JINDALSTEL
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Indian steelmakers jump after New Delhi imposes import tariffs
Adds details throughout
By Vivek Kumar M
Dec 31 (Reuters) - Shares of major Indian steel companies climbed between 2% and 5% on Wednesday after the country imposed a three-year import tariff on select products to curb cheap shipments from China.
The levy, locally known as a safeguard duty, will be imposed at 12% in the first year followed by 11.5% in the second year and then 11% in the third year.
Tata Steel TISC.NS and JSW Steel JSTL.NS rose 2.4% and 5%, respectively, leading gainers on the benchmark Nifty 50 .NSEI index. Steel Authority of India SAIL.NS and Jindal Steel JINT.NS also added 2.5% and 3.5%.
"Post announcement of the safeguard duty, the domestic steel prices are currently at about 13% to 15% discount to the landed cost of imports from China, providing sufficient headroom for price hikes by domestic manufacturers," said Sunny Agrawal, head of fundamental equity research at SBICAPS Securities.
The move follows the Directorate General of Trade Remedies' findings of a sharp surge in imports causing injury to domestic producers.
Earlier, the government had implemented a temporary 12% duty for 200 days in April . While that shorter duration caused investor uncertainty, the new three-year window provides long-term protection for local players, according to the analyst.
The metal stocks .NIFTYMET hit a record 11,189.8 points on the day, gaining as much as 1.7%. The sectoral gauge has risen in 12 of the previous 14 sessions, supported by firm prices for copper, aluminium and silver.
A rise in commodity prices is driven by expectations of two U.S. Federal Reserve rate cuts in 2026, improved Chinese demand and supply shortages, as per analysts.
The domestic metal index has jumped roughly 29% in 2025, outperforming the Nifty 50's 10% advance.
(Reporting by Vivek Kumar M; Editing by Mrigank Dhaniwala, Janane Venkatraman and Nivedita Bhattacharjee)
(([email protected];))
Adds details throughout
By Vivek Kumar M
Dec 31 (Reuters) - Shares of major Indian steel companies climbed between 2% and 5% on Wednesday after the country imposed a three-year import tariff on select products to curb cheap shipments from China.
The levy, locally known as a safeguard duty, will be imposed at 12% in the first year followed by 11.5% in the second year and then 11% in the third year.
Tata Steel TISC.NS and JSW Steel JSTL.NS rose 2.4% and 5%, respectively, leading gainers on the benchmark Nifty 50 .NSEI index. Steel Authority of India SAIL.NS and Jindal Steel JINT.NS also added 2.5% and 3.5%.
"Post announcement of the safeguard duty, the domestic steel prices are currently at about 13% to 15% discount to the landed cost of imports from China, providing sufficient headroom for price hikes by domestic manufacturers," said Sunny Agrawal, head of fundamental equity research at SBICAPS Securities.
The move follows the Directorate General of Trade Remedies' findings of a sharp surge in imports causing injury to domestic producers.
Earlier, the government had implemented a temporary 12% duty for 200 days in April . While that shorter duration caused investor uncertainty, the new three-year window provides long-term protection for local players, according to the analyst.
The metal stocks .NIFTYMET hit a record 11,189.8 points on the day, gaining as much as 1.7%. The sectoral gauge has risen in 12 of the previous 14 sessions, supported by firm prices for copper, aluminium and silver.
A rise in commodity prices is driven by expectations of two U.S. Federal Reserve rate cuts in 2026, improved Chinese demand and supply shortages, as per analysts.
The domestic metal index has jumped roughly 29% in 2025, outperforming the Nifty 50's 10% advance.
(Reporting by Vivek Kumar M; Editing by Mrigank Dhaniwala, Janane Venkatraman and Nivedita Bhattacharjee)
(([email protected];))
Jindal Steel To Double Structural Steel Capacity At Raigarh To 2.4 MTPA By 2028
Dec 29 (Reuters) - Jindal Steel Ltd JINT.NS:
JINDAL STEEL - TO DOUBLE STRUCTURAL STEEL CAPACITY AT RAIGARH TO 2.4 MTPA
JINDAL STEEL - WILL DOUBLE EXISTING STRUCTURAL STEEL CAPACITY TO 2.4 MTPA BY MID 2028
Source text: [ID:]
Further company coverage: JINT.NS
(([email protected];;))
Dec 29 (Reuters) - Jindal Steel Ltd JINT.NS:
JINDAL STEEL - TO DOUBLE STRUCTURAL STEEL CAPACITY AT RAIGARH TO 2.4 MTPA
JINDAL STEEL - WILL DOUBLE EXISTING STRUCTURAL STEEL CAPACITY TO 2.4 MTPA BY MID 2028
Source text: [ID:]
Further company coverage: JINT.NS
(([email protected];;))
EXCLUSIVE-THYSSENKRUPP'S STEEL UNIT TKSE: WE'RE CLOSING ELECTRICAL STEEL PLANTS IN SECOND HALF OF DECEMBER DUE TO CHEAP ASIAN IMPORTS
By Christoph Steitz and Tom Käckenhoff
FRANKFURT/DUESSELDORF, Dec 11 (Reuters) - Thyssenkrupp's TKAG.DE steel unit said it will temporarily shut down production of electrical steel in Europe, a key material used in wind turbines and power grids, blaming cheap imports from Asia that it warns are putting an additional 1,200 jobs at risk.
The move, previously unreported, highlights the struggles of Europe's steel sector in the face of global trade frictions that have caused Chinese rivals to sell excess capacity on the continent, undercutting them by as much as a quarter, according to industry sources.
Thyssenkrupp Steel Europe (TKSE), Europe's second-largest steelmaker, is already cutting or outsourcing 11,000 jobs in response to the crisis, as talks about a sale to India's Jindal Steel International are entering a critical stage.
A further 1,200 job cuts would lift the total cuts to about 45% of TKSE's workforce from 40%.
TKSE will close its electrical steel plants in Germany and France from mid-December until the end of the year, the company said, adding its Isbergues site in France would be operating at half its capacity from January for at least four months.
"Grain-oriented electrical steel is indispensable for Europe's energy infrastructure and the energy transition," TKSE CEO Marie Jaroni said.
"We are strongly committed to maintaining production in Europe and are currently working to ensure effective market protection in order to guarantee fair competition for this strategically important product."
Imports of grain-oriented electrical steel (GOES), which is currently not covered by EU plans to cut tariff-free steel import quotas by almost half and impose a 50% duty for excess shipments, have tripled over the past three years, according to Eurostat data.
So far in 2025, imports of GOES have increased by around 50%, the data shows, a direct consequence of stiffer U.S. steel tariffs that have diverted supplies to Europe, a trend also seen in other industries.
Along with Poland's Stalprodukt SA STP.WA, TKSE is one of the last remaining European players producing the material, with China's Baowu, South Korea's POSCO 005490.KS and Nippon Steel 5401.T among the biggest exporters to Europe.
(Reporting by Christoph Steitz and Tom Kaeckenhoff;Editing by Elaine Hardcastle)
(([email protected]; +49 30 220 133 647))
By Christoph Steitz and Tom Käckenhoff
FRANKFURT/DUESSELDORF, Dec 11 (Reuters) - Thyssenkrupp's TKAG.DE steel unit said it will temporarily shut down production of electrical steel in Europe, a key material used in wind turbines and power grids, blaming cheap imports from Asia that it warns are putting an additional 1,200 jobs at risk.
The move, previously unreported, highlights the struggles of Europe's steel sector in the face of global trade frictions that have caused Chinese rivals to sell excess capacity on the continent, undercutting them by as much as a quarter, according to industry sources.
Thyssenkrupp Steel Europe (TKSE), Europe's second-largest steelmaker, is already cutting or outsourcing 11,000 jobs in response to the crisis, as talks about a sale to India's Jindal Steel International are entering a critical stage.
A further 1,200 job cuts would lift the total cuts to about 45% of TKSE's workforce from 40%.
TKSE will close its electrical steel plants in Germany and France from mid-December until the end of the year, the company said, adding its Isbergues site in France would be operating at half its capacity from January for at least four months.
"Grain-oriented electrical steel is indispensable for Europe's energy infrastructure and the energy transition," TKSE CEO Marie Jaroni said.
"We are strongly committed to maintaining production in Europe and are currently working to ensure effective market protection in order to guarantee fair competition for this strategically important product."
Imports of grain-oriented electrical steel (GOES), which is currently not covered by EU plans to cut tariff-free steel import quotas by almost half and impose a 50% duty for excess shipments, have tripled over the past three years, according to Eurostat data.
So far in 2025, imports of GOES have increased by around 50%, the data shows, a direct consequence of stiffer U.S. steel tariffs that have diverted supplies to Europe, a trend also seen in other industries.
Along with Poland's Stalprodukt SA STP.WA, TKSE is one of the last remaining European players producing the material, with China's Baowu, South Korea's POSCO 005490.KS and Nippon Steel 5401.T among the biggest exporters to Europe.
(Reporting by Christoph Steitz and Tom Kaeckenhoff;Editing by Elaine Hardcastle)
(([email protected]; +49 30 220 133 647))
Thyssenkrupp CEO: we always have plan B for steel should talks with Jindal falter
ESSEN, Germany, Dec 9 (Reuters) - Thyssenkrupp TKAG.DE has a backup plan for its steel division if talks to sell it to India's Jindal Steel International should collapse, CEO Miguel Lopez told journalists on Tuesday at the group's annual press conference.
"We always have a plan B up our sleeve, which we will communicate when the time comes," Lopez said, adding Jindal Steel was the perfect fit for TKSE and that the assumption was that talks with Jindal will be successful.
(Reporting by Christoph Steitz, Editing by Miranda Murray)
(([email protected]; +49 30 220 133 647;))
ESSEN, Germany, Dec 9 (Reuters) - Thyssenkrupp TKAG.DE has a backup plan for its steel division if talks to sell it to India's Jindal Steel International should collapse, CEO Miguel Lopez told journalists on Tuesday at the group's annual press conference.
