Jindal Steel

Jindal Steel scheduled analyst and institutional-investor meetings in Mumbai for August 12 and 13, 2026. The August 12 programme at Emkay Confluence 2026 comprised one-on-one and group meetings, while the August 13 programme was a one-on-one meeting with Life Insurance Corporation of India. The steel producer had 15.6 MTPA of capacity, with value-added products accounting for about 66% of sales. In the June quarter, it reported consolidated revenue of ₹15,482 crore and adjusted EBITDA of ₹2,667 crore.

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By Neha Arora and Jatindra Dash

NEW DELHI, Aug 4 (Reuters) - India's top iron ore producing state of Odisha has warned steelmakers and miners of strict action over alleged grade manipulation and misdeclaration, according to documents reviewed by Reuters and three sources, a crackdown that analysts say could tighten domestic iron ore supplies.

India, the world's second-largest crude steel producer after China, is expected to produce 340 million to 345 million metric tons of iron ore, the key raw material used in steelmaking, in 2026-27, up from about 316 million tons a year earlier, commodities consultancy BigMint said.

Any disruption to supplies from resource-rich Odisha could scupper those production targets.

The warning follows inspections that "revealed a consistent grade manipulation by the lessees," which include major steel producers, resulting in a "substantial loss" of state revenues, according to a July 6 government document reviewed by Reuters.

The companies named in the July 6 letter included JSW Steel JSTL.NS, Tata Steel TISC.NS, state-run Steel Authority of India (SAIL) SAIL.NS, Jindal Steel JINT.NS and ArcelorMittal Nippon Steel India.

A Tata Steel spokesperson denied any discrepancies, saying it pays royalties as per prescribed norms and that most of its iron ore dispatches are in the highest royalty grade.

JSW declined to comment. SAIL and Jindal Steel did not respond to Reuters' emails seeking comment. Odisha's Directorate of Mines and Geology also did not respond to requests for comment.

Government officials met steel and mining associations and company executives last month to discuss the findings, according to July 13 meeting minutes and a source familiar with the matter.

"Any deliberate grade manipulation, misdeclaration or suppression of mineral value affecting government revenue shall be viewed very seriously and strictly dealt with," the meeting minutes showed.

Odisha's steel and mines department directed lessees to revise mining plans and seek approval from the Indian Bureau of Mines where actual ore grades differ from approved grades, according to the minutes.

Analysts say stricter inspections are already affecting lower grade ore availability.

Offers for lower grade ore have become limited in the merchant market over the past month because of intensified inspections by Odisha authorities, BigMint said.

"Since Odisha is the largest producer of iron ore in the country, if the issue escalates, it might impact the overall availability of iron ore in the country," said B.K. Bhatia, a mining expert and former director general of the Federation of Indian Mineral Industries.

Industry representatives disputed the state's allegations.

"Industry has raised concerns that the grades extracted are as per the geology and that is not under anyone's control," one industry representative said, declining to be identified because they were not authorised to speak to the media.

(Reporting by Neha Arora in New Delhi and Jatindra Dash in Bhubaneswar; Additional reporting by Arpan Chaturvedi in New Delhi; Editing by Mayank Bhardwaj and Saad Sayeed)

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** Shares of India's Jindal Steel JINT.NS rise 2.44% to 1061.10 rupees

** Stock on track to snap three session of losses if gains hold

** Co's Q1 profit fell 43.5% y/y while total revenue from operations rose about 26% year-on-year

** Emkay Global ("Buy", TP:1,400 rupees) says stronger steel prices and richer product mix offset planned maintenance-led volume weakness, while higher capacity utilization and value-added products should support earnings growth

** BOB Capital (TP: 1,322 rupees) raises rating to "buy" from "hold", saying expanded capacity should drive strong volume growth despite near-term pricing challenges

** YTD stock 14.23%

(Reporting by Surbhi Misra in Bengaluru)

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Jindal Steel Limited's board on July 24 approved the unaudited financial results for the first quarter ended June 30, 2026, and announced sweeping changes to its senior leadership. The company appointed Vidya Rattan Sharma as Additional Director and Managing Director, a role he previously held from 2019 to 2022. Sandeep Modi, formerly CFO of Hindustan Zinc, was named Chief Financial Officer, replacing interim CFO Sunil Agrawal, who will continue to oversee the finance function. Rajiv Kumar, ex-CEO of Vedanta Aluminium, joined as Chief Operating Officer, and Sukhjit S. Pasricha was appointed Head of Human Resources. The board also appointed S S Kothari Mehta & Co. LLP as statutory auditors, subject to shareholder approval, following the completion of the term of Lodha & Co. LLP. The leadership overhaul comes as the company reported a consolidated net profit of ₹844 crore for Q1, down from ₹1,496 crore a year earlier.

