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JSPL, NTPC, Vedanta among 59 firms that submitted bids for 36 coal blocks

The government on Tuesday said that 59 companies, including JSPL, NTPC and Vedanta, have submitted bids for 36 coal blocks that were put up for sale under the commercial mines auction. A total of 96 bids were submitted for the coal blocks. "A total of 96 bids were received under two tranches of commercial coal mine auctions," the coal ministry said in a statement. This is the highest ever bids received since the launch of commercial coal mines auction in the year 2020, the ministry said, adding, a "total of six public sector companies had submitted the bids in the ongoing round of commercial coal mines' auction as well". "Under sixth tranche of auctions, a total of 86 bids both online and offline were received against 32 coal mines and three bids were received only offline but not online, and two or more bids have been received for 25 coal mines i.e. 79 bids (both online and offline) against 25 coal mines, and 7 coal mines have received single bids (both online and offline)," the

Jindal Steel Q3 results: Net profit drops 68% as export tax bites

The contribution of Jindal Steel's exports to its sales on a standalone basis fell to 5% in the quarter from 23% a year ago

JSPL to invest Rs 1,500 crore to make Monnet Power project operational: MD

Jindal Steel and Power Limited (JSPL) will invest up to Rs 1,500 crore to make recently-acquired Monnet Power operational, its Managing Director Bimlendra Jha said. The investment will be made over the period of the next 12 to 18 months, he said. In December 2022, the steelmaker acquired debt-laden Monnet Power for Rs 410 crore through the insolvency route. The 1,050 megawatts (MW) under-construction coal-based power project is located near JSPL's steel plant in Angul, Odisha. "We will invest fresh investment of up to Rs 1,500 crore to make the plant operational. The amount will be invested over the period of the next 12-18 months," Jha told PTI. Once completed, the new asset will provide power to JSPL's steel plant in Angul, which is in expansion mode, he said. The coal for Monnet Power will be sourced from the Uktal B1 and B2 mines of JSPL. Last year, JSPL won the two coal blocks with approximately 347 million tonnes of reserves near Angul in an e-auction process. Part of OP

JSPL to invest Rs 7,930 crore under PLI scheme for steel: MD Bimlendra Jha

Jindal Steel and Power Limited (JSPL) will spend Rs 7,930 crore under the PLI scheme for specialty steel to manufacture eight types of high-end alloy in the country, its Managing Director Bimlendra Jha said. JSPL is one of the qualifiers of the government's production linked incentive (PLI) scheme which aims to increase the output of value-added steel using new age technologies in the domestic steel sector. On December 9, the government announced the selection of 67 entries with an investment potential of Rs 42,500 crore under the scheme. The proposed investments are expected to generate 70,000 job opportunities and add 26 million tonnes of speciality steel capacity in the country. When asked about the share of JSPL in the said investment amount, Jha replied, "Our commitment to the PLI scheme (for specialty steel) will be around Rs 7,930 crore." JSPL through subsidiary company Jindal Steel Odisha has submitted the highest number of entries to manufacture eight types of specialty st

JSPL sees 'very good reason' to consider RINL, NMDC: MD Bimlendra Jha

State-owned companies marked out for divestment are attractive assets, he says in interview

JSPL acquires Monnet Power for Rs 410 cr through insolvency process

Monnet Power has a 1050 MW under-construction plant in Odisha's Angul

Sensex snaps 3-day losing streak, rises 274 pts; Paytm slumps 11%, PSBs up

CLOSING BELL: Shares of Paytm hit an intra-day low of Rs 474 apiece, and ended at Rs 475.

Jindal Steel & Power wins bid to build Botswana's 300-MW coal power plant

GABORONE (Reuters) - Botswana has picked India's Jindal Steel & Power Ltd as the preferred bidder in a tender to build a 300 megawatt (MW) coal-fired power plant, a notice from its energy ministry showed on Monday.

Stocks to watch: Adani Green, Tata Motors, M&M, Zomato, JSPL, Bharat Forge

Stocks to watch today: Adani Green, Zomato, Eicher Motors will report the July-September (Q2FY23) results on Thursday, November 10; Bharat Forge's subsidiary bagged export order worth $155.5 million

Govt receives 75 applications under PLI scheme for specialty steel

The government has received around 75 applications from domestic players under the PLI Scheme for specialty steel, according to an official. Applicants include all major steel players like Tata Steel, JSW Steel, JSPL, AMNS India and SAIL, a senior steel ministry official said. "A significant number of applications have been received. There around 75 applications," the official said. However, no proposal has been received from any foreign entity, according to the official. After shortlisting the proposals, the government will come out with a final list which would take around 35-40 days, the official said. The government had set the final deadline on September 15 after several extensions for receiving proposals from manufacturers for benefits under the PLI (Production-Linked Incentive) scheme for speciality steel. The Union Cabinet in July last year approved a Rs 6,322-crore PLI scheme to boost the production of speciality steel in India. The move is expected to attract an additi

Near-term margin pressures for JSPL on likely tapering of steel prices

Captive coal availability and zero-debt target by the end of the year are positives

JSPL net profit at Rs 2,771 crore in June quarter on higher income

During the quarter under review, its total income rose to Rs 13,069.17 crore from Rs 10,643.17 crore a year ago

Muted near-term iron prices likely to keep NMDC stock under pressure

Other triggers such as demerger/listing of steel plant unlikely this year

Steel prices likely to go up again from July 1 on high input cost: JSPL MD

"The prices have already bottomed out. There is no chance of reducing them further. There will be an upward price correction from Friday, July 1 mainly on account of higher input cost," he said

JSPL may produce rail wheelsets; to set up manufacturing unit in Raigarh

The plant will have an initial capacity of producing 25,000 wheelsets per year

From JSPL to Tata Steel, steel stocks melt down on export duty levy

Given lower earnings, fair value for steelmakers likely to reduce by 25%

Nifty Metal bleeds 7% after govt hikes export duty on steel products

The government levied export duty on 11 iron and steel intermediates and key steel products.

In struggle to get employees back to office; companies tread cautiously

In some small companies and mid-cap IT services, 20-30 per cent of people are already back in office, especially in areas where heavy engineering and design concepts are required

Steel Minister dedicates to nation JSPL's 1.4 MT rebar mill at Angul plant

The ultra-modern rebar mill of 1.4 MTPA (million tonne per annum) capacity is located at JSPL's 6 MTPA plant in Angul, Odisha

Enforcement Directorate raids JSPL premises for 'forex rule violation'

More places to be covered, searches may continue for a day or two: Officials