Jsw Group

Pub sector failed world over, pvt sector can take country forward: Jindal

Business tycoon and chairman of JSW Group Sajjan Jindal on Tuesday said that it is be the private sector, not the public sector, that will take India ahead because "ultimately what matters is accountability and profitability". While pointing out that India is on the path of becoming a USD 10-trillion economy in the next ten years, the country needs to adopt a "modern thought process" which is not driven by socialism or a notion that only the public sector can deliver. He made the remarks at the Indian Institute of Management Ahmedabad (IIM-A) after inaugurating the JSW School of Public Policy's new building, a state-of-the-art multi-facility centre at IIMA's new campus. "...we used to talk about a country becoming a USD 5-trillion economy. But today we are talking about USD 10-trillion, visible in the next seven to ten years. The country is growing at neck-break speed. So we need a real modern thought process, which is not driven by socialism or an idea that only the public sector c

Billionaire Raj: The rise of India's multi-business conglomerates

The experience of South Korea, Japan and Russia has shown that the conglomerate model often comes with political connections, but such comparisons can be overblown, writes T N Ninan

JSW Energy steps up focus on battery storage to address intermittency

Intermittency refers to irregular power supply from renewable sources, since they aren't always available; Projects from SECI first in this segment; will look at more, says company MD Prashant Jain

JSW Steel Q3 net profit falls over 85% to Rs 474 crore on higher expenses

Expenses were also higher at Rs 38,288 crore as against Rs 31,986 crore

JSW Energy Q3 net dips 45% to Rs 180 cr, revenue surges 18% to Rs 2,350 cr

JSW Energy on Friday reported a 45 per cent decline in its consolidated net profit to Rs 180 crore for the December 2022 quarter. "(consolidated) Profit After Tax (PAT or net profit) stood at Rs 180 crore (in the quarter ended on December 31, 2022), which is lower YoY (year-on-year) compared to a PAT of Rs 324 crore in the corresponding period of the previous year," a company statement said. The company stated that during the quarter (October-December 2022), its total revenue increased by 18 per cent to Rs 2,350 crore from Rs 1,984 crore a year ago, due to higher realisation (as higher fuel costs are passed through in nature for LT PPAs (long term power purchase agreements). The EBITDA for the quarter was 18 per cent lower at Rs 727 crore vis-a-vis Rs 882 crore in the corresponding period of the previous year. It explained that the decrease is primarily due to lower short-term sales YoY, partly offset by the contribution from Vijayanagar Solar and higher other income in the ...

Stocks to Watch: TCS, Tata Motors, Maruti, Coal India, JSW Group, RITES

Stocks to watch today: Tata Motors reported 10 per cent YoY increase in domestic December sales at 72,997 units as against 66,307 units sold last year

JSW Group mulls foray into EVs, to manufacture 4-wheelers: Seshagiri Rao

Sajjan Jindal-led conglomerate JSW Group is considering a foray into the manufacturing of electric vehicles, according to a top official of the group. "The group had examined EV manufacturing plans earlier also but now it is becoming attractive," JSW Group Chief Financing Officer Seshagiri Rao told PTI. The manufacturing of EVs is being discussed actively at the group level, he said while divulging JSW Group's plan to expand its presence into more sectors. The group is looking to manufacture four-wheelers, Rao said. When asked about details of the manufacturing location, he said it is yet to be decided. On the timeline for the launch of an EV manufacturing facility, he said, "it (plan) is at advanced stages." JSW Group company JSW Steel owns and operates a one million tonne per annum (MTPA) steel plant at Salem in Tamil Nadu. The company manufactures auto-grade steel at Salem plant and supplies the high-value steel to automobile companies including the EVs makers. Besides, the U

IIFCL has sanctioned Rs 8,244 crore loans to develop 20 ports, says MD

State-owned IIFCL has sanctioned Rs 8,244 crore loans to about 20 projects to help add 836 million tonnes per annum (MTPA) of ports capacity, which is one-fourth of India's total cargo volumes, a top company official said. India's total port capacity is about 2,600 MTPA. Of this, 12 major ports' cargo handling capacity stood at 1,598 MTPA as of March 2022. India Infrastructure Finance Company Ltd (IIFCL) has has been extending its financial support to many strategic port projects, including the Paradip Port, Essar Vizag port, Tuticorin, Krishnapatnam, Karaikal. "The latest is the Ramayapatnam port, which reinforces our belief in this very important sector and the potential it holds to improve connectivity, bring down logistics costs, and provide a boost to the economy," IIFCL Managing Director P R Jaishankar told PTI. With investment in three upcoming ports including Ramyapatnam and Bhavanapadu, he said, the capacity would touch 1,000 MTPA with these ports going on stream in a coup