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Jindal Steel Limited's board appointed Vidya Rattan Sharma as its new managing director, effective 24 July 2026. Mr. Sharma previously led the company from 2019 to 2022 and brings four decades of experience in steel and power. The board also named Sandeep Modi as chief financial officer, replacing Sunil Agrawal who held the post on an interim basis and will continue overseeing the finance function. Rajiv Kumar was appointed chief operating officer and Sukhjit S. Pasricha as head of human resources. Separately, the company reported first-quarter consolidated adjusted EBITDA of ₹2,667 crore and net profit of ₹844 crore, with revenue from operations of ₹15,501 crore.

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July 24 (Reuters) - Jindal Steel Ltd JINT.NS:

• JINDAL STEEL Q1 CONSOL NET PROFIT 8.45 BILLION RUPEES

• JINDAL STEEL Q1 CONSOL TOTAL REVENUE FROM OPERATIONS 154.82 BILLION RUPEES

Source text: [ID:]

Further company coverage: JINT.NS

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Jindal Steel announced that Gautam Malhotra, its Chief Executive Officer, resigned effective from the close of business on July 15, 2026. Malhotra cited personal commitments in his resignation letter. The company said he will ensure a smooth handover of his responsibilities.

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** Shares of Jindal Steel JINT.NS rise 0.8% to 1,052.40 rupees, and Jindal Stainless JIST.NS gains 1% to 698.55 rupees

** Systematix Institutional Equities initiates coverage on both Jindal Steel and Jindal Stainless with "buy" ratings

** Brokerage says both companies are well positioned to benefit from rising domestic demand, backed by integrated operations, capacity expansion, and a growing value-added product mix

** Both Jindal Steel and Jindal Stainless have an average analyst rating of "Buy"; median price targets are 1,321.50 rupees and 853.50 rupees, respectively - data compiled by LSEG

** Jindal Steel’s stock up 0.9% YTD up to last close, Jindal Stainless’s stock down 15.5% YTD up to last close

(Reporting by Payel Das in Bengaluru)

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June 26 - India's trade remedies body has initiated an anti-dumping investigation into hot rolled steel from China, Japan and Russia, according to a government notification.

• The Directorate General of Trade Remedies, under the federal trade ministry, in a notification dated Thursday, said domestic producers JSW Steel, JSW Vijaynagar Metallics Limited and Jindal Steel Odisha had requested the investigation.

• The companies alleged that imports from China, Russia and Japan at dumped prices were hurting the domestic industry and would likely continue to cause harm.

• The probe covers hot rolled flat products of alloy or non-alloy steel of up to 25mm thickness, the notification said.

• Reuters reported earlier this month that China's finished steel exports to India more than doubled in April to ‌the highest in at least two years.

• China shipped in around 232,000 metric ​tons of finished steel in April and emerged as the top exporter of such steel to ​the South Asian nation, provisional data reviewed by Reuters showed.

• Buyers are lured by Chinese steel that is cheaper anywhere between $11 and $37 per ton of hot-rolled steel compared with local prices.

(writing by Shilpa Jamkhandikar, Editing by Louise Heavens)

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** Shares of India's Jindal Steel JINT.NS jump as much as 4.56% to 1,278.90 rupees; last up 3.18%

** Steelmaker's Q4 consolidated revenue from operations rises 23% y/y to 162.18 billion rupees ($1.71 billion), helped by ramp-up of new capacities

** Co swings to a profit of 10.45 billion rupees vs loss year-ago

** Fourth-quarter steel production rises ~25.6% y/y, sales volumes grow ~23%

** Prabhudas Lilladher raises PT by 24 rupees to 1,289 rupees; cuts FY27 EBITDA estimates by 2% and raises FY28 by 3%, citing near-term margin pressure during capacity ramp-up

** Brokerage expects EBITDA to grow over 40% annually from FY26

** YTD, stock up ~20.5%

($1 = 94.8425 Indian rupees)

(Reporting by Bipasha Dey in Bengaluru)

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May 1 (Reuters) - Jindal Steel Ltd JINT.NS:

• JINDAL STEEL Q4 CONSOL NET PROFIT 10.45 BILLION RUPEES

• JINDAL STEEL Q4 CONSOL TOTAL REVENUE FROM OPERATIONS 162.18 BILLION RUPEES

• JINDAL STEEL LTD- DIVIDEND OF 2 RUPEES PER SHARE

Further company coverage: JINT.NS

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Repeats for wider distribution

By Christoph Steitz and Neha Arora

FRANKFURT/NEW DELHI, March 25 (Reuters) - Discussions of a possible sale of Thyssenkrupp's TKAG.DE steel unit to Jindal Steel International could be called off due to differences over pension liabilities, investments and energy costs, four people familiar with the matter said.

