Page 2 - Jindal Steel

JSW Ispat Special Products posts Rs 28 crore net loss in Dec quarter

It had reported a net profit of Rs 29.49 crore in the year-ago quarter

Rail rake shortage hurts steel delivery of Odisha, Karnataka steel mills

Industry officials said inventory build-up at various plant locations is also an issue

JSW announces R&R compensation package for its Rs 55,000-cr Paradip project

Leading Indian steelmaker JSW has declared a special rehabilitation and resettlement (R&R) compensation package for the would be affected people before going ahead with its plans to set up a Rs 55,000 crore steel plant in Odisha's Jagatsinghpur district. The R&R compensation package for the project affected people with ration card in the land losing villages of Nuagaon, Gada Kujang and Dhinkia Gram Panchayat, for its integrated steel plant at Paradip, is announced based on discussions at the district, gram panchayat and village level with extensive participation of villagers, district administration and other stakeholders to elicit public opinion, an official said. The Posco project in the same area was withdrawn earlier due to stiff resistance from the local people during the land acquisition activities. The compensation announced now by the JSW is way above the policy provisions outlined in the Rehabilitation & Resettlement Policy, Odisha, 2006, the official said. JSW ...

JSPL to bid 'aggressively' for debt-laden steel maker NINL next week: MD

December 23 is the scheduled date for bidding for Neelachal Ispat Nigam Ltd (NINL)

JSW Steel plans to levy surcharge on steel products as input cost mounts

To offset the rising input cost, the domestic steel giant JSW Steel is planning to levy a surcharge

Jindal Steel and Power prepays $106 million debt for Australian arm

JSPL has made a pre-payment of USD 106 million (about Rs 777.4 crore) to the lenders of its arm Jindal Steel & Power (Australia) Ltd. Without sharing further details, the steelmaker said the prepayment has helped the company reduce the "Australian debt" by approximately 50 per cent. In a statement on Wednesday, Jindal Steel and Power Limited (JSPL) said through its step down subsidiary, Jindal Steel & Power (Australia) Ltd it has made a pre-payment of 105.66 million USD (approximately Rs 777.4 crore). The company is now aiming to clear all its overseas debt in the coming quarters, the statement said. JSPL Managing Director V R Sharma said, "We are paying back to lenders before time in order to strengthen our balance sheet. The company is aligned with the India growth story and we want to become a net debt-free company by FY23 through accelerated deleveraging". Part of O P Jindal Group, JSPL has a presence in steel, power and mining sectors. The company has made investments ...

Jindal Steel plans $2.4-billion spend in six years, double output

The steelmaker plans to raise total crude steel capacity to 15.9 million tons by March 2025 from 8.6 million tons, the New Delhi-based company said in an investor presentation on Tuesday

Andhra govt allots land to OP Jindal's Rs 7,500-crore steel plant

: The Andhra Pradesh government on Thursday issued orders allotting 860 acres of land to Jindal Steel & Power Limited for setting up a 2.25- million tonne per annum integrated steel plant at an investment of Rs 7,500 crore. According to the GO, the proposed plant at Thamminapatnam inSPSR Nellore district, is expected to create employment to 2,500 people directly and 15,000 indirectly. The government, after careful examination of the matter, hereby accord permission to APIIC for allotment of land to an extent of 860 acres at Thamminapatnam and Momidi Village of Chilakur Mandal of SPSR Nellore District to Jindal Steel Andhra Limited, as per the rates fixed by APIIC for establishing an integrated steel plant with a condition that R&R charges, if any, shall be borne by Jindal Steel Andhra Limited as agreed by them, the GO said. The OP Jindal Group has a dominant presence in steel, power, mining and infrastructure sectors with a total steel production of 11.6 MTPA and

Jindal Steel opens capex window amid continued deleveraging plans

To double capacity via internal accruals with eye on debt/EBITDA ratio

Jindal Steel prepays Rs 2,462 cr term loans, pares debt beyond commitment

JSPL has recently announced divestment of its thermal power business to reduce its debt further as well as to cut down on its carbon footprint by almost half

Jindal Steel exits Oman biz via balance 51% stake sale to Vulcan Steel

Jindal Steel owned 48.99% in the Oman unit via Jindal Steel & Power (Mauritius) Ltd. The former had made the deal to exit Oman biz last September

SRF, Jindal Steel: Will the likely inclusion in MSCI index trigger a rally?

Tata Motors DVR, Intellect Design and SKF India are among the stocks that may be added to the MSCI SmallCap index

Mutual funds continue to trim positions in heavyweights in February

Most large MFs remained underweight on banking and overweight on capital goods

Jindal Steel keen to acquire bankrupt Reliance Naval & Engineering

A successful sale of Reliance Naval will help creditors, including IDBI Bank and SBI recoup part of the company's Rs 10,800 crore of debt.

Jindal Stainless chalks out Rs 2,000-3,000 cr capex plan for next 2-3 yrs

Currently, Jindal Stainless' Odisha plant has a capacity of 1.1 million tonnes, while its Hisar plant is a 0.8 million tonne specialised product division

Jindal Steel to enter container making biz to address domestic shortages

The company plans to manufacture containers at a price point lower than the landed cost of imported boxes

Jindal Steel first private firm to get "regular supplier" tag from Railways

With this, Indian Railways, its arms and track-laying contractors can source 60kg 880 grade (90 UTS) Rails made by JSPL for their ongoing and upcoming projects

Selling few iron ore blocks infrequently creates artificial deficit: Jindal

Says people end up paying a huge premium and then the assets become unsustainable

Enough capacity to meet India's rail needs, no need to import, says JSPL

The company says that it along with SAIL is equipped to meet Indian Railways entire rail demand

Jindal Steel, Adani Ports: Two stocks that Anand Rathi is bearish on

The stock price of Adani Ports has formed a triple top formation on the daily chart at around 365 levels