"We always have a plan B up our sleeve, which we will communicate when the time comes," Lopez said, adding Jindal Steel was the perfect fit for TKSE and that the assumption was that talks with Jindal will be successful.
(Reporting by Christoph Steitz, Editing by Miranda Murray)
(([email protected]; +49 30 220 133 647;))
Jindal sees subsidies as 'important' in potential takeover of Thyssenkrupp steel unit
Adds context in paragraph 4, Thyssenkrupp comment in paragraph 5
BERLIN, Dec 5 (Reuters) - Jindal Steel International sees government subsidies in Europe as "an important factor" in its strategy for a potential takeover of Thyssenkrupp's steel division (TKSE), the head of its European business was quoted as saying on Friday.
Jindal wants to make the transition to green steel "because we firmly believe that it makes economic sense," Narendra Kumar Misra told German magazine WirtschaftsWoche in an interview.
Thyssenkrupp, which has for years tried to dispose of its steel business, in September received an indicative bid from India's Jindal Steel International for TKSE.
The company is currently carrying out due diligence on TKSE, Germany's largest steelmaker, before deciding whether to make a firm offer.
Thyssenkrupp said in a statement that due diligence was ongoing, referring to Jindal Steel for any further questions around the strategic rationale of a potential takeover.
(Reporting by Tom Kaeckenhoff, Writing by Friederike Heine and Christoph Steitz, Editing by Miranda Murray and Louise Heavens)
(([email protected];))
Adds context in paragraph 4, Thyssenkrupp comment in paragraph 5
BERLIN, Dec 5 (Reuters) - Jindal Steel International sees government subsidies in Europe as "an important factor" in its strategy for a potential takeover of Thyssenkrupp's steel division (TKSE), the head of its European business was quoted as saying on Friday.
Jindal wants to make the transition to green steel "because we firmly believe that it makes economic sense," Narendra Kumar Misra told German magazine WirtschaftsWoche in an interview.
Thyssenkrupp, which has for years tried to dispose of its steel business, in September received an indicative bid from India's Jindal Steel International for TKSE.
The company is currently carrying out due diligence on TKSE, Germany's largest steelmaker, before deciding whether to make a firm offer.
Thyssenkrupp said in a statement that due diligence was ongoing, referring to Jindal Steel for any further questions around the strategic rationale of a potential takeover.
(Reporting by Tom Kaeckenhoff, Writing by Friederike Heine and Christoph Steitz, Editing by Miranda Murray and Louise Heavens)
(([email protected];))
Thyssenkrupp steel head puts restructuring costs at several hundred million euros
BERLIN, Dec 3 (Reuters) - Thyssenkrupp's TKAG.DE steel division head, Marie Jaroni, estimates a restructuring deal that will cut or outsource about 11,000 jobs will cost the company a three-digit million-euro amount, she told the Frankfurter Allgemeine Zeitung newspaper.
Thyssenkrupp Steel Europe (TKSE) said earlier this week that it had agreed with the IG Metall union to cut or outsource 40% of its workforce and reduce production capacity to a shipping level of 8.7 million to 9 million tons, from 11.5 million at present.
"The restructuring is costing us a mid-three-figure million euro sum. The exact amount depends on how many employees accept which offer," Jaroni said in an interview published on Wednesday.
This will pay off, she added, because the company will have permanently lower personnel costs, "a low three-digit million amount less annually than today," she told the newspaper.
Thyssenkrupp, which has for years tried to dispose of its steel business, in September received an indicative bid for from India's Jindal Steel International for TKSE.
Jindal Steel is currently carrying out detailed due diligence to assess whether to launch a formal binding offer for TKSE, Germany's largest steelmaker with sales of 10.7 billion euros ($12.46 billion) last year.
($1 = 0.8587 euros)
(Writing by Miranda Murray
Editing by Madeline Chambers)
(([email protected];))
BERLIN, Dec 3 (Reuters) - Thyssenkrupp's TKAG.DE steel division head, Marie Jaroni, estimates a restructuring deal that will cut or outsource about 11,000 jobs will cost the company a three-digit million-euro amount, she told the Frankfurter Allgemeine Zeitung newspaper.
Thyssenkrupp Steel Europe (TKSE) said earlier this week that it had agreed with the IG Metall union to cut or outsource 40% of its workforce and reduce production capacity to a shipping level of 8.7 million to 9 million tons, from 11.5 million at present.
"The restructuring is costing us a mid-three-figure million euro sum. The exact amount depends on how many employees accept which offer," Jaroni said in an interview published on Wednesday.
This will pay off, she added, because the company will have permanently lower personnel costs, "a low three-digit million amount less annually than today," she told the newspaper.
Thyssenkrupp, which has for years tried to dispose of its steel business, in September received an indicative bid for from India's Jindal Steel International for TKSE.
Jindal Steel is currently carrying out detailed due diligence to assess whether to launch a formal binding offer for TKSE, Germany's largest steelmaker with sales of 10.7 billion euros ($12.46 billion) last year.
($1 = 0.8587 euros)
(Writing by Miranda Murray
Editing by Madeline Chambers)
(([email protected];))
German union discusses job security at Thyssenkrupp Steel if sale to Jindal goes through
FRANKFURT, Nov 25 (Reuters) - Worker representatives met at ThyssenKrupp Steel on Tuesday to start a process of agreeing on job security and co-determination if the German group is sold to India's Jindal Steel International, the IG Metall union said.
"A fair and best-owner agreement is intended to provide security for employees, locations, co-determination and the future of TKSE in the event of a possible sale to the Jindal Group," said the union in a statement.
Jindal Steel has made an indicative bid for TKSE, Europe's second-largest steelmaker.
(Reporting by Christoph Steitz
Writing by Madeline Chambers
Editing by Miranda Murray)
(([email protected]; +4930220133578;))
FRANKFURT, Nov 25 (Reuters) - Worker representatives met at ThyssenKrupp Steel on Tuesday to start a process of agreeing on job security and co-determination if the German group is sold to India's Jindal Steel International, the IG Metall union said.
"A fair and best-owner agreement is intended to provide security for employees, locations, co-determination and the future of TKSE in the event of a possible sale to the Jindal Group," said the union in a statement.
Jindal Steel has made an indicative bid for TKSE, Europe's second-largest steelmaker.
(Reporting by Christoph Steitz
Writing by Madeline Chambers
Editing by Miranda Murray)
(([email protected]; +4930220133578;))
Thyssenkrupp steel boss to leave, sources say
Dennis Grimm to leave amid sale talks with India's Jindal Steel
Bild cites strategic differences with Thyssenkrupp CEO
TKSE and Thyssenkrupp decline to comment
Adds context in paragraph 2, Thyssenkrupp comment in 3
FRANKFURT/DUESSELDORF, Oct 28 (Reuters) - The head of Thyssenkrupp's steel business, Dennis Grimm, has decided to leave the division, two people familiar with the matter said on Tuesday, robbing the unit of its leader as talks over a sale to India's Jindal Steel International continue.
Grimm has been the spokesperson for Thyssenkrupp Steel Europe's (TKSE) executive board, or its de facto CEO, since August 30, 2024, after the division's former CEO Bernhard Osburg stepped down following a clash with Thyssenkrupp's leadership over strategy.
TKSE and Thyssenkrupp declined to comment.
Grimm's departure comes as Thyssenkrupp is deepening talks with Jindal Steel International over a sale of TKSE, with a delegation from the Indian company scheduled to step up due diligence of the business this week, sources told Reuters.
German newspaper Bild, citing company sources, first reported Grimm's departure, saying it was the result of a falling out with Thyssenkrupp CEO Miguel Lopez over the strategic course of the business.
(Reporting by Christoph Steitz and Tom Kaeckenhoff. Editing by Thomas Escritt and Mark Potter)
(([email protected];))
Dennis Grimm to leave amid sale talks with India's Jindal Steel
Bild cites strategic differences with Thyssenkrupp CEO
TKSE and Thyssenkrupp decline to comment
Adds context in paragraph 2, Thyssenkrupp comment in 3
FRANKFURT/DUESSELDORF, Oct 28 (Reuters) - The head of Thyssenkrupp's steel business, Dennis Grimm, has decided to leave the division, two people familiar with the matter said on Tuesday, robbing the unit of its leader as talks over a sale to India's Jindal Steel International continue.
Grimm has been the spokesperson for Thyssenkrupp Steel Europe's (TKSE) executive board, or its de facto CEO, since August 30, 2024, after the division's former CEO Bernhard Osburg stepped down following a clash with Thyssenkrupp's leadership over strategy.
TKSE and Thyssenkrupp declined to comment.
Grimm's departure comes as Thyssenkrupp is deepening talks with Jindal Steel International over a sale of TKSE, with a delegation from the Indian company scheduled to step up due diligence of the business this week, sources told Reuters.
German newspaper Bild, citing company sources, first reported Grimm's departure, saying it was the result of a falling out with Thyssenkrupp CEO Miguel Lopez over the strategic course of the business.
(Reporting by Christoph Steitz and Tom Kaeckenhoff. Editing by Thomas Escritt and Mark Potter)
(([email protected];))
Thyssenkrupp: Jindal steel deal talks are "intensive" and set to continue for months
FRANKFURT, Oct 20 (Reuters) - The CEO of Thyssenkrupp TKAG.DE said on Monday that talks with Jindal Steel International over the Indian group's takeover interest in Thyssenkrupp's steel business were intensive and constructive but a deal would likely be a matter of months.
"Talks are ongoing - very intensively," CEO Miguel Lopez told Reuters at the Frankfurt stock exchange, attending the stock market debut of the TKMS TKMS.DE naval vessels unit.
"We'll see what outcome we'll have over the next few months," he added.
(Reporting by Tilman Blasshofer and Christoph Steitz, Writing by Ludwig Burger, editing by Kirsti Knolle)
(([email protected];))
FRANKFURT, Oct 20 (Reuters) - The CEO of Thyssenkrupp TKAG.DE said on Monday that talks with Jindal Steel International over the Indian group's takeover interest in Thyssenkrupp's steel business were intensive and constructive but a deal would likely be a matter of months.
