arm Periama Holdings LLC (Periama) has completed the acquisition of JSW USA by purchasing the remaining 10 per cent stake in its "common stock". Periama Holdings LLC (Periama) is a wholly-owned subsidiary of domestic player JSW Steel. "Periama on December 18, 2023 (US time) completed the acquisition by purchase of the remaining 10 per cent stake in the Common stock of JSW USA," the filing said. Consequent to completion of this acquisition, Periama's shareholding in JSW USA has increased from 90 per cent (pre-acquisition) to 100 per cent (post-acquisition) and JSW USA has become a wholly-owned subsidiary of Periama and a step down wholly-owned subsidiary of JSW Steel, it said.

Periama completes acquisition of remaining 10% stake in JSW Steel's USA arm

In October this year, JSW Steel announced that Green Suppliers and Services Pte Ltd has approached Periama about their intention to sell their stake in JSW USA

JSW group stocks decline amidst rape allegation against chairman Jindal

The shares of the group's flagship firm, JSW Steel, fell 1.5 per cent, JSW Holdings fell 1.3 per cent, and Shiva Cement fell 2.4 per cent

JSW USA to raise $145 mn loan for capex Moody's affirms stable ratings

Company's reliance on long-term external financing will be critical, says agency

JSW Steel reports 11% rise in consolidated crude steel production in Nov

JSW's consolidated crude steel production was at 1.94 MT in the same month last year

Import influx, post-festival slack in demand prompt steel price correction

According to market sources, steel companies have corrected the list price by 2-3 per cent for December to align with the levels at which the market was operating

JSW Steel USA Ohio plans to raise long-term funds in United States

JSW Steel USA Ohio is planning to raise long-term funds in the municipal bond markets in the United States, according to an exchange filing. JSW Steel USA Ohio is a wholly-owned indirect subsidiary of home-grown steel maker JSW Steel Limited. JSW Steel USA Ohio is considering a proposal for raising long-term funds of around 30 year's tenor in the municipal bond markets in the USA, JSW Steel said in the filing. "The Jefferson County Port Authority expects to issue its Economic Development Revenue Bonds (JSW Steel USA Ohio, Inc. Project), Series 2023 in the aggregate principal amount of USD 145,000,000 (the Bonds) on or about December 20, 2023, the proceeds of which will be utilised for extending a loan to JSW Ohio," it said. Jefferson County Port Authority is a port authority and a body corporate and politic organized and existing under the laws of the State of Ohio. The Bonds will be repaid out of proceeds from repayment of loan received from JSW Ohio and the bond holders will hav

Steel firms to hike qtrly contract prices after downward revision earlier

Tata Steel, JSW Steel, ArcelorMittal Nippon Steel India and other producers settling contracts

Warning signs: Over 100 died in mishaps at India's top firms in FY23

The 33 companies had a combined employee strength of 2.9 million. For some companies, though, the employee strength may not include contract labour

Stocks to Watch: TCS, JSW Steel, NMDC, PFC, ONGC, HPCL, LTIMindtree, Apar

Stocks to Watch on November 24, 2023: TCS will turn ex-buyback today; govt plans to ask ONGC to consider launching a rights issue to help fund green projects at refining arm Hindustan Petroleum Corp

JSW Steel completes Rs 750 cr investment in JSW Paints to fuel expansion

JSW Steel on Thursday said it has completed the Rs 750 crore investment in JSW Paints Pvt Ltd (JSW Paints). Like JSW Steel, JSW Paints is a group company of Sajjan Jindal-owned JSW Group. In a regulatory filing, JSW Steel said it has completed the last tranche of investment of around Rs 75 crore in JSW Paints on Wednesday. "With the last tranche of investment of Rs 74,99,99,903, the company has completed making the entire investment of Rs 750,00,00,000 in JSW Paints and has been intimated by JSW Paints today that it has on November 22, 2023, completed the allotment in respect of the aforesaid strategic investment," the filing said. Post this allotment, the company holds 2,94,82,565 equity shares in JSW Paints, representing 12.84 per cent of the issued and paid-up equity capital of JSW Paints (11.85 per cent on a fully diluted basis). On July 23, 2021, the JSW Steel board approved to make a strategic investment of Rs 750 crore in JSW Paints in 3-4 tranches between between FY 2021-2

Stocks to Watch today, Nov 17: Delhivery, IDBI Bank, TVS Motor, Oil-linked

Stocks to Watch on Friday, November 17, 2023: SoftBank may offload around 31 million, or 4 per cent stake, in Delhivery for $150 million

JSW Steel beaten in race for Teck Resources Limited's coal business

Last month, the Sajjan Jindal-led steel giant confirmed that it had not changed its plans for a potential stake buy in Teck's unit.

JSW Steel reports 12% rise in consolidated crude steel production in Oct

JSW Steel on Thursday reported a 12 per cent rise in its consolidated crude steel production to 23.12 Lakh Tonnes (LT) in October. Its consolidated crude steel production was at 20.64 LT in the same month last year, according to a statement. From its India operations, the company produced 22.36 LT of steel in October, up 9 per cent over 20.49 LT in the year-ago period. India operations' production includes the crude steel production of JSW Ispat Special Products Ltd (JISPL) and its subsidiary Mivaan Steels Ltd. In India, the capacity utilisation level stood at 95 per cent in October. JSW Steel USA - Ohio produced 0.76 LT steel compared to 0.15 LT produced in October 2022. JSW Steel is the flagship business of the diversified USD 23 billion JSW Group.