Page 3 - Jsw Steel

Dalal Street defies global mood; Sensex soars 443 pts, Nifty top 17,650

CLOSING BELL: ITC, Sun Pharma, RIL, Tata Steel, NTPC, HCL Tech, L&T, and ICICI bank were the top Sensex gainers, while Hindalco, JSW Steel, Grasim, and Cipla were additional top gainers on the Nifty50

Stocks to watch: L&T, Adani Power, Ambuja Cements, LIC, Paytm, JSW Steel

Stocks to watch today: L&T commissioned a new green hydrogen plant at Hazira in Gujarat; Future Enterprises defaults on payments of interest of two non-convertible debentures (NCDs) of Rs 12.6 crore.

CCI clears proposed merger of JSW Ispat, Creixent with JSW Steel

Fair trade regulator Competition Commission of India (CCI) on Thursday approved the proposal to merge Creixent Special Steels and JSW Ispat into JSW Steel. In May, JSW Steel announced the merger deal. JSW Steel and JSW Ispat are into manufacturing and sale of steel products while Creixent Special Steels (CSSL) is in the business of holding investments. In a tweet on Thursday, CCI said it has approved the "amalgamation of Creixent Special Steels and JSW Ispat Special Products with and into JSW Steel". Separately, the watchdog has cleared the proposed acquisition of Varmora Granito Pvt Ltd and other entities by the Carlyle Group entity Katsura Investments. The combination involves Katsura's Investments' acquisition of up to 40 per cent stake in the Varmora Granito Pvt Ltd along with acquisition of certain rights in the company and certain other target entities. The regulator has approved the "acquisition by Katsura Investments in Varmora Granito Pvt Ltd and certain other entities;

JSW Steel crude steel output grows 14 pc to 15.69 LT in Jul

JSW Steel on Tuesday posted 14 per cent year-on-year growth in its crude steel output to 15.69 lakh tonne (LT) in July 2022.

JSW Steel outlays Rs 20,000 crore capex for FY23: CMD Sajjan Jindal

JSW Steel will invest over Rs 48,000 crore in the next three years as part of its capex plan, the company's Chairman and Managing Director (CMD) Sajjan Jindal has said. Out of Rs 48,700, Rs 20,000 crore capex (capital expenditure) is for the 2022-23 financial year, he said. Besides, JSW Steel is also eyeing to amalgamate JSW Ispat Special Products with it by the end of the ongoing fiscal. According to a regulatory filing on Monday, Jindal addressing a shareholder's query said: "The total planned capex for the next three years is Rs 48,700 crore, which includes Rs 20,000 crore planned for this current financial year." The composite scheme of amalgamation between the company and JSW Ispat Special Products Limited (Monnet Ispat) is expected to be completed during this financial year, he said. In August 2018, a joint consortium of AION Investments Private II Ltd (AION) and JSW Steel Limited acquired controlling stake in JSW Ispat Special Products Limited (formerly known as Monnet Ispa

India Inc's green push gets a fillip with amended Energy Conservation Bill

Share of thermal energy for manufacturing companies almost 95%

Tata Steel, Vedanta can surge 14%, provided they defy this chart formation

All metal stocks have "Death Cross", and if the current rally shows sustainability, the pullback rally would see added interest, indicate charts.

Growth capex to stay despite slow demand; JSW hopes for a rebound in Q3

A combination of factors made the operating environment in Q1 challenging

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

Firm scales down capex plans

JSW Steel net profit falls 85% in June quarter as expenses increase

JSW Steel on Friday posted over 85 per cent fall in its consolidated net profit at Rs 839 crore during the June 2022 quarter, mainly on account of higher expenses

Banks lift Sensex 390 pts, Nifty reclaims 16,700; Ultratech Cement up 5%

CLOSING BELL: Ultratech Cement, Grasim, UPL, HDFC, HDFC Bank, Eicher Motors, and ICICI Bank were the top gainers, ralling over 2 per cent each

Bad loan ratio of banks likely to fall to 5-5.5% by March 2024: S&P Global

S&P Global Ratings on Thursday said non-performing loans of banks are expected to decline to 5-5.5 per cent of the total advances by March 2024. As per the latest Financial Stability Report published by the RBI, the gross non-performing assets (GNPA) declined to a six-year low of 5.9 per cent in March 2022. "We project the banking sector's weak loans will decline to 5-5.5 per cent of gross loans by March 31, 2024. Likewise, we forecast the credit costs to stabilise at 1.5 per cent for fiscal 2023 and further normalise to 1.3 per cent, making credit costs comparable to those of other emerging markets and India's 15-year average," the rating agency said in a report. The small and midsize enterprise sector and low-income households are vulnerable to rising interest rates and high inflation, but it expects these risks to be limited, the agency added. With an economic pick-up, residual stress for these segments should start abating, it said, adding that NPL recoveries are likely to ...

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

JSW Steel ropes in BCG to work on decarbonisation goals for 2029-30

JSW Steel on Monday said it has partnered with US-based Boston Consulting Group (BCG) to meet its decarbonization goals

JSW Steel consolidated output rises 16% to 5.88 million tonnes in Apr-Jun

On a quarter-on-quarter (q-o-q) basis, the production was 2 per cent down from 5.98 MT in January-March 2022

Stocks to watch: Tata Steel, HDFC, Jet Airways, JSW Steel, Biocon, PVR

Stocks to watch today: HDFC, slated to merge with HDFC Bank, raised Rs 4,000 crore through a paper with a maturity of 21 months; Jet Airways plans to lease 6 to 8 planes as part of re-launch.

JSW Steel earmarks Rs 10,000 cr for carbon emission reduction initiatives

Group chairman Sajjan Jindal said that the company has contracted for about 1 GW of renewable energy, of which 225 MW became operational in April 2022, and the balance will come on stream in phases.

Vedanta, 30 other companies submit bids in commercial coal mines auctions

The government on Tuesday said 31 companies, including JSW Steel, Vedanta Ltd, NLC India Ltd, Jindal Power and Bharat Aluminium Company Ltd, have submitted bids for 24 mines under commercial coal mines auctions. As many as 38 online and offline bids were submitted during the three rounds of auctions. "A total of 31 companies have submitted their bids (both online and offline) in the auction process," the coal ministry said in a statement. JSW Steel, Vedanta Ltd, NLC India Ltd, Jindal Power and Bharat Aluminium Company Ltd have submitted the bids. Others companies that have submitted the bids include Birla Corporation Ltd, Jaiprakash Power Ventures Ltd, Rungta Metals Private Ltd and Godavari Power & Ispat Ltd. The auction process for 122 coal/lignite mines was launched in March. The last date of submission of technical bids was June 27, 2022, except for 10 mines. Those 10 mines comprise Parbatpur Central coal mine and 9 lignite mines. "As part of the auction process, technical bids

Sensex, Nifty end flat after volatile session; metal, energy stocks shine

CLOSING BELL: M&M, Tech M, Dr Reddy's Labs, Reliance Industries, HCL Tech, and Tata Steel were the top gainers on the 30-pack index

Stocks to watch: Bajaj Auto, TVS Motor, Tata Steel, Cipla, JSW Steel, FRL

Stocks to watch today: Bajaj Auto approved buyback of shares worth up to Rs 2,500 crore; Moody's upgraded Tata Steel's outlook to 'positive' from 'stable'