"Talks are ongoing - very intensively," CEO Miguel Lopez told Reuters at the Frankfurt stock exchange, attending the stock market debut of the TKMS TKMS.DE naval vessels unit.
"We'll see what outcome we'll have over the next few months," he added.
(Reporting by Tilman Blasshofer and Christoph Steitz, Writing by Ludwig Burger, editing by Kirsti Knolle)
(([email protected];))
Kretinsky sells Thyssenkrupp steel stake as JV plans falter
FRANKFURT, Oct 2 (Reuters) - Czech billionaire Daniel Kretinsky is selling his 20% stake in Thyssenkrupp's steel unit and also scrapped plans for a 50:50 joint venture for the business, both parties said in a joint statement, paving the way for a possible deal with Jindal Steel.
The stake sale ends lengthy talks over what could have become a German-Czech steel and energy giant, discussions that have not made any measurable progress since Kretinsky bought a fifth of Thyssenkrupp Steel Europe (TKSE) last year.
It now creates momentum for Thyssenkrupp to intensify talks with India's Jindal Steel International, which last month presented an indicative bid for all of TKSE, a volatile business its parent has sought to divest for years.
The statement said that Kretinsky's EP Group "respects Thyssenkrupp AG's preference to concentrate on discussions with Jindal Steel International".
The news comes as uncertainty over the prospect of steelmaking in Europe grows, suffering from cheap Chinese imports, high energy costs and a delay to hydrogen-based decarbonisation of what is one of the most polluting industries.
Kretinsky's EP Group and Thyssenkrupp had the aim of eventually forming 50:50 joint venture for TKSE, but talks have been fraught with difficulties as powerful unions have accused the Czech businessman of refusing to engage.
(Reporting by Christoph Steitz; editing by Matthias Williams)
(([email protected]; +49 30 220 133 647;))
FRANKFURT, Oct 2 (Reuters) - Czech billionaire Daniel Kretinsky is selling his 20% stake in Thyssenkrupp's steel unit and also scrapped plans for a 50:50 joint venture for the business, both parties said in a joint statement, paving the way for a possible deal with Jindal Steel.
The stake sale ends lengthy talks over what could have become a German-Czech steel and energy giant, discussions that have not made any measurable progress since Kretinsky bought a fifth of Thyssenkrupp Steel Europe (TKSE) last year.
It now creates momentum for Thyssenkrupp to intensify talks with India's Jindal Steel International, which last month presented an indicative bid for all of TKSE, a volatile business its parent has sought to divest for years.
The statement said that Kretinsky's EP Group "respects Thyssenkrupp AG's preference to concentrate on discussions with Jindal Steel International".
The news comes as uncertainty over the prospect of steelmaking in Europe grows, suffering from cheap Chinese imports, high energy costs and a delay to hydrogen-based decarbonisation of what is one of the most polluting industries.
Kretinsky's EP Group and Thyssenkrupp had the aim of eventually forming 50:50 joint venture for TKSE, but talks have been fraught with difficulties as powerful unions have accused the Czech businessman of refusing to engage.
(Reporting by Christoph Steitz; editing by Matthias Williams)
(([email protected]; +49 30 220 133 647;))
Zimbabwe agrees $455 million power plant refurbishment deal with Jindal
HARARE, Sept 17 (Reuters) - Zimbabwe has agreed a $455 million, 15-year concession deal with the Africa-focused unit of India's Jindal Steel JINT.NS for the refurbishment of a 920 megawatt coal-fired power plant, the energy minister said.
The work on six ageing units at the Hwange thermal power station is expected to take four years, July Moyo said during a post-cabinet briefing late on Tuesday. Jindal Africa will recover its investment from revenue generated by electricity sales from the plant.
The Southern African nation currently only meets around half of its 2,000 MW electricity demand and experiences frequent, extended power cuts due to diminishing capacity at its ageing power plants.
The 1,520 MW Hwange plant, the country's largest, was upgraded in 2023 with the commissioning of two units, which added 600 MW. But its older units were built in the 1980s and are operating at a third of their capacity due to breakdowns.
The Kariba hydropower station, built in the 1960s, completed a 300 MW upgrade in 2018, which boosted its capacity to 1,050 MW. However, its generation capacity has in recent years been affected by drought.
(Reporting by Chris Takudzwa Muronzi; Editing by Nelson Banya and Joe Bavier)
(([email protected];))
HARARE, Sept 17 (Reuters) - Zimbabwe has agreed a $455 million, 15-year concession deal with the Africa-focused unit of India's Jindal Steel JINT.NS for the refurbishment of a 920 megawatt coal-fired power plant, the energy minister said.
The work on six ageing units at the Hwange thermal power station is expected to take four years, July Moyo said during a post-cabinet briefing late on Tuesday. Jindal Africa will recover its investment from revenue generated by electricity sales from the plant.
The Southern African nation currently only meets around half of its 2,000 MW electricity demand and experiences frequent, extended power cuts due to diminishing capacity at its ageing power plants.
The 1,520 MW Hwange plant, the country's largest, was upgraded in 2023 with the commissioning of two units, which added 600 MW. But its older units were built in the 1980s and are operating at a third of their capacity due to breakdowns.
The Kariba hydropower station, built in the 1960s, completed a 300 MW upgrade in 2018, which boosted its capacity to 1,050 MW. However, its generation capacity has in recent years been affected by drought.
(Reporting by Chris Takudzwa Muronzi; Editing by Nelson Banya and Joe Bavier)
(([email protected];))
Thyssenkrupp receives non-binding bid for steel unit from Jindal Steel International
Corrects headline and lead to say indicative offer was made by Jindal Steel International, not Jindal Steel Ltd
FRANKFURT, Sept 16 (Reuters) - Thyssenkrupp TKAG.DE on Tuesday said it has received a non-binding bid for its steel division from Jindal Steel International, without disclosing any further details.
Thyssenkrupp said it would closely examine the offer for Thyssenkrupp Steel Europe (TKSE) "particularly with regard to economic sustainability, the continuation of the green transformation and employment at our steel sites".
Shares in Thyssenkrupp turned positive after the news and traded 2.1% higher.
Thyssenkrupp last year sold a 20% stake in TKSE, to Czech billionaire Daniel Kretinsky, with the aim of eventually selling a further 30% stake to create a 50-50 joint venture.
Powerful labour union IG Metall criticised the move, saying Kretinsky had not provided information about his strategic plans as a co-shareholder.
Thyssenkrupp's deputy supervisory board chairman and senior IG Metall member Juergen Kerner said the news about the offer by Jindal Steel was good news.
"It is now important to enter into substantive discussions quickly in order to gain clarity on the most important open questions as soon as possible," he said.
(Reporting by Christoph Steitz, Editing by Rachel More)
(([email protected]; +49 30 220 133 647;))
Corrects headline and lead to say indicative offer was made by Jindal Steel International, not Jindal Steel Ltd
FRANKFURT, Sept 16 (Reuters) - Thyssenkrupp TKAG.DE on Tuesday said it has received a non-binding bid for its steel division from Jindal Steel International, without disclosing any further details.
Thyssenkrupp said it would closely examine the offer for Thyssenkrupp Steel Europe (TKSE) "particularly with regard to economic sustainability, the continuation of the green transformation and employment at our steel sites".
Shares in Thyssenkrupp turned positive after the news and traded 2.1% higher.
Thyssenkrupp last year sold a 20% stake in TKSE, to Czech billionaire Daniel Kretinsky, with the aim of eventually selling a further 30% stake to create a 50-50 joint venture.
Powerful labour union IG Metall criticised the move, saying Kretinsky had not provided information about his strategic plans as a co-shareholder.
Thyssenkrupp's deputy supervisory board chairman and senior IG Metall member Juergen Kerner said the news about the offer by Jindal Steel was good news.
"It is now important to enter into substantive discussions quickly in order to gain clarity on the most important open questions as soon as possible," he said.
(Reporting by Christoph Steitz, Editing by Rachel More)
(([email protected]; +49 30 220 133 647;))
Jindal Steel Q1 Consol Net Profit 14.94 Billion Rupees
Aug 12 (Reuters) - Jindal Steel Ltd JNSP.NS:
JINDAL STEEL Q1 CONSOL NET PROFIT 14.94 BILLION RUPEES
JINDAL STEEL AND POWER Q1 CONSOL TOTAL REVENUE FROM OPERATIONS 122.94 BILLION RUPEES
Source text: [ID:]
Further company coverage: JNSP.NS
(([email protected];;))
Aug 12 (Reuters) - Jindal Steel Ltd JNSP.NS:
JINDAL STEEL Q1 CONSOL NET PROFIT 14.94 BILLION RUPEES
JINDAL STEEL AND POWER Q1 CONSOL TOTAL REVENUE FROM OPERATIONS 122.94 BILLION RUPEES
Source text: [ID:]
Further company coverage: JNSP.NS
(([email protected];;))
Indian alloy steel producers file anti-dumping plea against Chinese steel, executive says
NEW DELHI, Aug 11 (Reuters) - The Indian alloy steel producers' association has filed an anti-dumping petition with the federal trade ministry against cheap imports from China, its senior executive told Reuters on Monday.
India, the world's second-biggest producer of crude steel, has the capacity to make around 18 million to 20 million metric tons per annum of alloy steel, which is used in the auto, defence and aerospace sectors.
"China is selling wire rods of alloy steel at very low prices, and imports have gone up considerably in the last three years, hurting the local alloy steel producers," said Anil Dhawan, director general, Alloy Steel Producers Association of India (ASPA).
Alloy steel wire rods are mainly used for automobiles and their components, Dhawan said.
Dhawan said the anti-dumping petition was filed on July 31 with the Directorate General of Trade Remedies, which falls under the Ministry of Commerce and Industry.
The ASPA's members include JSW Steel JSTL.NS, India's biggest steelmaker, as well as Jindal Steel JNSP.NS, Kalyani Steels KLSL.NS, and Mukand Sumi Special Steel, among others.
In April, India imposed a 12% temporary tariff on some steel imports, locally known as a safeguard duty, to curb a surge in cheap shipments primarily from China.
