JSW Steel

Rao superannuated from the services of the company and consequently stepped down from the board, the company said

Spot steel prices have been rising both globally and at home since December; a hike of over 12% in the domestic market would have been the basis of negotiations for the upcoming contracts

Steel company shares to be listed on Monday

Andhra Pradesh Chief Minister YS Jagan Mohan Reddy on Wednesday laid the foundation stone for JSW Group's proposed steel plant at Sunnapurallapalle village in YSR Kadapa district. In the first phase, JSW steel will invest Rs 3,300 crore in the proposed plant and one million tonnes of steel per annum will be produced during the first year. The facility will be upgraded to two million tonnes per year in the second phase and will eventually reach three million tonnes capacity per annum. The total investment for all the three phases would be Rs 8800 crore, AP CM noted. Once the steel plant is set up, there will be an ecosystem developed with several ancillary units. Once the ecosystem is created, then the entire area would be transformed into a Steel City, Jagan said after laying the foundation stone. The CM said all necessary infrastructure such as road, power and water supply will be provided at an outlay of Rs 700 crore, to the plant. Jagan expressed hope that the steel plant would

CLOSING BELL: Sensex and Nifty indices snapped their 2-day losing run, ralling on Tuesday as supportive global cues, ease in WPI inflation, and healthy buying in heavyweights lifted sentiment.

Stocks to watch today: Adani Enterprises, ONGC, Coal India, Siemens, Grasim Industries, Eicher Motors, among others will report the October-December (Q3FY23) quarter results

JSW Steel on Monday reported a 15 per cent rise in crude steel production at 18.91 lakh tonnes in January. The company's crude steel production was at 16.46 lakh tonnes (LT) in January 2022, JSW Steel said in a regulatory filing. "JSW Steel reported highest-ever standalone crude steel production for the month of January, 2023 at 18.91 lakh tonnes, a growth of 15 per cent y-o-y on standalone basis," the filing said. The production of its flat-rolled products increased by 14 per cent to 14.24 LT over 12.47 LT in January 2022. Its output of long-rolled products also registered a growth of 14 per cent to 4.25 LT, as against 3.74 LT in January 2022. The overall capacity utilisation was higher at 99 per cent in January 2023 from 96 per cent in December 2022. JSW Steel is the flagship business of the diversified USD 22 billion JSW Group which also has business interests in sectors such as energy, infrastructure, cement, paints, sports and venture capital.

The expansion would take JSW Steel's capacity to around 38 mt

The world economy is not growing in a robust manner so I don't expect a big turnaround in steel demand as seen in 2021, says Rao

His comments come after JSW, India's largest steelmaker by capacity, on Friday reported an 89% fall in profits for the quarter ended Dec. 31, hurt by a 56% slump in exports

Expenses were also higher at Rs 38,288 crore as against Rs 31,986 crore

The company had posted a Rs 27.12 crore net loss in the year-ago period, according to a statement

JSW Steel on Monday said its combined crude steel production rose 17 per cent to 6.24 million tonne (MT) during October-December period of 2022-23. The combined production during the year-ago quarter was at 5.35 MT, JSW Steel said in a statement. "JSW Steel reported its group combined crude steel production at 6.24 million tonne for Q3 FY23 registering a growth of 17 per cent y-o-y (year-on-year), including the production at jointly controlled entities," it said. Its standalone output rose 20 per cent to 6.06 MT in Q3 from 5.05 MT in the year-ago period. According to the company, the combined production includes output of jointly controlled entities Bhushan Power & Steel Ltd (BPSL) and JSW Ispat Special Products Ltd (JISPL), and offshore entity JSW Steel USA Ohio. JSW Steel is among India's top six steel making companies.

The Nifty Metal index seems to be eyeing a new historic peak at 6,900-level; Thus, select stocks from this space could rally up to 15 per cent on their respective breakouts.

Withdrawal of export duty may not increase volumes will boost sentiment, he says

JSW Steel on Friday posted 25 per cent rise in standalone crude steel production at 17.76 lakh tonne (LT) during October 2022. Its crude steel output was at 14.25 LT in October 2021, JSW Steel said in a statement. Production of flat rolled products rose 30 per cent to 13.61 LT from 10.45 LT in the same month last year. Long rolled products' output was at 3.70 LT, up 11 per cent as compared to the year-ago period. The capacity utilisation improved to 93 per cent last month from 89 per cent in September 2022.

JSW Steel aims to produce 25 million tonnes of crude steel this year, up 28% from last year

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

Profits down 91% in Q2, driven by margin contraction because sales realisation did not keep pace with rise in expenses

Stocks to Watch today: Wipro has launched a new financial services consulting capability in India named Capco