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Jindal Steel
The National Green Tribunal (NGT) has directed Jindal Steel and Power Limited (JSPL) to pay a compensation of Rs 20 lakh each to the heirs of two workers who died due to a blast on its premises in Patralapli village in Chhattisgarh's Raigarh district on June 10, 2020. The tribunal has also directed JSPL to pay a compensation of Rs 5 lakh each to two workers who suffered burn injuries in the incident and observed that the company did not show the "concern" that was expected from a responsible business entity. The NGT had initiated suo-motu proceedings in the matter on the basis of a media report. According to police, the blast had occurred when the workers were cutting an old diesel tank with a gas cutter at a scrap yard. "The heirs of the deceased will be entitled to an amount of Rs 20 lakh each and the injured will be entitled to Rs 5 lakh each, payable by JSPL within a month. In default of payment, the district magistrate may take coercive measures for recovery, including ...
Jindal Stainless Limited (JSL) is taking a host of measures to reduce carbon emissions of its present and planned capacities, which includes setting up renewable energy capacities, Managing Director Abhyuday Jindal said. During FY22, JSL reduced its carbon emissions by 3,100 metric tonnes and initiated a switch from a thermal energy-intensive manufacturing setup to renewable energy alternatives such as solar and wind power, Jindal told PTI during an interaction. "Continuing forward, we are taking proactive steps to decarbonise and reduce carbon emissions of our present and planned capacities. The move is aimed to support the government's mission of carbon-neutrality," he said. In the renewable energy space, JSL is looking for partners to set up 300 MW solar and wind capacities in states like Odisha, Haryana and Rajasthan, Jindal said, adding that the talks with a few players are already underway. The investment will be through joint venture/ventures which will be formed post ...
Metal stocks faced heavy drubbing on Monday, with Jindal Steel & Power cracking over 17 per cent, after the government imposed export duties on steel-making raw materials. Shares of Jindal Steel tumbled 17.40 per cent, JSW Steel tanked 13.20 per cent and Tata Steel plunged 12.53 per cent on the BSE. Also, NMDC declined 12.44 per cent, SAIL (10.96 per cent), Hindalco Industries (3.65 per cent), APL Apollo Tubes (3.42 per cent) and Vedanta (2.77 per cent). The metal index also tanked 8.33 per cent to end at 17,655.22. Tata Steel was the biggest drag in the Sensex pack. "Volatility was hallmark of today's trade. Volatility struck benchmark Nifty as it was aiming to build on to morning gains. Blame it to Nifty metal index which dropped over 8 per cent after government hiked duty on steel products," said Prashanth Tapse, Vice President (Research), Mehta Equities Ltd. The government has waived customs duty on the import of some raw materials, including coking coal and ferronickel, used