(Reporting by Neha Arora; Editing by Sonali Paul)
(([email protected];))
NEW DELHI, Aug 11 (Reuters) - The Indian alloy steel producers' association has filed an anti-dumping petition with the federal trade ministry against cheap imports from China, its senior executive told Reuters on Monday.
India, the world's second-biggest producer of crude steel, has the capacity to make around 18 million to 20 million metric tons per annum of alloy steel, which is used in the auto, defence and aerospace sectors.
"China is selling wire rods of alloy steel at very low prices, and imports have gone up considerably in the last three years, hurting the local alloy steel producers," said Anil Dhawan, director general, Alloy Steel Producers Association of India (ASPA).
Alloy steel wire rods are mainly used for automobiles and their components, Dhawan said.
Dhawan said the anti-dumping petition was filed on July 31 with the Directorate General of Trade Remedies, which falls under the Ministry of Commerce and Industry.
The ASPA's members include JSW Steel JSTL.NS, India's biggest steelmaker, as well as Jindal Steel JNSP.NS, Kalyani Steels KLSL.NS, and Mukand Sumi Special Steel, among others.
In April, India imposed a 12% temporary tariff on some steel imports, locally known as a safeguard duty, to curb a surge in cheap shipments primarily from China.
(Reporting by Neha Arora; Editing by Sonali Paul)
(([email protected];))
Metso Secures Filtration Equipment Order for Jindal Steel's Iron Ore Project in India
Metso Oyj has secured a contract to supply sustainable filtration technology to Jindal Steel's iron ore pellet plant in Angul, eastern India. The order, whose value remains undisclosed, was booked in the second-quarter orders of 2025. Metso's Larox® FFP pressure filters, known for their reliable and optimized dewatering capabilities, will be deployed to enhance concentrate, tailings, and bulk applications. This collaboration marks another milestone in Metso's long-standing partnership with Jindal Steel, as the company continues to use Metso's filters at their Barbil plant as well. Metso's filtration portfolio includes 16 filter types and comprehensive services, with over 5,000 installations globally, and more than 300 filters delivered in India.
Metso Oyj has secured a contract to supply sustainable filtration technology to Jindal Steel's iron ore pellet plant in Angul, eastern India. The order, whose value remains undisclosed, was booked in the second-quarter orders of 2025. Metso's Larox® FFP pressure filters, known for their reliable and optimized dewatering capabilities, will be deployed to enhance concentrate, tailings, and bulk applications. This collaboration marks another milestone in Metso's long-standing partnership with Jindal Steel, as the company continues to use Metso's filters at their Barbil plant as well. Metso's filtration portfolio includes 16 filter types and comprehensive services, with over 5,000 installations globally, and more than 300 filters delivered in India.
Jindal Steel And Power Q4 Consol Net Loss 3.39 Billion Rupees
April 30 (Reuters) - Jindal Steel And Power Ltd JNSP.NS:
JINDAL STEEL AND POWER Q4 CONSOL NET LOSS 3.39 BILLION RUPEES
JINDAL STEEL AND POWER Q4 CONSOL TOTAL REVENUE FROM OPERATIONS 131.83 BILLION RUPEES
JINDAL STEEL - DIVIDEND 2 RUPEES PER SHARE
Source text: ID:nBSE6YdBpS
Further company coverage: JNSP.NS
(([email protected];))
April 30 (Reuters) - Jindal Steel And Power Ltd JNSP.NS:
JINDAL STEEL AND POWER Q4 CONSOL NET LOSS 3.39 BILLION RUPEES
JINDAL STEEL AND POWER Q4 CONSOL TOTAL REVENUE FROM OPERATIONS 131.83 BILLION RUPEES
JINDAL STEEL - DIVIDEND 2 RUPEES PER SHARE
Source text: ID:nBSE6YdBpS
Further company coverage: JNSP.NS
(([email protected];))
INDIAN ALLOY STEEL PRODUCERS BODY PLAN TO SOON FILE ANTI-DUMPING PETITION AGAINST CHEAP CHINESE STEEL, EXECUTIVE SAYS
By Neha Arora
NEW DELHI, March 27 (Reuters) - The Indian alloy steel producers' association plans to soon file an anti-dumping petition with the federal trade ministry against cheap imports from China, its senior executive told Reuters on Thursday.
India, the world's second-biggest producer of crude steel, has the capacity to make around 18-20 million metric tons per annum of alloy steel that is used in auto, defence and aerospace sectors.
"There has been an increase in imports of alloy and special steel bars and rods into India continuously from China, Japan, Korea and others, while China is exporting to India these products at very low prices," Anil Dhawan, Director General, Alloy Steel Producers Association of India (ASPA), said in response to a query on the petition.
"ASPA and its members are working with their legal counsel to file an anti-dumping petition with the DGTR (Directorate General of Trade Remedies) in the near future."
The DGTR falls under the federal trade ministry.
The ASPA's members include JSW Steel JSTL.NS, India's biggest steelmaker, as well as Jindal Steel and Power JNSP.NS, Kalyani Steels KLSL.NS, and Mukand Sumi Special Steel, among others.
Earlier this month, India recommended a temporary 12% tax, known locally as safeguard duty, on some steel products for 200 days to curb imports.
India shipped in record quantities of finished steel during April-January and was a net importer, Reuters had reported earlier.
Its finished steel imports from China, South Korea and Japan hit a record high in the first 10 months of the current financial year.
(Reporting by Neha Arora; Editing by Savio D'Souza)
(([email protected];))
By Neha Arora
NEW DELHI, March 27 (Reuters) - The Indian alloy steel producers' association plans to soon file an anti-dumping petition with the federal trade ministry against cheap imports from China, its senior executive told Reuters on Thursday.
India, the world's second-biggest producer of crude steel, has the capacity to make around 18-20 million metric tons per annum of alloy steel that is used in auto, defence and aerospace sectors.
"There has been an increase in imports of alloy and special steel bars and rods into India continuously from China, Japan, Korea and others, while China is exporting to India these products at very low prices," Anil Dhawan, Director General, Alloy Steel Producers Association of India (ASPA), said in response to a query on the petition.
"ASPA and its members are working with their legal counsel to file an anti-dumping petition with the DGTR (Directorate General of Trade Remedies) in the near future."
The DGTR falls under the federal trade ministry.
The ASPA's members include JSW Steel JSTL.NS, India's biggest steelmaker, as well as Jindal Steel and Power JNSP.NS, Kalyani Steels KLSL.NS, and Mukand Sumi Special Steel, among others.
Earlier this month, India recommended a temporary 12% tax, known locally as safeguard duty, on some steel products for 200 days to curb imports.
India shipped in record quantities of finished steel during April-January and was a net importer, Reuters had reported earlier.
Its finished steel imports from China, South Korea and Japan hit a record high in the first 10 months of the current financial year.
(Reporting by Neha Arora; Editing by Savio D'Souza)
(([email protected];))
Italy to begin exclusive talks with Azeri consortium over sale of Ilva steelworks
Recast with ADI statement in second and fifth paragraph
ROME, March 20 (Reuters) - Italy will begin exclusive talks with an Azeri consortium about the sale of Italian steel company Acciaierie d'Italia (ADI), formerly known as Ilva, Industry Minister Adolfo Urso and ADI said on Thursday.
ADI said in a statement that the consortium investors interested in taking it over are Baku Steel and Azerbaijan Investment Company OJSC, part of the Azerbaijan Business Development Fund.
The company, which is under state administration after struggling to maintain production amid rising energy costs and weak demand, is a major headache for Italian Prime Minister Giorgia Meloni because its closure would have major knock-on effects for the country's manufacturing sector.
"The commissioners (running the company) have pre-announced to me that they will send a formal request today to be authorized to negotiate with the Azeri consortium that made the best proposal," Urso told reporters on the sidelines of an event in Bologna, northern Italy, earlier in the day.
ADI's commissioners took into account several factors in the selection process, including the applicants' financial viability, the industrial sustainability of their proposals, and the projected benefits for employment and local communities, the statement said.
In February, both Baku Steel and the Indian company Jindal Steel International raised their preliminary bids for ADI.
The government took charge of ADI's factories in Italy last year under a special administration procedure, ending weeks of clashes with its then top shareholder ArcelorMittal MT.LU, the world's second-largest steelmaker.
(Reporting by Giuseppe Fonte and Francesca Piscioneri, editing by Gavin Jones, Tomasz Janowski, Gianluca Semeraro and Jan Harvey)
(([email protected]; +390680307711;))
Recast with ADI statement in second and fifth paragraph
ROME, March 20 (Reuters) - Italy will begin exclusive talks with an Azeri consortium about the sale of Italian steel company Acciaierie d'Italia (ADI), formerly known as Ilva, Industry Minister Adolfo Urso and ADI said on Thursday.
ADI said in a statement that the consortium investors interested in taking it over are Baku Steel and Azerbaijan Investment Company OJSC, part of the Azerbaijan Business Development Fund.
The company, which is under state administration after struggling to maintain production amid rising energy costs and weak demand, is a major headache for Italian Prime Minister Giorgia Meloni because its closure would have major knock-on effects for the country's manufacturing sector.
"The commissioners (running the company) have pre-announced to me that they will send a formal request today to be authorized to negotiate with the Azeri consortium that made the best proposal," Urso told reporters on the sidelines of an event in Bologna, northern Italy, earlier in the day.
ADI's commissioners took into account several factors in the selection process, including the applicants' financial viability, the industrial sustainability of their proposals, and the projected benefits for employment and local communities, the statement said.
In February, both Baku Steel and the Indian company Jindal Steel International raised their preliminary bids for ADI.
The government took charge of ADI's factories in Italy last year under a special administration procedure, ending weeks of clashes with its then top shareholder ArcelorMittal MT.LU, the world's second-largest steelmaker.
