Page 2 - Jsw Group

JSW Steel's 2 Indian subsidiaries expected to return to profit in Q3 FY23

Global macroeconomic challenges to shape turnaround of JSW Steel and Bhushan Power & Steel

JSW Group to foray into lending with Rs 400 cr investment in captive NBFC

The Sajjan Jindal-led JSW Group is foraying into the lending space with an investment of up to Rs 400 crore in a captive non-bank lender housed in its e-commerce arm, a senior official has said. The non-bank finance company (NBFC) will be a subsidiary of the JSW One Platforms (JSWOP) and will be doing purchase finance for buyers on the newly started e-commerce arm, Gaurav Sachdeva, the chief executive of JSWOP, told PTI in a recent interaction. Eventually, the NBFC can help out other companies in group like cements, steel or paints by offering financing solutions, Sachdeva, who has worked in the financial services space earlier, said. Sachdeva said at present, the micro, small and medium enterprises which form JSWOP's clientele are not served by the banking sector as well as they should be, and hence, the USD 22 billion JSW Group felt a need to enter the space. He said JSWOP will invest around Rs 350-400 crore in the NBFC over the next two years, and the same is a part of an overa

JSW Steel logs Rs 848 crore loss in Sept quarter as steel prices fall

Led by an increase in volumes, the firm saw net sales increase by 28.9 per cent at Rs 41,122 crore

JSW Cement to invest over Rs 3,200 crore in new plants in MP and UP

The combined cement capacity of these units will be 5 million tonnes per annum

UltraTech, JSW in race to acquire India Cements' project in Madhya Pradesh

India Cements had indicated in its FY22 annual report that it had acquired 184.53 hectares of limestone-bearing land at Pawai Tehsil in Panna District of Madhya Pradesh.

Green energy majors to invest nearly Rs 19,000 crore in Uttar Pradesh

According to a senior govt official, the state is aligning with the overarching target of the Centre to achieve a 450 gigawatt (Gw) in renewable energy and 500 Gw in non-fossil energy capacity by 2030

JSW Paints likely to contest CCI's order on Asian Paints in NCLAT

This move by JSW Paints comes after CCI disposed off JSW Paints plea which stated that Asian Paints blocked its entry in the decorative paints segment

JSW Steel signs agreement with German group for carbon reduction projects

'New transformative approach' needed to produce green steel, says JSW Steel leader Sajjan Jindal

Stocks to Watch: NDTV, Dr.Reddy's, IndiGo, SBI, Zee, Consumer Firms

Stocks to Watch Today: NDTV open offer to start from October 17. IndiGo's co-promoter Rakesh Gangwal likely to sell up to 2.8 per cent stake in open market.

JSW sets ambitious goals for e-commerce business, eyes $20-bn GMV by FY32

Of the targeted $20 billion GMV by FY32, JSW products is expected to account for 65 per cent, the balance would be non-JSW

IIT Bombay, JSW Group sign partnership for steel technology hub

The JSW Technology Hub will also be the nodal point for JSW Group's research activities beyond the steel domain

Cost spike weighs on JSW Steel as profits slump 86% in first quarter

Firm scales down capex plans

JSW Energy net profit surges 179% to Rs 560 crore in June quarter

JSW Energy on Thursday said its net profit jumped 179 per cent to Rs 560 crore in the June quarter, mainly on the back of higher revenues. "Profit After Tax (PAT) stood at Rs 560 crore, which was 179 per cent higher YoY (year on year) compared to a PAT of Rs 201 crore in the corresponding period of previous year (April-June 2021)," a company statement said. During the quarter, total revenue increased by 68 per cent YoY to Rs 3,115 crore from Rs 1,860 crore in first quarter of FY22. The increase is primarily attributable to higher contribution from short-term sales, solar capacity addition at Vijayanagar and 45MW uprating at Karcham Wangtoo, it stated. Underlying finance cost during the quarter decreased by 2.5 per cent YoY to Rs 193 crore on the back of 18 bps (basis points) reduction in the weighted average cost of debt partially offset by increase in gross debt, it explained. The consolidated net worth and consolidated net debt as on June 30, 2022 were Rs 16,638 crore and Rs 7,7