While talks over a sale of Thyssenkrupp Steel Europe (TKSE) are ongoing and could still result in an agreement, a deal is now seen as less likely after nearly six months of due diligence and discussions, the people said.

The companies could decide to officially stop negotiations as soon as next month, one of the people said.

Thyssenkrupp has tried to sell TKSE several times in the past decades, pursuing everything from listings to spinoffs and joint ventures to outright sales of the cyclical high-cost business.

Failure to sell TKSE would mean a setback for the plan by Thyssenkrupp CEO Miguel Lopez to turn the storied German engineering group into a holding by divesting stakes in all of its business divisions ranging from car parts to clean-tech.

Among the factors complicating talks are 2.4 billion euros ($2.8 billion) of pension liabilities tied to TKSE, which has been a hurdle in past sales efforts, as well as differing ideas over how much future investment is needed, the people said.

In addition, there has been growing unease at Jindal Steel International over rising energy costs in Europe, the second source said. Energy costs in Europe were already higher than in the United States and Asia, and they have soared further as a result of the Iran war.

Thyssenkrupp said on Wednesday confidential talks with Jindal Steel International and labour representatives continued, adding that matters of valuation, obligations and future investments would need to be agreed between the parties.

Jindal Steel International, the international steel arm of the Naveen Jindal Group, had no immediate comment.

Earlier this month, Lopez said the group would continue with TKSE's restructuring "with or without Jindal," while Thyssenkrupp's deputy supervisory board chairman, Juergen Kerner, last week said talks had stalled.

Lopez has also said that planned EU measures to protect the bloc's underperforming steel sector had boosted investor sentiment and strengthened Thyssenkrupp's position in negotiations.

Jindal Steel International in September made an indicative offer for TKSE that includes the completion of a green steel production site in Duisburg and a more than 2 billion-euro ($2.31 billion) commitment to establish additional electric arc furnace capacity.

($1 = 0.8622 euro)

(Reporting by Christoph Steitz in Frankfurt and Neha Arora in New Delhi;
Editing by Matthew Lewis)

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March 24 (Reuters) - Jindal Steel Ltd JINT.NS:

• JINDAL STEEL LTD - COMPLETES 6 MTPA EXPANSION AT ANGUL, CAPACITY NOW 12 MTPA

Source text: ID:nBSE9cMYS3

Further company coverage: JINT.NS

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Adds Jindal Steel International comment in paragraph 7

FRANKFURT, March 20 (Reuters) - Talks to sell Thyssenkrupp's TKAG.DE steel division to India's Jindal Steel International are not making progress and the long-awaited deal must not be stalled for months, the German company's deputy supervisory board chairman said on Friday.

Juergen Kerner, who is also the deputy head of Germany's IG Metall trade union, said labour representatives had presented Jindal, which has been doing due diligence on Thyssenkrupp's steel unit, also known as TKSE, since October, with a detailed questionnaire.

WORKERS LEFT IN LIMBO

"We were promised answers, but these have subsequently been postponed several times. Apparently, the discussions between Thyssenkrupp AG and Jindal are taking longer than expected," Kerner said in a statement.

"So things are not moving forward, and that is a bad thing," Kerner said because workers could not "afford to be left in limbo for months".

In September, Jindal made a non-binding bid for TKSE, Europe's No. 2 steelmaker, creating a new opportunity for parent Thyssenkrupp to part with a volatile business that it has sought to sell for years.

A Thyssenkrupp spokesperson said talks with Jindal Steel were ongoing, also referring to comments by CEO Miguel Lopez last week, who said that discussions covered valuation and future investments and that TKSE would be made fit for the future, with or without Jindal.

A spokesperson for Jindal Steel International said it remained in discussions with Thyssenkrupp and was convinced its "industrial concept for Thyssenkrupp Steel offers a clear vision for low-emission and competitive steel production in Germany".

Kerner's comments were first reported by German newspaper Rheinische Post.

Earlier this month, Flacks Group, a U.S. investor in distressed assets, signalled it could step in as potential buyer of TKSE if current talks fall through.