(Reporting by Giuseppe Fonte and Francesca Piscioneri, editing by Gavin Jones, Tomasz Janowski, Gianluca Semeraro and Jan Harvey)
(([email protected]; +390680307711;))
Indian steel stocks climb on plan for temporary tax on imports
March 19 (Reuters) - Shares of Indian steel companies rose in early trade on Wednesday after a government body recommended a temporary tax on some steel products in a bid to curb cheap imports.
An index of metal company shares .NIFTYMET rose 0.8%, with industry leader JSW Steel and Tata Steel among the top ten gainers on the Nifty 50 index .NSEI, which was trading flat.
Shares of JSW Steel JSTL.NS rose 1.5%, while Tata Steel TISC.NS climbed 2.1% as of 9:30 a.m. IST. State-owned SAIL SAIL.NS rose 2.6% and Jindal Steel and Power JNSP.NS gained about 1%.
The Directorate General of Trade Remedies, under the federal trade ministry, has recommended a 12% temporary tax or safeguard duty for 200 days on certain steel products in a bid to curb "serious injury" to the domestic industry.
(Reporting by Manvi Pant in Bengaluru; Editing by Mrigank Dhaniwala)
(([email protected]; +918447554364;))
March 19 (Reuters) - Shares of Indian steel companies rose in early trade on Wednesday after a government body recommended a temporary tax on some steel products in a bid to curb cheap imports.
An index of metal company shares .NIFTYMET rose 0.8%, with industry leader JSW Steel and Tata Steel among the top ten gainers on the Nifty 50 index .NSEI, which was trading flat.
Shares of JSW Steel JSTL.NS rose 1.5%, while Tata Steel TISC.NS climbed 2.1% as of 9:30 a.m. IST. State-owned SAIL SAIL.NS rose 2.6% and Jindal Steel and Power JNSP.NS gained about 1%.
The Directorate General of Trade Remedies, under the federal trade ministry, has recommended a 12% temporary tax or safeguard duty for 200 days on certain steel products in a bid to curb "serious injury" to the domestic industry.
(Reporting by Manvi Pant in Bengaluru; Editing by Mrigank Dhaniwala)
(([email protected]; +918447554364;))
Jindal Steel Said To Raise Bid For Italian Steelmaker To €4 Billion- Bloomberg News
Feb 27 (Reuters) - Jindal Steel And Power Ltd JNSP.NS:
JINDAL SAID TO RAISE BID FOR ITALIAN STEELMAKER TO €4 BILLION- BLOOMBERG NEWS
Source text: https://tinyurl.com/2csxtpk9
Further company coverage: JNSP.NS
(Reporting by AnushaDevan Shah)
(([email protected];))
Feb 27 (Reuters) - Jindal Steel And Power Ltd JNSP.NS:
JINDAL SAID TO RAISE BID FOR ITALIAN STEELMAKER TO €4 BILLION- BLOOMBERG NEWS
Source text: https://tinyurl.com/2csxtpk9
Further company coverage: JNSP.NS
(Reporting by AnushaDevan Shah)
(([email protected];))
Baku Steel, Jindal frontrunners to buy Italy's Ilva
ROME, Feb 15 (Reuters) - Baku Steel Company and Jindal Steel International have raised their bids for Acciaierie d'Italia (ADI), formerly known as Ilva, the Italian government said on Saturday, making them the frontrunners in the bidding for the plant.
ADI, based in the southern Italian city of Taranto, has been under state administration after struggling to maintain production amid rising energy costs and weak demand.
The fate of ADI is a concern for Italian Prime Minister Giorgia Meloni, as its closure would have a serious impact on the country's manufacturing sector.
Ilva's extraordinary commissioners said in a statement that they would evaluate the bids "in a few days" and send their opinion to the industry ministry.
They did not give financial details.
Italian newspaper Il Messaggero reported on Saturday that Baku Steel Company has raised its offer to around 1 billion euros ($1.05 billion), more than Jindal's.
The government hopes to conclude negotiations by March, Il Messaggero added.
($1 = 0.9532 euros)
(Reporting by Giselda Vagnoni; editing by Barbara Lewis)
(([email protected]; +39 06 85224210;))
ROME, Feb 15 (Reuters) - Baku Steel Company and Jindal Steel International have raised their bids for Acciaierie d'Italia (ADI), formerly known as Ilva, the Italian government said on Saturday, making them the frontrunners in the bidding for the plant.
ADI, based in the southern Italian city of Taranto, has been under state administration after struggling to maintain production amid rising energy costs and weak demand.
The fate of ADI is a concern for Italian Prime Minister Giorgia Meloni, as its closure would have a serious impact on the country's manufacturing sector.
Ilva's extraordinary commissioners said in a statement that they would evaluate the bids "in a few days" and send their opinion to the industry ministry.
They did not give financial details.
Italian newspaper Il Messaggero reported on Saturday that Baku Steel Company has raised its offer to around 1 billion euros ($1.05 billion), more than Jindal's.
The government hopes to conclude negotiations by March, Il Messaggero added.
($1 = 0.9532 euros)
(Reporting by Giselda Vagnoni; editing by Barbara Lewis)
(([email protected]; +39 06 85224210;))
India weighs temporary tax on cheap Chinese steel import, minister says
Chinese imports often aided by unfair trade practices: minister
India could impose temporary tax of 15%-25% to curb imports
India looking at Canada, Russia, U.S. to source coking coal
By Neha Arora and Mayank Bhardwaj
NEW DELHI, Feb 12 (Reuters) - India could impose a temporary tax of 15%-25% on steel from China in as soon as six months because of the "serious challenge" to domestic producers from cheap imports, Steel Minister H.D. Kumaraswamy said.
"Rising Chinese steel imports, often aided by unfair trade practices, pose a serious challenge to Indian manufacturers," Kumaraswamy told Reuters in an interview late on Tuesday. "The government is resolute in its commitment to protecting the Indian steel industry," Kumaraswamy added.
New Delhi began an investigation in December into whether to impose a temporary tax, known locally as a safeguard duty, to curb steel imports. If adopted, it could remain in force for as long as two years.
"Based on ongoing investigations, safeguard duties in the range of 15-25% are being considered to prevent unfair competition and ensure a level playing field," the minister said.
India became a net importer of finished steel in the fiscal year ending March 2024, and shipments from China reached a record high between April and December.
As a result, despite robust local demand as a result of rapid economic growth and rising infrastructure spending in the world's fastest-growing major economy, domestic steel prices have slumped.
Some of India's smaller mills have had to scale down operations and consider job cuts as a result of the import surge, Reuters reported in December.
Industry insiders say U.S. President Donald Trump's sharp tariff increases on steel imports could exacerbate the problems as exporters look to ship to India instead.
"Given their duty-free access on account of the free trade agreements (FTA) with India, import pressures from South Korea and Japan could increase in FY2026 as they search for alternate markets for their hitherto American cargoes. This can exert pressure on domestic steel prices, pulling down the industry’s earnings further in FY2026," ratings agency ICRA said in a note on Wednesday.
India's steel exports have also slumped in recent months, primarily due to sluggish global demand, exacerbating the challenges faced by India's leading steelmakers such as JSW Steel JSTL.NS, Tata Steel TISC.NS, and Jindal Steel and Power JNSP.NS.
JSW Steel, India's biggest steelmaker, reported a larger than expected decline in October to December profit, its fiscal third-quarter, last month.
"While short-term challenges have impacted steel exports, the government is actively working on expanding market access," Kumaraswamy said, alluding to India's efforts to find new markets for its steel.
India was looking to sell its steel to Africa, the Middle East, and Southeast Asia, he said, adding that manufacturers had shifted towards producing high-value, specialised steel. High-grade steel can command higher prices and the competition from China is less intense.
India is also looking to diversify sources of steel-making raw materials such as coking coal, Kumaraswamy said, looking towards Canada, Russia, Mongolia, Mozambique, and the United States.
Australia was the main supplier of coking coal to India in the last decade, accounting for about 80% of all such shipments. Its share dropped to 62% in 2024, as supplies from the U.S. as well as Russia and Mozambique helped India to diversify.
The minister also said the government would roll out a production-linked incentive programme to encourage low-carbon steel production.
India would require an estimated investment of $20-25 billion for its steel sector's decarbonisation, with the transition funded through green bonds, concessional financing, and public-private partnerships, the minister said.
(Reporting by Neha Arora and Mayank Bhardwaj; Additional reporting by Manvi Pant in Bengaluru; Editing by Kate Mayberry)
(([email protected];))
Chinese imports often aided by unfair trade practices: minister
India could impose temporary tax of 15%-25% to curb imports
India looking at Canada, Russia, U.S. to source coking coal
By Neha Arora and Mayank Bhardwaj
NEW DELHI, Feb 12 (Reuters) - India could impose a temporary tax of 15%-25% on steel from China in as soon as six months because of the "serious challenge" to domestic producers from cheap imports, Steel Minister H.D. Kumaraswamy said.
"Rising Chinese steel imports, often aided by unfair trade practices, pose a serious challenge to Indian manufacturers," Kumaraswamy told Reuters in an interview late on Tuesday. "The government is resolute in its commitment to protecting the Indian steel industry," Kumaraswamy added.
New Delhi began an investigation in December into whether to impose a temporary tax, known locally as a safeguard duty, to curb steel imports. If adopted, it could remain in force for as long as two years.
"Based on ongoing investigations, safeguard duties in the range of 15-25% are being considered to prevent unfair competition and ensure a level playing field," the minister said.
India became a net importer of finished steel in the fiscal year ending March 2024, and shipments from China reached a record high between April and December.
As a result, despite robust local demand as a result of rapid economic growth and rising infrastructure spending in the world's fastest-growing major economy, domestic steel prices have slumped.
Some of India's smaller mills have had to scale down operations and consider job cuts as a result of the import surge, Reuters reported in December.
Industry insiders say U.S. President Donald Trump's sharp tariff increases on steel imports could exacerbate the problems as exporters look to ship to India instead.
"Given their duty-free access on account of the free trade agreements (FTA) with India, import pressures from South Korea and Japan could increase in FY2026 as they search for alternate markets for their hitherto American cargoes. This can exert pressure on domestic steel prices, pulling down the industry’s earnings further in FY2026," ratings agency ICRA said in a note on Wednesday.
