Page 4 - Jsw Steel

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

JSW's crude steel production jumps 31% to 1.78 mn tonnes in May 2022

JSW Steel crude steel production in May on a standalone basis jumped 31 per cent to 1.78 mn tonnes, the company said on Wednesday

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 to sustain Europe shipments without passing on cost of export tax

JSW Steel Ltd, will continue to supply products to its buyers in Europe without passing on any increase in costs despite New Delhi's decision to impose an export tax, a senior company official said

JSW Steel dips 4% in a firm market on disappointing Q4 results

The company's consolidated profit after tax (PAT) declined 20 per cent year on year (YoY) to Rs 3,343 crore in March quarter on higher raw material cost

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

We feel export duty is a temporary measure to contain inflation: JSW's Rao

Companies are creating capacities with two major objectives - to meet India's requirements and also to meet global demand, says Rao

JSW Steel Q4 net profit down 20%; announces JISPL merger with itself

Revenue up 74 per cent YoY to Rs 46,895 crore as company says its opportunities for exports are expanding.

JSW Steel Q4 net profit shrinks 20% to Rs 3,343 cr due to higher expenses

JSW Steel on Friday reported a 20 per cent decline in its consolidated net profit to Rs 3,343 crore for the March 2022 quarter, dragged by higher expenses.

Indian iron ore and steel stocks slump, autos rise after export tax hikes

The Nifty metals index fell as much as 8.9% on Monday, the fastest rate of decline since March 2020, while the Nifty auto index rose 2.9%

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.

Export levy likely to push steel companies to review expansion plans

Major private sector steel producers said that the capacity expansion plans were based on assumptions in the sales mix - between domestic and export markets - which has now gone haywire

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 to set up Rs 150 crore steel plant in south Kashmir's Pulwama

While JSW steel limited is all set to come up with its Rs 150 crore project in south Kashmir's Pulwama district, Apollo Hospitals will set up its medicare facility in Jammu district

Here's why Mehul Kothari recommends buying JSW Steel, Genus Power

According to the technical analyst from Anand Rathi, Genus Power has confirmed a multi-year breakout above the Rs 95 mark, and seems poised to rally towards Rs 140 in the next few months.

Bureaucracy is bogging down bankruptcy deal, says CJI N V Ramana

The top court gave another week to the government's lawyer to sort out the differences between the Enforcement Directorate and corporate affairs ministry.

Stocks to Watch: TCS, Wipro, JSW Steel, UltraTech Cement, Kesoram,Telecom

Anand Rathi Wealth, GM Breweries, Hathway Cable & Datacom, Tinplate Company of India, Evexia Lifecare, and Gayatri Bioorganics will announce their quarterly numbers.

JSW Utkal Steel gets green nod for 13.2 mt new steel plant in Odisha

The firm said capex for the integrated steel plant is likely to be about Rs 65,000 cr including associated facilities

JSW Steel combined crude steel output grows 37%; FY22 production soars 38%

JSW Steel on Friday posted a combined crude steel production of 5.98 million tonne (MT) for the quarter ended March 31, 2022.

Stocks to Watch: Adani Group, JSW Steel, JSPL, IndiGo, SpiceJet, Textiles

Steel stocks are likely to be in limelight following reports of price hike in April.