Lopez said in February that planned EU measures to protect the bloc's struggling steel sector have boosted investor sentiment and strengthened Thyssenkrupp's position in the talks with Jindal.

A solution for TKSE, which is closely tied to Germany's industrial history, is seen as the centrepiece of the CEO's strategy to turn the sprawling group into a holding.

(Reporting by Christoph Steitz, writing by Ludwig Burger, editing by Thomas Seythal and Tomasz Janowski)

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March 11 (Reuters) - Jindal Steel Ltd JINT.NS:

• DECLARED PREFERRED BIDDER FOR THAKURANI-A1 IRON ORE BLOCK IN ODISHA

Source text: ID:nBSE98mRpY

Further company coverage: JINT.NS

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Adds details on TKSE, Flacks in paragraphs 2-4, updates shares in paragraph 5, Thyssenkrupp comment in paragraph 6

By Andres Gonzalez

LONDON, March 5 (Reuters) - U.S. investment fund Flacks Group would be ready to bid for the steel division of Germany's Thyssenkrupp TKAG.DE should current efforts to sell it fail, its CEO Michael Flacks told Reuters on Thursday.

Thyssenkrupp has been in talks with Jindal Steel International about a possible sale of Thyssenkrupp Steel Europe (TKSE) since autumn, discussions that are yet to result in a firm bid for the business.

Flacks Group, which describes itself as one of the leading investors in distressed assets and special situations worldwide, was picked in December by Italy for exclusive talks on the sale of bailed-out steel company Acciaierie d'Italia.

"Our main interest is now in Italy, but we are interested in major steel companies, and if the talks regarding an acquisition of Thyssenkrupp's steel business fail, we are ready to bid for it," Flacks said.

Shares in Thyssenkrupp turned positive on the news and were up as much as 2.2%.

Flacks told the FT last month that he was also interested in acquiring British Steel.

A Thyssenkrupp spokesperson said the restructuring of TKSE, which includes the cutting or outsourcing of up to 11,000 jobs, had boosted the division's attractiveness, and that the company was in constructive talks with Jindal Steel International.

(Reporting by Andres Gonzalez; Additional reporting by Christoph Steitz; Editing by Toby Chopra, Jane Merriman and Jan Harvey)

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FRANKFURT, Feb 12 (Reuters) - Thyssenkrupp TKAG.DE on Thursday unveiled 401 million euros ($477 million) in expenses to fund far-reaching job cuts at its steel division, as the German industrial conglomerate continues talks with India's Jindal Steel over a sale of the business.

As a result of the charges, Thyssenkrupp's first-quarter net loss widened to 353 million euros. Analysts polled by LSEG had, on average, expected a net profit of 32 million euros for the period.

($1 = 0.8411 euros)

(Reporting by Christoph Steitz. Editing by Jane Merriman)

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Adds TKSE CEO comment in paragraph 4, Vallourec reaction in paragraphs 7-8

By Christoph Steitz and Tom Käckenhoff

FRANKFURT/DUESSELDORF, Feb 6 (Reuters) - Germany's Salzgitter SZGG.DE on Friday said it planned to buy out the co-owners of steel joint venture HKM to become the company's sole owner from mid-2026, potentially ending a dispute with Thyssenkrupp over the future of the ailing business.

A solution around HKM, owned by Salzgitter, Thyssenkrupp Steel Europe (TKSE) and France's Vallourec VLLP.PA in a 50-30-20 split, could end years of uncertainty over the struggling company that employs 3,000 staff.

It could also remove a hurdle in Thyssenkrupp's ongoing talks to sell TKSE to India's Jindal Steel International, with HKM's fate being one of the unsolved issues after the group came under pressure from cheaper rivals and weakening demand.

"The agreement represents an important milestone...setting Thyssenkrupp Steel on an even keel as we move into the future," TKSE CEO Marie Jaroni said.

Under the plans, Salzgitter would buy the stakes of its co-owners for an undisclosed sum and continue as HKM's sole owner from June, while also severing HKM's supply ties with TKSE in 2028, four years earlier than currently planned.

In a joint statement, Thyssenkrupp TKAG.DE and Salzgitter - Germany's two biggest steelmakers - said the agreement depended on a positive assessment of HKM's future commissioned by Salzgitter, as well as Vallourec agreeing to sell its stake.

French steel tubes maker Vallourec said in a statement it was open to selling its stake in HKM, adding its strategy no longer required participation in the joint venture.

"Vallourec views the agreement reached between (Thyssenkrupp and Salzgitter) as an important step towards a potential divestment. Vallourec will thoroughly analyse the terms of the agreement in the coming days."