India's steel exports have also slumped in recent months, primarily due to sluggish global demand, exacerbating the challenges faced by India's leading steelmakers such as JSW Steel JSTL.NS, Tata Steel TISC.NS, and Jindal Steel and Power JNSP.NS.
JSW Steel, India's biggest steelmaker, reported a larger than expected decline in October to December profit, its fiscal third-quarter, last month.
"While short-term challenges have impacted steel exports, the government is actively working on expanding market access," Kumaraswamy said, alluding to India's efforts to find new markets for its steel.
India was looking to sell its steel to Africa, the Middle East, and Southeast Asia, he said, adding that manufacturers had shifted towards producing high-value, specialised steel. High-grade steel can command higher prices and the competition from China is less intense.
India is also looking to diversify sources of steel-making raw materials such as coking coal, Kumaraswamy said, looking towards Canada, Russia, Mongolia, Mozambique, and the United States.
Australia was the main supplier of coking coal to India in the last decade, accounting for about 80% of all such shipments. Its share dropped to 62% in 2024, as supplies from the U.S. as well as Russia and Mozambique helped India to diversify.
The minister also said the government would roll out a production-linked incentive programme to encourage low-carbon steel production.
India would require an estimated investment of $20-25 billion for its steel sector's decarbonisation, with the transition funded through green bonds, concessional financing, and public-private partnerships, the minister said.
(Reporting by Neha Arora and Mayank Bhardwaj; Additional reporting by Manvi Pant in Bengaluru; Editing by Kate Mayberry)
(([email protected];))
India's Jindal Steel & Power drops to one-year low on Q3 profit slump
** India's Jindal Steel & Power JNSP.NS down 12.7% at 733 rupees, its lowest since Feb 2024
** JNSP stock marks its worst intraday pct drop since May 2022
** The steel miner on Thursday reported a 51% Y/Y profit slump on lower demand and prices
** Co also announced additional capex of 160 bln rupees ($1.85 bln) on top of existing 310 bln rupees capex plan
** Without corresponding capacity expansion, there is uncertainty around returns, earnings contribution from capex projects; expect stock to react negatively to results - CLSA
** JNSP stock down 20.1% so far in Jan vs a 4.6% drop in Nifty Metals Index .NIFTYMET
($1 = 86.6520 Indian rupees)
(Reporting by Sethuraman NR in Bengaluru)
(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))
** India's Jindal Steel & Power JNSP.NS down 12.7% at 733 rupees, its lowest since Feb 2024
** JNSP stock marks its worst intraday pct drop since May 2022
** The steel miner on Thursday reported a 51% Y/Y profit slump on lower demand and prices
** Co also announced additional capex of 160 bln rupees ($1.85 bln) on top of existing 310 bln rupees capex plan
** Without corresponding capacity expansion, there is uncertainty around returns, earnings contribution from capex projects; expect stock to react negatively to results - CLSA
** JNSP stock down 20.1% so far in Jan vs a 4.6% drop in Nifty Metals Index .NIFTYMET
($1 = 86.6520 Indian rupees)
(Reporting by Sethuraman NR in Bengaluru)
(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))
Jindal Steel And Power Reports Q3 Consol Net Profit Of 9.51 Billion Rupees
Jan 30 (Reuters) - Jindal Steel And Power Ltd JNSP.NS:
Q3 CONSOL NET PROFIT 9.51 BILLION RUPEES
Q3 CONSOL TOTAL REVENUE FROM OPERATIONS 117.51 BILLION RUPEES
Further company coverage: JNSP.NS
(([email protected];))
Jan 30 (Reuters) - Jindal Steel And Power Ltd JNSP.NS:
Q3 CONSOL NET PROFIT 9.51 BILLION RUPEES
Q3 CONSOL TOTAL REVENUE FROM OPERATIONS 117.51 BILLION RUPEES
Further company coverage: JNSP.NS
(([email protected];))
Italy - Factors to watch on Jan. 14
The following factors could affect Italian markets on Tuesday.
Reuters has not verified the newspaper reports, and cannot vouch for their accuracy. New items are marked with (*).
For a complete list of diary events in Italy please click on IT/DIA.
POLITICS
Germany, Poland, Britain, France and Italy will implement as swiftly as possible new NATO targets for weapons and troop numbers which the alliance is about to agree upon, German Defence Minister Pistorius pledged on Monday.
ECONOMY
ISTAT releases November industrial output data (0900 GMT) and bulletin on the state of the economy in November and December (1000 GMT).
COMPANIES
(*) INTESA SANPAOLO ISP.MI
Italy's largest bank on Monday completed its first proprietary Bitcoin trade, investing 1 million euros ($1.03 million) in the world's largest digital currency, an internal memo showed.
(*) UNICREDIT CRDI.MI
Credit Agricole CAGR.PA should decide by May whether it wants Italy's second largest lender to extend its contract with the French bank's fund manager Amundi AMUN.PA, Italian daily Il Messaggero reported on Tuesday, citing comments by UniCredit CEO Andrea Orcel.
(*) BANCA POPOLARE SONDRIO BPSI.MI, BANCO DESIO DESI.MI
The Cr Asti banking foundation, the main shareholder of the northern Italian lender Cassa di Risparmio di Asti, is considering possible merger partners for the bank and has attracted the interest of northern peers Banca Popolare di Sondrio and Banco Desio, daily La Stampa reported on Tuesday.
(*) FINCANTIERI FCT.MI, LEONARDO LDOF.MI
The Italian shipbuilder Fincantieri has reached a final agreement with defence group Leonardo for the acquisition of its Underwater Armament Systems unit, the daily MF reported on Tuesday. The purchase price will be around 415 million euros, the paper said, at the upper end of a range set in May last year.
(*) BANCO BPM BAMI.MI, ANIMA HOLDING ANIM.MI
Lawyers for Italy's third-largest bank have advised the lender that it can raise the price of its offer for asset manager Anima with the votes of just half of its shareholders plus one, at a general meeting, rather than the two-thirds required under a so-called "passivity rule," MF daily reported on Tuesday.
The passivity rule prevents managers of a takeover target from doing anything that could thwart a takeover bid without approval from shareholders.
The newspaper added that the bank's board of directors will hold a preliminary discussion on Jan. 21 over whether to increase its bid, while a general meeting could be held by March.
(*) DANIELI DANI.MI
India's Jindal Steel International JNSP.NS, one of three companies which has presented an offer to buy Italian steel firm Acciaierie d'Italia, wants to involve machine-maker Danieli in its plans for modernising Acciaierie d'Italia's existing plants and building new ones, Jindal Steel's European director Narendra Kumar Misra said in an interview with daily Il Sole 24 Ore on Tuesday.
(*) A2A A2.MI, HERA HRA.MI, IREN IREE.MI, EDISON EDNn.MI
The French utility Engie ENGIE.PA is considering selling its retail business in Italy, Italian daily Il Sole 24 Ore reported on Tuesday. The newspaper said the business, with almost a million customers, is worth at least 500 million euros. It mentioned the Italian utilities A2A, Hera, Iren and Edison as potential buyers.
(*) NEXI NEXII.MI
Morgan Stanley cut its rating on the Italian payments firm to underweight from equal rate. It lowered its target price to 4.75 euros from 7.15.
(*) PIRELLI PIRC.MI
Goldman Sachs on Tuesday raised its recommendation for the Italian tyre maker to buy from neutral, and raised the target price to 7.2 euros from 6.4.
(*) MONCLER MONC.MI
Barclays on Tuesday cut its rating on the Italian fashion company to equal weight from overweight, and lowered the target price to 56 euros from 61
CUCINELLI BCU.MI
Revenues at the Italian luxury group rose 12.4% at constant exchange rates last year, a touch above its most recent guidance, bucking a sector slowdown thanks to its focus on the industry's high end.
SAIPEM SPMI.MI
The Italian energy contractor said on Monday it will present its strategic plan for 2025-2028 on Feb. 25.
TELECOM ITALIA (TIM) TLIT.MI
An Italian court is expected to decide this week on a request by top investor Vivendi VIV.PA to annul the former phone monopoly's decision to sell its landline grid to a consortium led by KKR KKR.N, a source close to the matter said on Monday.
MEDIOBANCA
Consumer credit arm Compass took a majority stake in HeidiPay, a company focusing on the "Buy Now Pay Later" sector, in which it previously had a 19.5% stake, the bank said on Monday.
DIARY
Rome, Foreign Minister Antonio Tajani holds press point with Israeli counterpart Gideon Sa'ar (1800 GMT).
Environment and Energy Security Minister Gilberto Pichetto Fratin attends 4th edition "Future Minerals Forum (FMF)" in Riyadh (Saudi Arabia).
Rome, Slovakia President Peter Pellegrini on official visit meets with Prime Minister Giorgia Meloni (1030) and President Sergio Mattarella (1100 GMT).
Rome, National Institute for Public Policy Analysis (INAPP) President Natale Forlani presents 2024 report (1000 GMT); Labour Minister Marina Elvira Calderone expected to give speech.
Milan, Intesa Sanpaolo ISP.MI and business lobby Confindustria present renewed cooperation agreement "Investment, innovation, credit; the key factors for the sustainable growth of Italian companies" with CEO Carlo Messina (1000 GMT).
