Page 3 - Sajjan Jindal

Steel tycoon Sajjan Jindal seeks non-tariff barriers on imports from US, EU

Indian steel tycoon Sajjan Jindal wants the government to counter American tariffs and Europe's carbon tax with a similar levy, to level the playing field for companies like his

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.

JSW Steel Q1FY24 results: Net profit rises 189%, revenue jumps 10.3%

The company's profit in the June quarter was, however, lower than Rs 3,741 crore in the previous quarter

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

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'

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

EY Entrepreneur of the Year 2022 award goes to Sajjan Jindal

A press statement by EY noted that Jindal is making a fast transition to renewable energy through acquisitions as well as decarbonizing the value chain

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

JSW to invest Rs 1 trillion in Odisha in various sectors: Sajjan Jindal

The JSW Group is committed to invest Rs 1 trillion in Odisha in various sectors, including for a mega greenfield steel plant project in Paradip, said its Chairman Sajjan Jindal here on Thursday

Export duty on steel was imposed to control inflation: JSW chairman

The government had levied export duty on steel to control inflation which has now come down, JSW Group Chairman Sajjan Jindal said on Monday. He made the remarks reacting to the government's action of removing the export duty on steel items. "Duty was brought in because there was huge pressure on inflation and government wanted to cool down the inflation and the industry supported the government in the efforts," he told PTI on the sidelines of the 3rd Indian Steel Association (ISA) Conclave event here. Inflation has come down and the steel prices have also corrected in the domestic as well as global market, Jindal said without sharing any details. At that time, the government felt duty is important. It has been removed now and industry welcomes the move. The industry will continue to make steel for domestic needs as well as for world market, he added. The government has cut the export duty on steel products and iron ore to nil with effect from November 19, 2022 -- six months afte

Aftermath of Russia-Ukraine war dims the sheen on steel industry

But strong domestic demand and cooling raw material prices encourage manufacturers to stay the course on capex plans

JSW Steel eyes 50 MT capacity by 2030 via greenfield, brownfield options

Jindal's growth plans are in sync with the country's target of doubling crude steel capacity to 300 mt of crude steel capacity in the next 9-10 years

Modi says India best for investments; JSW, Adani commit Rs 1 trn in K'taka

JSW, Adani commit to spend over Rs 1 trn each in Karnataka over 5-7 years

JSW group to invest Rs 1 trn in Karnataka in five years, say Sajjan Jindal

This is in addition to the Rs 1 trillion already invested in the state, and would be in steel, green energy, cement, paints and a new greenfield port

JSW Group plans to invest Rs one trillion in Karnataka in five years

The JSW Group plans to invest Rs one lakh crore in Karnataka over the next five years, its Chairman Sajjan Jindal said on Wednesday. In his address to the inaugural function of ''Invest Karnataka 2022", the State's Global Investors' Meet (GIM) here, he also requested the state government to consider mineral auctions. Jindal said the Group has so far invested over Rs one lakh crore in Karnataka. "And over the next five years, we have plans to invest additional Rs one lakh crore in Karnataka". The investment would head into expansion of its steel plant, and renewable energy and port infrastructure development space. The Group's Ballari steel plant in Karnataka has grown to be the biggest in India and would soon become the biggest steel plant in the world, Jindal noted. Urging the state government to consider mineral auctions, he said the move would further encourage investment in the manufacturing sector and support Karnataka's growth trajectory. In this context, he praised the Odi

JSW Energy likely to close Rs 10,530-cr Mytrah acquisition by December-end

The deal, announced in August, is JSW Energy's largest till date; will take the firm's operational generation capacity to 6.5 Gw from 4.8 Gw now, and accelerate its plans to achieve 10 Gw by FY25

JSW Energy Q2 net up 37% to Rs 466 cr; Parth Jindal joins board

Revenue up 16% YoY to Rs 2,596 cr; finance cost rises by 7% due to additional borrowings for ongoing capex

JSW Group to foray into lending with Rs 400 cr investment in captive NBFC

The Sajjan Jindal-led JSW Group is foraying into the lending space with an investment of up to Rs 400 crore in a captive non-bank lender housed in its e-commerce arm, a senior official has said. The non-bank finance company (NBFC) will be a subsidiary of the JSW One Platforms (JSWOP) and will be doing purchase finance for buyers on the newly started e-commerce arm, Gaurav Sachdeva, the chief executive of JSWOP, told PTI in a recent interaction. Eventually, the NBFC can help out other companies in group like cements, steel or paints by offering financing solutions, Sachdeva, who has worked in the financial services space earlier, said. Sachdeva said at present, the micro, small and medium enterprises which form JSWOP's clientele are not served by the banking sector as well as they should be, and hence, the USD 22 billion JSW Group felt a need to enter the space. He said JSWOP will invest around Rs 350-400 crore in the NBFC over the next two years, and the same is a part of an overa

JSW Steel logs Rs 848 crore loss in Sept quarter as steel prices fall

Led by an increase in volumes, the firm saw net sales increase by 28.9 per cent at Rs 41,122 crore

JSW Steel signs agreement with German group for carbon reduction projects

'New transformative approach' needed to produce green steel, says JSW Steel leader Sajjan Jindal