Jindal Stainless Steel

NCLAT drops Jindal Stainless plea over Mittal Corp, asks to approach NCLT

Insolvency appellate tribunal NCLAT has dismissed the plea of Jindal Stainless Ltd, one of the bidders for debt-ridden Mittal Corp, challenging the issuance of a fresh Request for Resolution Plan (RFRP) by the lenders. A two-member NCLAT bench observed the lenders of Mittal Corp were "empowered to issue fresh RFRP" when none of the resolution plans had been approved by the committee of creditors (CoC). The lenders have already approved the bids of rival Shyam Sel and Power Ltd (SSPL) and an application has already been moved by the Resolution Professional (RP) before the Mumbai bench of the National Company Law Tribunal (NCLT) seeking its approval. NCLAT said issues raised by Jindal Stainless subsequent to February 10, 2023, when RFRP was issued, need no consideration. The tribunal further added it is open for Jindal Stainless to file an objection over the application filed by the RP before NCLT for approval of SSPL bid. The appellate tribunal said that its previous order of Janua

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

Govt planning PLI 2.0 to boost production of specialty steel: Scindia

The government is planning to introduce the second edition of the PLI scheme for specialty steel to boost production of value-added steel in the country, Union Minister of Steel Jyortiraditya Scindia said on Friday. The minister was speaking at the PLI Scheme for Specialty Steel MoU signing event in the national capital. It was attended by the companies selected to invest under the Rs 6,322-crore scheme. "Today is an important day in the history and future of the steel industry. PLI 1.0 is not a full stop, it is the beginning of the journey. Our ministry is already looking at PLI 2.0," he informed the participants of the first edition of PLI for specialty steel. The minister further asked the industry stakeholders to share their suggestions and feedback so the next PLI Scheme for specialty steel can be prepared at the earliest. As many as 27 steel companies signed 57 memorandum of agreements (MoUs) with the Ministry of Steel at the event to produce coated/plated steel products, hig

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 (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

Jindal Stainless Q3 profit drops 32% to Rs 298.56 cr due to higher expenses

Jindal Stainless on Monday reported 32.4 per cent drop in consolidated profit at Rs 298.56 crore for the quarter ended December, mainly due to higher expenses. The company had posted a consolidated profit of Rs 441.78 crore in the year-ago period, Jindal Stainless said in a filing to BSE. The consolidated revenue from operations of the company in the October-December increased to Rs 6,349.71 crore over Rs 5,670.02 crore in the year-ago period, the filing said. The consolidated total expenses increased to Rs 5,999.69 crore from Rs 5,059.41 crore. Jindal Stainless Managing Director Abhyuday Jindal said, "Agility and adaptability to changing market conditions lies at the core of sales and operations planning at Jindal Stainless. This strategy continued to serve us well in the last quarter and helped us align our sales mix with the domestic demand." "We also undertook focused measures to fulfil our environmental responsibility, including the commitment to power future growth through .

Crucial for India to secure its nickel needs, says Jindal Stainless MD

Firm's MD Abhyuday Jindal says next milestone after completing expansion would be to achieve 100% capacity utilisation, after which it may look at backward integration

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.

NCLAT allows Jindal Stainless to bid for debt-ridden Rathi Super Steel

Appellate tribunal NCLAT has upheld the NCLT order to allow Jindal Stainless to participate in the auction of debt-ridden Rathi Super Steel even after a bidder was selected. The National Company Law Appellate Tribunal (NCLAT) said the NCLT "did not commit any error" as sales were not completed and the object was to obtain the maximisation of the assets, hence it "sees no reason to take a different view". "The Adjudicating Authority (NCLT) did not commit any error in taking note of the offer made by Respondent No 1 (JSL) who made an offer of initial Rs 190 crore and revised offer was Rs 201 crore i.e. much higher than the one on which Appellant was declared successful bidder," the NCLAT said. Jindal Stainless Ltd (JSL) submitted its Rs 190 crore bid for Rathi Super Steel after the liquidator forwarded the application before the National Company Law Tribunal (NCLT), seeking closure of the liquidation process and approval of terms and conditions of sale to Rimjhim Ispat and Synergy ...

Jindal Stainless Q2 results: Profit more than halves; revenue up 11.5%

While input costs fell 3% as raw material prices cooled off from their peak, power and fuel costs surged about 35%

Jindal Stainless to supply 3,500 tonnes steel for USBRL tunnel project

Jindal Stainless will supply 3,500 tonnes stainless steel for the Indian Railway's Udhampur-Srinagar-Baramulla Railway Link (USBRL) tunnel project coming up in Jammu and Kashmir. In a statement, the company said the project is a 272 km-long railway link between Jammu and Kashmir. This will be the first-ever application of stainless steel cable trays in an Indian railway project, the company said. "USBRL will be a milestone in improving the economic landscape of J&K. We congratulate Railways on executing the engineering marvel by overcoming various topographical challenges, and appreciate its decision to choose stainless steel for developing a sustainable railway infrastructure," JSL Managing Director, Jindal Stainless, Abhyuday Jindal, said. According to the statement, company's arm Jindal Stainless Steelway Ltd will supply "EN 1.4404/316L (dual certification) stainless steel grade in 2B finish" for the project owing to its high corrosion resistance, high strength-to-weight ratio,

Shareholders, creditors approve Jindal Stainless Steel-JSHL merger

Having a total melting capacity of 0.8 million tonne per annum (MTPA), the Hisar-based JSHL is the largest specialty stainless steel producer in India with a diversified value-added product portfolio

Jindal Stainless eyes bigger slice of export market

Given the dumping that is happening, the company is working towards increasing its share of exports to 30%-35%

Stocks to Watch: TCS, Bajaj Hind, JSW Steel, Yes Bank, Dish Tv, Airlines

TCS likely to be in limelight ahead of Q3 results, share buyback plan; Airline shares may also be in focus amid slump in demand.

Jindal Stainless second quarter net profit grows 5-fold to Rs 412 cr

Demand from all major end-use segments like process industry, pipe and tube, railways and wagons, and metro rail grew during the quarter

Jindal Stainless reports Rs 271-cr profit for Q1; announces expansion plan

Jindal Stainless Ltd (JSL) returned to black in the April-June quarter, posting a net profit of Rs 271.42 crore on the back of a significant rise in income

Tata Steel arm, Jindal Stainless sign MoU for chrome ore mining in Odisha

Tata Steel Mining Ltd and Jindal Stainless Ltd signed an MoU to jointly unearth chrome ore locked up in the boundary between their mines located at Sukinda in Odisha's Jajpur district

JSHL Q4 net grows over three-folds to Rs 350 crore on increased income

Jindal Stainless Hisar Ltd (JSHL) on Tuesday reported an over three-fold jump in its consolidated net profit at Rs 350.65 crore for the quarter ended March 31, mainly on account of increased income.

JSL posts consolidated net profit of Rs Rs 293 cr in March quarter

Jindal Stainless Ltd (JSL) on Friday reported a consolidated net profit of Rs 292.61 crore for the fourth quarter ended March 2021.