((Milan newsroom, e-mail: [email protected]))
For Italian market data and news, click on codes in
brackets:
20 biggest gainers (in percentage).............PG.MI
20 biggest losers (in percentage)..............PL.MI
FTSE IT allshare index .FTITLMS
FTSE Mib index........ .FTMIB
FTSE Allstars index... .FTSTAR
FTSE Mid Cap index.... .FTITMC
Block trades.......... .BLK.MI
Stories on Italy...... IT-LEN
For pan-European market data and news, click on codes in
brackets:
European Equities speed guide...................EUR/EQUITY
FTSEurofirst 300 index...............................FTEU3
DJ STOXX index.......................................STOXX
Top 10 STOXX sectors............................PGL.STOXXS
Top 10 EUROSTOXX sectors.......................PGL.STOXXES
Top 10 Eurofirst 300 sectors....................PGL.FTEU3S
Top 25 European pct gainers........................PG.PEUR
Top 25 European pct losers.........................PL.PEUR
Main stock markets:
Dow Jones................DJI Wall Street report ......N
Nikkei 225..............N225 Tokyo report.............T
FTSE 100................FTSE London report............L
Xetra DAX..............GDAXI Frankfurt market stories.F
CAC-40..................FCHI Paris market stories....PA
World Indices.....................................0#.INDEX
Reuters survey of world bourse outlook.........EQUITYPOLL1
Western European IPO diary..........................WEUIPO
European Asset Allocation........................EUR/ASSET
Reuters News at a Glance: Equities...............TOP/EQE
Main currency report:...............................FRX/
($1 = 0.9759 euros)
The following factors could affect Italian markets on Tuesday.
Reuters has not verified the newspaper reports, and cannot vouch for their accuracy. New items are marked with (*).
For a complete list of diary events in Italy please click on IT/DIA.
POLITICS
Germany, Poland, Britain, France and Italy will implement as swiftly as possible new NATO targets for weapons and troop numbers which the alliance is about to agree upon, German Defence Minister Pistorius pledged on Monday.
ECONOMY
ISTAT releases November industrial output data (0900 GMT) and bulletin on the state of the economy in November and December (1000 GMT).
COMPANIES
(*) INTESA SANPAOLO ISP.MI
Italy's largest bank on Monday completed its first proprietary Bitcoin trade, investing 1 million euros ($1.03 million) in the world's largest digital currency, an internal memo showed.
(*) UNICREDIT CRDI.MI
Credit Agricole CAGR.PA should decide by May whether it wants Italy's second largest lender to extend its contract with the French bank's fund manager Amundi AMUN.PA, Italian daily Il Messaggero reported on Tuesday, citing comments by UniCredit CEO Andrea Orcel.
(*) BANCA POPOLARE SONDRIO BPSI.MI, BANCO DESIO DESI.MI
The Cr Asti banking foundation, the main shareholder of the northern Italian lender Cassa di Risparmio di Asti, is considering possible merger partners for the bank and has attracted the interest of northern peers Banca Popolare di Sondrio and Banco Desio, daily La Stampa reported on Tuesday.
(*) FINCANTIERI FCT.MI, LEONARDO LDOF.MI
The Italian shipbuilder Fincantieri has reached a final agreement with defence group Leonardo for the acquisition of its Underwater Armament Systems unit, the daily MF reported on Tuesday. The purchase price will be around 415 million euros, the paper said, at the upper end of a range set in May last year.
(*) BANCO BPM BAMI.MI, ANIMA HOLDING ANIM.MI
Lawyers for Italy's third-largest bank have advised the lender that it can raise the price of its offer for asset manager Anima with the votes of just half of its shareholders plus one, at a general meeting, rather than the two-thirds required under a so-called "passivity rule," MF daily reported on Tuesday.
The passivity rule prevents managers of a takeover target from doing anything that could thwart a takeover bid without approval from shareholders.
The newspaper added that the bank's board of directors will hold a preliminary discussion on Jan. 21 over whether to increase its bid, while a general meeting could be held by March.
(*) DANIELI DANI.MI
India's Jindal Steel International JNSP.NS, one of three companies which has presented an offer to buy Italian steel firm Acciaierie d'Italia, wants to involve machine-maker Danieli in its plans for modernising Acciaierie d'Italia's existing plants and building new ones, Jindal Steel's European director Narendra Kumar Misra said in an interview with daily Il Sole 24 Ore on Tuesday.
(*) A2A A2.MI, HERA HRA.MI, IREN IREE.MI, EDISON EDNn.MI
The French utility Engie ENGIE.PA is considering selling its retail business in Italy, Italian daily Il Sole 24 Ore reported on Tuesday. The newspaper said the business, with almost a million customers, is worth at least 500 million euros. It mentioned the Italian utilities A2A, Hera, Iren and Edison as potential buyers.
(*) NEXI NEXII.MI
Morgan Stanley cut its rating on the Italian payments firm to underweight from equal rate. It lowered its target price to 4.75 euros from 7.15.
(*) PIRELLI PIRC.MI
Goldman Sachs on Tuesday raised its recommendation for the Italian tyre maker to buy from neutral, and raised the target price to 7.2 euros from 6.4.
(*) MONCLER MONC.MI
Barclays on Tuesday cut its rating on the Italian fashion company to equal weight from overweight, and lowered the target price to 56 euros from 61
CUCINELLI BCU.MI
Revenues at the Italian luxury group rose 12.4% at constant exchange rates last year, a touch above its most recent guidance, bucking a sector slowdown thanks to its focus on the industry's high end.
SAIPEM SPMI.MI
The Italian energy contractor said on Monday it will present its strategic plan for 2025-2028 on Feb. 25.
TELECOM ITALIA (TIM) TLIT.MI
An Italian court is expected to decide this week on a request by top investor Vivendi VIV.PA to annul the former phone monopoly's decision to sell its landline grid to a consortium led by KKR KKR.N, a source close to the matter said on Monday.
MEDIOBANCA
Consumer credit arm Compass took a majority stake in HeidiPay, a company focusing on the "Buy Now Pay Later" sector, in which it previously had a 19.5% stake, the bank said on Monday.
DIARY
Rome, Foreign Minister Antonio Tajani holds press point with Israeli counterpart Gideon Sa'ar (1800 GMT).
Environment and Energy Security Minister Gilberto Pichetto Fratin attends 4th edition "Future Minerals Forum (FMF)" in Riyadh (Saudi Arabia).
Rome, Slovakia President Peter Pellegrini on official visit meets with Prime Minister Giorgia Meloni (1030) and President Sergio Mattarella (1100 GMT).
Rome, National Institute for Public Policy Analysis (INAPP) President Natale Forlani presents 2024 report (1000 GMT); Labour Minister Marina Elvira Calderone expected to give speech.
Milan, Intesa Sanpaolo ISP.MI and business lobby Confindustria present renewed cooperation agreement "Investment, innovation, credit; the key factors for the sustainable growth of Italian companies" with CEO Carlo Messina (1000 GMT).
((Milan newsroom, e-mail: [email protected]))
For Italian market data and news, click on codes in
brackets:
20 biggest gainers (in percentage).............PG.MI
20 biggest losers (in percentage)..............PL.MI
FTSE IT allshare index .FTITLMS
FTSE Mib index........ .FTMIB
FTSE Allstars index... .FTSTAR
FTSE Mid Cap index.... .FTITMC
Block trades.......... .BLK.MI
Stories on Italy...... IT-LEN
For pan-European market data and news, click on codes in
brackets:
European Equities speed guide...................EUR/EQUITY
FTSEurofirst 300 index...............................FTEU3
DJ STOXX index.......................................STOXX
Top 10 STOXX sectors............................PGL.STOXXS
Top 10 EUROSTOXX sectors.......................PGL.STOXXES
Top 10 Eurofirst 300 sectors....................PGL.FTEU3S
Top 25 European pct gainers........................PG.PEUR
Top 25 European pct losers.........................PL.PEUR
Main stock markets:
Dow Jones................DJI Wall Street report ......N
Nikkei 225..............N225 Tokyo report.............T
FTSE 100................FTSE London report............L
Xetra DAX..............GDAXI Frankfurt market stories.F
CAC-40..................FCHI Paris market stories....PA
World Indices.....................................0#.INDEX
Reuters survey of world bourse outlook.........EQUITYPOLL1
Western European IPO diary..........................WEUIPO
European Asset Allocation........................EUR/ASSET
Reuters News at a Glance: Equities...............TOP/EQE
Main currency report:...............................FRX/
($1 = 0.9759 euros)
India launches probe to determine 'safeguard duty' on steel as imports surge
MUMBAI, Dec 20 (Reuters) - India has launched an investigation to consider if it should impose a safeguard duty or a temporary tax to curtail unbridled steel imports, according to a government notice on Friday.
The probe comes after Indian Steel Association, which represents top steelmakers such as ArcelorMittal Nippon Steel India Ltd, JSW Steel Ltd, Jindal Steel and Power, filed a petition to initiate an investigation concerning imports of "Non-Alloy and Alloy Steel Flat Products" into India.
India's finished steel imports from China reached an all-time high during the first eight months of the fiscal year to March 2025, according to provisional government data reviewed by Reuters on Friday, adding to concerns among domestic mills about cheap shipments from China.
"There is a recent, sudden, sharp and significant increase in the volume of imports, which has caused significant injury to the domestic industry in India," ISA said in its petition.
The Directorate General of Trade Remedies, an arm of the federal trade ministry, which launched the probe, in a notice dated Dec. 19 said there is sufficient evidence of "a recent, sudden, sharp and significant increase in imports" to start a safeguard investigation.
An influx of cheap Chinese steel has forced India's smaller mills to scale down operations and consider job cuts, as the South Asian nation joins a growing list of countries contemplating action to stem imports.
(Reporting by Neha Arora in New Delhi and Shanima A in Mumbai)
(([email protected]; (Direct: +91 72 5956 7774);))
MUMBAI, Dec 20 (Reuters) - India has launched an investigation to consider if it should impose a safeguard duty or a temporary tax to curtail unbridled steel imports, according to a government notice on Friday.
The probe comes after Indian Steel Association, which represents top steelmakers such as ArcelorMittal Nippon Steel India Ltd, JSW Steel Ltd, Jindal Steel and Power, filed a petition to initiate an investigation concerning imports of "Non-Alloy and Alloy Steel Flat Products" into India.
India's finished steel imports from China reached an all-time high during the first eight months of the fiscal year to March 2025, according to provisional government data reviewed by Reuters on Friday, adding to concerns among domestic mills about cheap shipments from China.
"There is a recent, sudden, sharp and significant increase in the volume of imports, which has caused significant injury to the domestic industry in India," ISA said in its petition.
The Directorate General of Trade Remedies, an arm of the federal trade ministry, which launched the probe, in a notice dated Dec. 19 said there is sufficient evidence of "a recent, sudden, sharp and significant increase in imports" to start a safeguard investigation.