JSW Steel undertakes initiatives to reduce carbon footprint: Chairman

JSW Steel is undertaking various initiatives to reduce carbon footprint in line with India's net zero ambitions, its Chairman Sajjan Jindal said on Wednesday. According to the industrialist, his company has already earmarked a sum of Rs 10,000 crore to increase the use of renewable energy to replace thermal power and other green initiatives. "We are undertaking a host of initiatives to reduce our carbon footprint, aligned with India's net zero ambitions and are envisaging an investment of Rs 10,000 crore towards this. One such initiative is to increase the use of renewable power in our operations," Jindal said, addressing the shareholders at the company's 28th Annual General Meeting (AGM). JSW Steel contracted for 1 gigawatt (GW) of renewable energy, of which 225 MW has become operational in April 2022, and the balance will come on stream in phases, he noted. On Monday, the company announced it has partnered with US-based Boston Consulting Group (BCG) to develop strategies to meet

Stocks to watch: TCS, Tata Motors, Mahindra Holidays, D-Mart, Adani Group

Stocks to watch today: IT behemoth TCS net profit grew 5.2 per cent year-on-year (YoY) to Rs 9,478 crore in Q1FY23; Tata Motors hiked prices across passenger vehicle range by 0.55 per cent.

Moody's upgrades JSW Steel's corporate family rating to Ba1 from Ba2

Moody's Investors Service on Monday said it has upgraded the JSW Steel Ltd's Corporate Family Rating (CFR) to Ba1 from Ba2. At the same time, Moody's has changed the ratings outlook on JSW Steel Ltd and Periama Holdings LLC to 'stable' from 'positive'. "The upgrade reflects JSW's continued strong operating performance and consistently strong credit metrics while maintaining good liquidity," Kaustubh Chaubal, a Moody's senior vice president said. Ba1 rating means obligations are judged to have speculative elements and are subject to substantial credit risk. Moody's has also upgraded to Ba1 from Ba2 JSW's senior unsecured notes rating, the guaranteed backed senior unsecured rating on Periama Holdings LLC and the USD 40-million guaranteed senior unsecured revenue bonds issued by Jefferson County Port Authority. In Moody's view, JSW's substantially stronger operating performance will help sustain its deleveraging. The upgrade also reflects the successful commissioning of the company

Rail orders critical for survival of JSW Steel's Italian biz: Company exec

The fate of JSW Steel's businesses in Italy largely depends on contracts from Italian railway authorities, failing which it will look at other alternatives, a top official said. JSW Steel has so far failed to revive the company it acquired in 2018, and rising raw material cost and geo-political issues, including the Russia-Ukraine crisis, has not helped matters either. The losses have reduced. The loss is majorly attributed to rail orders that are not sustainable. We are striving for more rail orders. If those come, it's fine, otherwise some alternatives have to be thought of, JSW Steel Joint MD & Group CFO Seshagiri Rao told PTI. Revenue of the Italian facility in Piombino improved to euro 309 million during 2021-22 from euro 249 million earlier, while the operating loss narrowed to euro 6.4 million in the fiscal under review from euro 22.6 million a year ago. JSW Italy has in the past won rail orders to the tune of around 40,000 metric tonnes from two contracts by Rete ...

JSW Steel earmarks Rs 20,000 cr capex, hopes export duty to be short-lived

JSW Steel has earmarked Rs 20,000 crore capital expenditure in the current fiscal and hoped that headwinds such as export duty on steel and high coal prices are likely to be short-lived

JSW Steel increases quantum of pulverised coal purchased from Russia

JSW Steel has increased the quantum of pulverised coal being purchased from Russia to 10-15 per cent of its requirements in recent times, the company's Deputy Managing Director Vinod Nowal said

JSW starts exclusive talks to buy renewables company Mytrah Energy

Mytrah has built over 1,800 MW of assets spread across 17 wind farms and 21 solar farms in several states