(Reporting by Christoph Steitz and Tom Kaeckenhoff, Editing by Linda Pasquini, Kirsten Donova)

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Jan 30 (Reuters) - thyssenkrupp AG TKAG.DE:

• THYSSENKRUPP CEO: WE ARE CURRENTLY IN TALKS TO SUPPLY JINDAL STEEL INTERNATIONAL'S VITKOVICE STEEL

• THYSSENKRUPP CFO: APEX EFFICIENCY PROGRAMME HAS A POSITIVE MID-TRIPLE DIGIT MILLION EUR IMPACT ON RESULTS

• THYSSENKRUPP CFO: NO PLANS FOR SHARE BUYBACK

Further company coverage: TKAG.DE

(Frankfurt newsroom)

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BERLIN, Jan 26 (Reuters) - Global trade is being severely disrupted by military conflicts and a trade war launched by the United States, creating a new normal for businesses in the form of uncertainty, not stability, according to German industrial firm Thyssenkrupp on Monday.

"We are witnessing the demise of the rules-based order of the past decades," the company's Supervisory Board Chairman Siegfried Russwurm said in a speech released ahead of the group's annual general meeting scheduled for January 30.

"These new conditions confront business constantly with new political interventions without imparting any reliable economic stimulus. If one thing has emerged as the current 'new normal,' it is the lack of stability in our commercial conditions, which is attributable to political factors."

(Reporting by Christoph Steitz; editing by Matthias Williams)

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By Christoph Steitz, Tom Käckenhoff and Neha Arora

FRANKFURT/DUESSELDORF/NEW DELHI, Jan 7 (Reuters) - Germany's Thyssenkrupp TKAG.DE could sell its steel division to India's Jindal Steel International in several steps, four people familiar with the talks said, as the two sides try to strike a deal for the complex business.

Jindal Steel has been conducting due diligence on Thyssenkrupp Steel Europe (TKSE) since October after making an indicative bid for Europe’s second-largest steelmaker. The deal is key for Thyssenkrupp as the submarines-to-car parts group seeks to become leaner and more focused.

One option under discussion would see Jindal take a majority stake in TKSE, likely 60%, in a first step, with the remaining 40% acquired later in two 20% tranches or in one go, depending on progress in restructuring, the people said.

A phased transaction would give Thyssenkrupp more flexibility to address about 2.5 billion euros ($2.9 billion) in pension liabilities tied to TKSE - a major hurdle in previous sale attempts, one of the people said.

Details of how a gradual takeover could be structured and its impact on debt obligations have not previously been reported. Due diligence is ongoing and terms could still change, the people said.

JINDAL STEEL DELEGATION SET FOR JANUARY VISIT TO GERMANY

A sale of TKSE would end years of efforts to find a buyer for an asset that, while central to Germany's industrial heritage, has been volatile and costly to run amid tougher Asian competition.

For Jindal Steel International, the international steel arm of the Naveen Jindal Group, it would mark a major expansion into Europe after buying smaller Czech peer Vitkovice Steel in 2024.

Thyssenkrupp said in a statement that all aspects of the transaction - including valuation, obligations and future investments - would be discussed during due diligence and any contract talks.

"We cannot comment on individual statements, which at this stage can only represent an interim status," it said.

Jindal Steel International had no immediate comment.

A second source said a Jindal delegation was scheduled to visit Germany in January for a technical review of TKSE's Duisburg plant, after a planned December trip was postponed.

A phased takeover would also keep Thyssenkrupp involved in TKSE's restructuring, a third source said.

Thyssenkrupp CEO Miguel Lopez said last month that Jindal Steel was an optimal fit for TKSE, adding that a sweeping restructuring plan to cut jobs and capacity had prompted the Indian group's interest.

Lopez said Thyssenkrupp still had a plan B if talks with Jindal Steel International fail, without giving details.

($1 = 0.8538 euros)

(Reporting by Christoph Steitz, Tom Kaeckenhoff and Neha Arora. Additional reporting by Aditya Kalra. Editing by Adam Jourdan and Mark Potter)

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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)

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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

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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)

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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)

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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)

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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)

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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)

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Oct 28 (Reuters) - Jindal Steel Ltd JINT.NS:

• APPROVED APPOINTMENT OF GAUTAM MALHOTRA AS CHIEF EXECUTIVE OFFICER

• SEPT-QUARTER CONSOL NET PROFIT 6.38 BILLION RUPEES

• SEPT-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 116.86 BILLION RUPEES

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