An influx of cheap Chinese steel has forced India's smaller mills to scale down operations and consider job cuts, as the South Asian nation joins a growing list of countries contemplating action to stem imports.
(Reporting by Neha Arora in New Delhi and Shanima A in Mumbai)
(([email protected]; (Direct: +91 72 5956 7774);))
Interarch Building Products Enters Strategic Partnership With Jindal Steel & Power
Dec 18 (Reuters) - Interarch Building Products Ltd INEH.NS:
INTERARCH BUILDING PRODUCTS LTD - ENTERS STRATEGIC PARTNERSHIP WITH JINDAL STEEL & POWER
Source text: ID:nBSE1YGXch
Further company coverage: INEH.NS
(([email protected];))
Dec 18 (Reuters) - Interarch Building Products Ltd INEH.NS:
INTERARCH BUILDING PRODUCTS LTD - ENTERS STRATEGIC PARTNERSHIP WITH JINDAL STEEL & POWER
Source text: ID:nBSE1YGXch
Further company coverage: INEH.NS
(([email protected];))
India's JSW Steel, SAIL in talks with Mongolia for coking coal shipments, sources say
By Neha Arora
NEW DELHI, Nov 26 (Reuters) - India's JSW Steel JSTL.NS and state-run Steel Authority of India (SAIL) SAIL.NS are in talks with Mongolian authorities to import two shipments of coking coal, two sources with direct knowledge of the matter said.
JSW Steel, the country's biggest steelmaker by capacity, plans to buy 2,500 metric tons, while SAIL aims to import 75,000 metric tons of the steelmaking raw material from Mongolia, said the sources who requested anonymity as the plans are not public.
Both JSW Steel and SAIL would import Mongolian coking coal either via Russia or China, said the sources.
"We are just trying to understand how the logistics work," SAIL Chairman Amarendu Prakash told Reuters when asked if the company was looking to receive a shipment from Mongolia.
SAIL was exploring sourcing coking coal from Mongolia to diversify its suppliers, it said in an emailed statement to Reuters.
India, the world's second-largest producer of crude steel, meets 85% of its coking coal requirements through imports.
Late last year, erratic weather conditions hit coking coal supplies from Australia, which accounts for over half of India's coking coal imports of around 70 million metric tons a year.
Since then, Indian steel mills have been seeking to source coking coal from other countries.
Last month, a source said India was exploring ways to import regular supplies of Mongolian coking coal via Russia to reduce reliance on supplies through China.
Industry officials say landlocked but resource-rich Mongolia can offer superior grades of coking coal at relatively lower prices to India, which is witnessing strong steel demand driven by rapid economic growth and increasing infrastructure spending.
Mongolian coal is about $50 a metric ton cheaper than the Australian supplies, they said.
India's Jindal Steel and Power JNSP.NS is also keen to source coking coal from Mongolia, one of the sources said.
India's JSW Steel and Jindal Steel and Power didn't respond to Reuters emails for comment.
The Indian government is working to help steel companies diversify imports to avoid over-reliance on specific countries, commodities consultancy BigMint said.
India imported 29.4 million metric tons of coking coal during the first half of the fiscal year, up nearly 2% from a year earlier, the consultancy added.
(Reporting by Neha Arora; Editing by Mayank Bhardwaj and Christina Fincher)
(([email protected]; Twitter: @MayankBhardwaj9;))
By Neha Arora
NEW DELHI, Nov 26 (Reuters) - India's JSW Steel JSTL.NS and state-run Steel Authority of India (SAIL) SAIL.NS are in talks with Mongolian authorities to import two shipments of coking coal, two sources with direct knowledge of the matter said.
JSW Steel, the country's biggest steelmaker by capacity, plans to buy 2,500 metric tons, while SAIL aims to import 75,000 metric tons of the steelmaking raw material from Mongolia, said the sources who requested anonymity as the plans are not public.
Both JSW Steel and SAIL would import Mongolian coking coal either via Russia or China, said the sources.
"We are just trying to understand how the logistics work," SAIL Chairman Amarendu Prakash told Reuters when asked if the company was looking to receive a shipment from Mongolia.
SAIL was exploring sourcing coking coal from Mongolia to diversify its suppliers, it said in an emailed statement to Reuters.
India, the world's second-largest producer of crude steel, meets 85% of its coking coal requirements through imports.
Late last year, erratic weather conditions hit coking coal supplies from Australia, which accounts for over half of India's coking coal imports of around 70 million metric tons a year.
Since then, Indian steel mills have been seeking to source coking coal from other countries.
Last month, a source said India was exploring ways to import regular supplies of Mongolian coking coal via Russia to reduce reliance on supplies through China.
Industry officials say landlocked but resource-rich Mongolia can offer superior grades of coking coal at relatively lower prices to India, which is witnessing strong steel demand driven by rapid economic growth and increasing infrastructure spending.
Mongolian coal is about $50 a metric ton cheaper than the Australian supplies, they said.
India's Jindal Steel and Power JNSP.NS is also keen to source coking coal from Mongolia, one of the sources said.
India's JSW Steel and Jindal Steel and Power didn't respond to Reuters emails for comment.
The Indian government is working to help steel companies diversify imports to avoid over-reliance on specific countries, commodities consultancy BigMint said.
India imported 29.4 million metric tons of coking coal during the first half of the fiscal year, up nearly 2% from a year earlier, the consultancy added.
(Reporting by Neha Arora; Editing by Mayank Bhardwaj and Christina Fincher)
(([email protected]; Twitter: @MayankBhardwaj9;))
Jindal Steel And Power Q2 Consol Net Profit 8.61 Bln Rupees
Nov 6 (Reuters) - Jindal Steel And Power Ltd JNSP.NS:
Q2 CONSOL NET PROFIT 8.61 BILLION RUPEES
Q2 CONSOL TOTAL REVENUE FROM OPERATIONS 112.13 BILLION RUPEES
Source text: ID:nBSENQZbQ
Further company coverage: JNSP.NS
(([email protected];;))
Nov 6 (Reuters) - Jindal Steel And Power Ltd JNSP.NS:
Q2 CONSOL NET PROFIT 8.61 BILLION RUPEES
Q2 CONSOL TOTAL REVENUE FROM OPERATIONS 112.13 BILLION RUPEES
Source text: ID:nBSENQZbQ
Further company coverage: JNSP.NS
(([email protected];;))
Jindal Steel International To Acquire Czech Vitkovice Steel, CTK News Agency Reports
Oct 7 (Reuters) - Jindal Steel And Power Ltd JNSP.NS:
JINDAL STEEL INTERNATIONAL TO ACQUIRE CZECH VITKOVICE STEEL, SUBJECT TO REGULATORY APPROVAL - NEWS AGENCY CTK
Source text for Eikon: [ID:]
Further company coverage: JNSP.NS
Oct 7 (Reuters) - Jindal Steel And Power Ltd JNSP.NS:
JINDAL STEEL INTERNATIONAL TO ACQUIRE CZECH VITKOVICE STEEL, SUBJECT TO REGULATORY APPROVAL - NEWS AGENCY CTK
Source text for Eikon: [ID:]
Further company coverage: JNSP.NS
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What does Jindal Steel do?
Jindal Steel (formerly known as Jindal Steel & Power) is one of India’s fastest growing and largest integrated steel manufacturers, significantly present in steel, power generation and infrastructure segments and catering to a large part of India's domestic energy and infrastructure requirement. It is a leading player in the steel industry, renowned for its robust steel business. With cutting-edge manufacturing facilities, Jindal Steel offers a wide range of customised and standardised high-quality steel products from its integrated steel plants in India.
Who are the competitors of Jindal Steel?
Jindal Steel major competitors are Godawari Power & Isp, Jayaswal Neco Inds, Jai Balaji Inds, Suraj Products, Bihar Sponge Iron, KIC Metalik, Jainam Ferro Alloys. Market Cap of Jindal Steel is ₹1,08,889 Crs. While the median market cap of its peers are ₹275 Crs.
Is Jindal Steel financially stable compared to its competitors?
Jindal Steel seems to be less financially stable compared to its competitors. Altman Z score of Jindal Steel is 2.91 and is ranked 6 out of its 8 competitors.
Does Jindal Steel pay decent dividends?
The company seems to be paying a very low dividend. Investors need to see where the company is allocating its profits. Jindal Steel latest dividend payout ratio is 7.2% and 3yr average dividend payout ratio is 5.63%
How has Jindal Steel allocated its funds?
Companies resources are allocated to majorly unproductive assets like Capital Work in Progress
How strong is Jindal Steel balance sheet?
Balance sheet of Jindal Steel is strong. But short term working capital might become an issue for this company.
Is the profitablity of Jindal Steel improving?
No, profit is decreasing. The profit of Jindal Steel is ₹2,787 Crs for TTM, ₹2,812 Crs for Mar 2025 and ₹5,938 Crs for Mar 2024.
Is the debt of Jindal Steel increasing or decreasing?
Yes, The net debt of Jindal Steel is increasing. Latest net debt of Jindal Steel is ₹15,101 Crs as of Sep-25. This is greater than Mar-25 when it was ₹9,484 Crs.
Is Jindal Steel stock expensive?
Yes, Jindal Steel is expensive. Latest PE of Jindal Steel is 39.69, while 3 year average PE is 17.06. Also latest EV/EBITDA of Jindal Steel is 13.0 while 3yr average is 7.68.
Has the share price of Jindal Steel grown faster than its competition?
Jindal Steel has given better returns compared to its competitors. Jindal Steel has grown at ~29.16% over the last 4yrs while peers have grown at a median rate of 28.22%
Is the promoter bullish about Jindal Steel?
Promoters seem to be bullish about the company. Latest quarter promoter holding is 62.37% and last quarter promoter holding is 62.36%.
Are mutual funds buying/selling Jindal Steel?
The mutual fund holding of Jindal Steel is increasing. The current mutual fund holding in Jindal Steel is 13.87% while previous quarter holding is 13.33%.