Dalmia-Jaypee deal: Battle for third spot in cement market intensifies

Shree Cement adding 9 mtpa of capacity in the next 15 months, HM Bangur says; total cement production capacity of company to jump to 56.4 mtpa...

Odisha bags about Rs 8.9-trillion investment intent in two days

Tata Power CEO and MD Praveer Sinha announced a Rs 6,000 crore capital investment by the company in Odisha

Jindal, Adani, Mittal line up more projects and investments in Odisha

The spirit was matched by industrialists - the who's who of India Inc who were present on Thursday, the first day of the investment conclave

JSW to invest Rs 1 trillion in Odisha in various sectors: Sajjan Jindal

The JSW Group is committed to invest Rs 1 trillion in Odisha in various sectors, including for a mega greenfield steel plant project in Paradip, said its Chairman Sajjan Jindal here on Thursday

JSW group's renewable energy unit to raise Rs 3,900 crore term loan

JREVL is developing an 825 Mw hybrid plant (225 Mw solar, 600 Mw wind) at a cost of Rs 5,255 cr; India Rating has assigned an "A+" to the loan

Export duty on steel was imposed to control inflation: JSW chairman

The government had levied export duty on steel to control inflation which has now come down, JSW Group Chairman Sajjan Jindal said on Monday. He made the remarks reacting to the government's action of removing the export duty on steel items. "Duty was brought in because there was huge pressure on inflation and government wanted to cool down the inflation and the industry supported the government in the efforts," he told PTI on the sidelines of the 3rd Indian Steel Association (ISA) Conclave event here. Inflation has come down and the steel prices have also corrected in the domestic as well as global market, Jindal said without sharing any details. At that time, the government felt duty is important. It has been removed now and industry welcomes the move. The industry will continue to make steel for domestic needs as well as for world market, he added. The government has cut the export duty on steel products and iron ore to nil with effect from November 19, 2022 -- six months afte

Aftermath of Russia-Ukraine war dims the sheen on steel industry

But strong domestic demand and cooling raw material prices encourage manufacturers to stay the course on capex plans

Modi says India best for investments; JSW, Adani commit Rs 1 trn in K'taka

JSW, Adani commit to spend over Rs 1 trn each in Karnataka over 5-7 years

JSW group to invest Rs 1 trn in Karnataka in five years, say Sajjan Jindal

This is in addition to the Rs 1 trillion already invested in the state, and would be in steel, green energy, cement, paints and a new greenfield port

JSW Group plans to invest Rs one trillion in Karnataka in five years

The JSW Group plans to invest Rs one lakh crore in Karnataka over the next five years, its Chairman Sajjan Jindal said on Wednesday. In his address to the inaugural function of ''Invest Karnataka 2022", the State's Global Investors' Meet (GIM) here, he also requested the state government to consider mineral auctions. Jindal said the Group has so far invested over Rs one lakh crore in Karnataka. "And over the next five years, we have plans to invest additional Rs one lakh crore in Karnataka". The investment would head into expansion of its steel plant, and renewable energy and port infrastructure development space. The Group's Ballari steel plant in Karnataka has grown to be the biggest in India and would soon become the biggest steel plant in the world, Jindal noted. Urging the state government to consider mineral auctions, he said the move would further encourage investment in the manufacturing sector and support Karnataka's growth trajectory. In this context, he praised the Odi

JSW Energy likely to close Rs 10,530-cr Mytrah acquisition by December-end

The deal, announced in August, is JSW Energy's largest till date; will take the firm's operational generation capacity to 6.5 Gw from 4.8 Gw now, and accelerate its plans to achieve 10 Gw by FY25

JSW Energy Q2 net up 37% to Rs 466 cr; Parth Jindal joins board

Revenue up 16% YoY to Rs 2,596 cr; finance cost rises by 7% due to additional borrowings for ongoing capex