Page 35 - Jsw Steel

JSW Steel makes offer to buy controlling stake in Monnet Ispat

Sajjan Jindal-led JSW Steel has made an offer to buy controlling stake in Monnet Ispat & Energy Ltd through the strategic debt restructuring (SDR) route. The company is undergoing SDR and lenders, who own 51 per cent stake, are exploring the option of handing over its control and management to outside investors. A source privy to the development said, "JSW Steel has put in final bid and the bankers are considering the offer submitted by JSW Steel. "It is the only company which submitted the final bid. The bid was submitted by the company on February 22." The queries to the companies remained unanswered. The company had earlier said that discussions with the investor are confined to lenders and the management is not involved at this stage. Monnet Ispat has a de-risked business portfolio that encompasses manufacturing and marketing of sponge iron, steel and ferro alloys. MIEL is also engaged in mining of minerals like coal and iron ore.

Buoyed by rise in govt spend, FY18 steel demand to grow 4.5-5%: JSW Steel

Company said it needs to maintain its market share of 15% if steel capacity and demand continue to grow

JSW Steel sole bidder for Monnet Ispat

Monnet's debt increased from Rs 8,606.50 cr in FY13 to Rs 12,499.70 cr in FY15; lenders invoked SDR

Lenders wary of JSW's Bhushan Steel proposal

The main issue with the JSW Steel proposal is the cut the lenders will have to take

JSW bids Rs 25,000 cr for Bhushan Steel

JSW wants to absorb Bhushan Steel's Rs 45,000 cr debts at huge discount, seeks management change

Evaluating opportunities amid buyout reports, says JSW Steel in BSE filing

JSW steel long-term vision is to become a 40 million tonne steel company

JSW Steel, Blackstone in talks to buy Monnet Ispat

In 2015, JSW Energy had signed a non-binding agreement for Monnet Power, but it later backed out

JSW Steel moves up the value chain for stability in performance

Will bid for more iron ore mines as and when it comes up for auction, says senior management official

JSW Steel joins bid to buy Italy's Ilva plant: Source

Italy's government has been trying to find a bidder for the plant, Europe's largest by output capacity

JSW Steel October crude steel output up 31% at 1.34 million tonne

Flat steel production at 9.58 lakh tonne, up 30% on annual basis

JSW Steel strong show in seasonally weak times

Cost pressure will stay but volume growth expected to remain strong

JSW Steel posts 13-fold rise in Q2 profit at Rs 726.46 crore on higher output

Revenue in the second quarter stood at Rs 14,421 crore, up from Rs 11,993 crore in the same quarter last year

JSW Steel gains on stock split plan

Thus far in 2016, the stock rallied 76% as compared to 8% rise in the S&P BSE Sensex.

JSW Steel wins five iron ore mines in Karnataka

Captive source of raw material to augur well for steel producer; estimated reserves of the five mines is 111 million tonnes

JSW Steel's production up 27% to 1.35 MT in August

Company had clocked an output of about 1.07 MT during the same month in 2015, it said in a regulatory filing

JSW Steel to acquire JSW Praxair Oxygen for Rs 240 cr

It has two air separation plants, each with a capacity of 2,500 tonnes per day, in Bellary District of Karnataka

Standout quarter for JSW Steel

Rising volumes, improving realisations and softer input prices pushed performance; however, Sept quarter likely to be softer

JSW Steel reports highest ever quarterly PAT at Rs 1,109 crore

Net sales of the steel producer stood at Rs 12,709 crore in the period under review, up 3% from same period last year

JSW Steel eyes 15 million tonne sales in FY17

The company also completed very low-cost and returns-accretive capacity expansion projects at Vijayanagar, Dolvi and Salem

JSW Steel eyes iron ore mines in Karnataka, other states

The firm also has an objective of achieving a capacity of 40 MTPA in the next decade