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JSPL accepts Rs 7,401-cr revised offer for Jindal Power from Worldone

JSPL on Saturday said its board has accepted the revised offer of Rs 7,401 crore from Worldone Private Limited for divestment of its subsidiary company Jindal Power Ltd. On July 25, JSPL had announced receiving the Rs 7,401-crore revised offer from Worldone Private Limited to acquire 96.42 per cent stake in Jindal Power Ltd (JPL). In a statement, Jindal Steel & Power Limited (JSPL) said its "Board has accepted the revised binding offer from Worldone Private Limited to divest its 96.42 per cent stake in JPL". The company informed that out of Rs 7,401 crore, Rs 3,015 crore will be paid in cash, while the balance Rs 4,386 crore will be settled by "way of assumption and takeover of liabilities and obligations of JSPL in relation to inter-corporate deposits and the capital advances extended by JPL to JSPL". The divestment is in line with JSPL's strategic objective to continuously reduce its debt and carbon emissions and focus on steel business. The company further said it had also ...

JSPL gets revised Rs 7,401-cr offer from Worldone for group's power unit

In April, JSPL divested 96.42 in JPL to Worldone for Rs 3,015 crore

JSPL receives revised Rs 7,401-cr offer from Worldone Pvt for Jindal Power

JSPL on Sunday announced it has received a revised offer of Rs 7,401 crore from Worldone Private Limited for divestment of its subsidiary company Jindal Power Limiter (JPL).

India can fulfil 50% coking coal requirement from Russia: JSPL MD

India can fulfil its 50 per cent requirement of coking coal from imports from Russia, a top industry executive has said. On Wednesday, the Union Cabinet chaired by Prime Minister Narendra Modi approved a pact between India and Russia regarding cooperation on coking coal. At present, for sourcing of the key steel making raw material, domestic players remain dependent on imports from a select group of countries. V R Sharma, Managing Director of Jindal Steel and Power Ltd (JSPL), said "the government has taken a farsighted decision to encourage Russian miners to supply coking coal to Indian steel mills. India can import at least 50 per cent coking coal from Russia and balance from other countries." "This will make the cost effective blend of coking coal for making metallurgical coke." Around 85 per cent of India's coking coal demand is met through imports. The cooperation with Russia will help India reduce its dependence on far-located countries like Australia, South Africa, Canada a

JSPL announces over Rs 1 trillion investment in Odisha in next 10 years

Jindal Steel and Power Limited will invest over Rs 1 trillion in Odisha to create employment opportunities in the state, its Chairman Naveen Jindal has said

JSPL steel production jumps 31% to 13.7 lakh tonnes during April and May

Jindal Steel and Power Ltd (JSPL) has reported 31 per cent year-on-year jump in its steel production to 13.71 lakh tonnes during April and May

Metals halt losing run; BSE Metal index gains 2%, JSPL, Tata Steel up 5%

The uptick in metal prices augurs well for domestic metal companies as it would have a positive rub-off on their financial performance, going forward

JSPL supplies 1,100 MT of liquid oxygen to Andhra Pradesh, Telangana

Jindal Steel and Power Ltd has supplied more than 1,100 tonnes of liquid medical oxygen to Andhra Pradesh and Telangana as the country battles against second wave of Covid-19, the company said

JSPL PAT jumps manifold to over Rs 1,900 crore in Jan-Mar quarter

Jindal Steel and Power Ltd (JSPL) reported manifold jump in its consolidated profit after tax (PAT) to Rs 1,900.51 crore during the fourth quarter ended March 2021, mainly on account of higher income

Govt may bring in reverse auction system for supplying rails to Railways

The government is likely to launch a 'reverse auction process' to supply rails for railway projects, JSPL Managing Director V R Sharma said

Promoter company Worldone to acquire JSPL's thermal power business

Industry sources said the estimated deal size is close to Rs 12,000 crore, which includes Rs 6,500 crore debt, Rs 7,000 crore redeemable preference shares and Rs 3,015 crore equity infusion

JSPL board okays divestment in Jindal Power to Worldone for Rs 30.15 bn

Jindal Power and Steel (JSPL) on Tuesday said its board has approved divesting its entire equity interest in Jindal Power to Worldone, a promoter group company, for Rs 30.15 billion

Steel prices may take 2 yrs to cool down as demand increases: JSPL MD

Steel prices might take at least two years to cool down as its demand is consistently increasing, a top industry executive said

Covid-19 pushed steel exports to record high in FY21: SteelMint data

Finished steel exports in FY21 stood at 11.65 mn tonnes and semi-finished at 7.25 mn tonnes, up 31% and 153%, respectively, over previous year

JSPL sees34% rise in output; sales jump 37% in January-March FY21

Steel producer JSPL on Monday reported a 34.41 per cent rise in its output, and the sales grew 37.41 per cent during the quarter ended March 31.

From JSW to SAIL, major steel companies' stocks show strong upside

Brokerages bullish on improving cycle and higher prices

Stocks to watch: MTAR Tech, SBI Card, Vodafone Idea, Titan, JSPL, NMDC

SBI Cards and Payment Services on Friday said it has received the board's nod to raise up to Rs 2,000 crore by issuing bonds

Stocks to watch: Antony Waste, M&M, JSPL, Infibeam Avenues, IDBI Bank

The shares of auto companies will remain in focus today after a host of companies are scheduled to release auto sales figures for December 2020

Stocks to watch: JSPL, Jindal Stainless, HDFC Bank, IIFL Securities

JSPL said it has received the 'regular rail supplier' status from the Indian Railways

Steel prices race past peak levels of 2018, spreads at 3-year high

The market price for hot rolled coil (HRC) - a benchmark for flat steel - now stands at around Rs 47,500