Jindal Stainless Ltd News

Crisil Ratings upgrades outlook on Jindal Stainless to 'positive'

Jindal Stainless Ltd (JSL) on Thursday said Crisil Ratings has revised its outlook on the stainless steelmaker's long-term bank facilities and debt programme to 'AA' with a positive outlook. The rating agency has revised its outlook in view of the company's improved business risk profile, an expected uptick in scale and forward integration with capacity expansion and acquisitions, JSL said in a statement. "JSL has earned an outlook upgrade of Positive from Stable from the CRISIL Ratings on the long-term bank facilities and debt programme, and a reaffirmed rating at CRISIL AA-. Meanwhile, the rating on the short-term bank facilities has been reaffirmed at CRISIL A1+," it said. Some of the parameters that CRISIL Ratings took note of in order to elevate the outlook include the completion of the merger process of Jindal Stainless Hisar Limited (JSHL) with the company, the healthy financial risk profile of the company led by strong liquidity, its strategic acquisitions, an agile business

Jindal Stainless sees domestic demand; China imports a challenge: Firm's MD

India only country open for China to dump steel imports, says Abhyuday Jindal

Jindal Stainless to invest Rs 1,200 cr in nickel pig iron JV in Indonesia

JSL says it is the first strategic partnership by an Indian company for securing a stake in a nickel reserve abroad

Hybrid energy project likely to start by 2024, says Jindal Stainless MD

The 300 MW hybrid project in partnership with ReNew is expected to commence operation in the next 18 months, Jindal Stainless Managing Director Abhyuday Jindal has said. In December 2022, Jindal Stainless Ltd (JSL) partnered with ReNew to develop the proposed 300 MW hybrid energy project. When asked about the timeline of the project, Jindal told PTI, "We (JSL and ReNew) are on track on the pact. That project is 300 MW. Land acquisition has already been completed for the project". The project will start in the next one and a half years' time, he said. On the company's hydrogen project, the MD said it is expected to start in July this year. In August 2022, the country's largest stainless steel player partnered with Hygenco India Private Limited to set up a green hydrogen plant. "These green initiatives are part of our mission to switch from a thermal energy-intensive manufacturing setup to renewable energy alternatives," he said. The company will continue to take proactive steps t

JSL, JSHL hit new highs ahead of merger; zoom over 100% in 6 months

Jindal Stainless (Hissar) has fixed Thursday, March 9, 2023, as the record date for its merger with Jindal Stainless with a swap ratio of 1: 1.95

Jindal Stainless to invest Rs 120 cr to set up two rooftop solar projects

Jindal Stainless Ltd (JSL) on Tuesday said it will invest Rs 120 crore to set up rooftop solar capacities at its Jajpur and Hisar facilities. While a project of 21 megawatt peak (MWp) will be set up in Jajpur, another 6 MWp rooftop solar capacity will be installed at company's unit in Hisar, JSL said in a statement. "The two rooftop solar plants will be generating about 795 million units of electricity, with a carbon abatement potential of 5,64,450 tonnes in a span of 25 years," it said. Both the projects are scheduled to be completed by March 2024, the company said, adding that the energy generated will be for captive usage. JSL managing director Abhyuday Jindal said: "This is an important step towards achieving our net zero target. Our commitment is responsible business practices and dedication to reducing carbon footprint. We will continue this practice." The company's Hisar unit has already commissioned rooftop solar projects of 4.1 MWp, which is capable of generating 110.7 ..

Jindal Stainless (Hisar) fixes record date for merger with JSL; stock up 3%

JSHL Board approved merger of the company into Jindal Stainless with a swap ratio of 1: 1.95

Siemens, JSL: 9 stocks in Nifty 500 top new highs despite sluggish mood

On Wednesday, shares of Cera Sanitaryware, Jindal Stainless, Siemens, and Triveni Turbine recorded new all-time highs, despite weak market

The stock of this iron & steel company has doubled in three months

Jindal Stainless hit a new high of Rs 263, rallied 7% in intra-day trade today and has surged 23% in past one month.

Jindal Stainless surges 16% in two days after Quant MF buys 2.6 mn shares

On December 6, Quant Mutual Fund - Small Cap Fund purchased 2.63 million shares representing 0.52 per cent of the total equity of Jindal Stainless at Rs 182.97 apiece on the NSE.

After up to 44% rally, charts hint more upside in these mid, smallcap stks

Among individual stocks, Union Bank of India has soared 44% so far in November. Bank of India, Amara Raja Batteries, Redington and Jindal Stainless have also logged strong gains.

Steel stocks firm after export duty removal: GPIL, SAIL climb up to 19%

According to analysts at ICICI Securities, the removal of export duty augurs well for domestic steel players over a longer term horizon