JSWHL

Oct 25 (Reuters) - JSW Holdings Ltd JNSW.NS:

• JSW HOLDINGS SEPT-QUARTER CONSOL PROFIT 1.2 BILLION RUPEES

• JSW HOLDINGS SEPT-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 1.62 BILLION RUPEES

Source text for Eikon: ID:nNSE7c7s0d

Further company coverage: JNSW.NS

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Dec 1 (Reuters) - JSW Holdings Ltd JNSW.NS:

• CO NOT A PART OF DISCUSSION ON JSW GROUP HOLDING 35% STAKE IN MG MOTOR INDIA

Source text for Eikon: ID:nBSE9g7lGJ

Further company coverage: JNSW.NS

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Oct 9 (Reuters) - JSW Holdings Ltd JNSW.NS:

• NOT IN ANY DISCUSSION AS REFERRED TO IN NEWS ITEM 'SAJJAN JINDAL, SAIC SET TO DRIVE MG MOTOR IN INDIA'

• NO PROPOSAL PLACED FOR DISCUSSION OF BOARD OR ANY OF ITS COMMITTEES

Source text for Eikon: ID:nBSE7K0jyr

Further company coverage: JNSW.NS

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** Shares of HeidelbergCement India HEID.NS rise as much as 4.9% to 187.75 rupees, highest since June 6

** JSW Cement JSWC.NS is in initial talks with German Heidelberg Materials AG HEIG.DE to acquire HEIG's cement business in India, Economic Times reported on Tuesday, citing sources aware of the talks

** HEIG yet to take a final call on India exit strategy and sources say it may decide to opt for a bidding process, report adds

** JSWC and HEIG did not immediately respond to Reuters' requests for comment

** Over 410,000 shares change hands as of 9:28 a.m. IST, 0.9X the 30-day moving average

** Mean rating of 12 analysts is "hold"; median PT is 195 rupees - LSEG data

** Stock last up 2.7%, trimming YTD loss to 2%

(Reporting by Varun Vyas in Bengaluru)

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BENGALURU, May 10 (Reuters) - China's SAIC Motor 600104.SS plans to drop its ownership in MG Motor India to allow domestic entities to take a majority stake, the Indian electric vehicle maker said on Wednesday, as Chinese investments face increased scrutiny by the New Delhi government.

MG also plans to invest more than 50 billion rupees ($611.4 million) to build a second plant in India amid a slew of other proposals, including exploring cell manufacturing, with the aim that at least 65% of its sales comprise of EVs from 2026.

While MG did not detail how or when SAIC would start lowering its stake, local media quoted MG managing director, Rajeev Chaba, saying the first step will be announced this year, with the aim to be majority owned by Indians in 2-4 years.

Two weeks back, local media reported that JSW Holdings Ltd JNSW.NS, the financial arm of Indian conglomerate JSW Group, was in talks to buy a stake in MG. JSW denied the report.

MG did not immediately respond to a request for comment.

MG entered India in 2019 with plans to invest about $650 million. But New Delhi has sought to limit investments from Beijing after a 2020 clash between soldiers from the two countries on their disputed Himalayan border.

Last November, the government asked MG to explain why it posted a loss in 2019-2020, its first year of operations.

Nonetheless, MG, last month, launched its second electric offering and India's lowest-priced EV – the Comet EV – as it seeks to take on local market leader Tata Motors TAMO.NS.

It now plans to launch four to five new vehicles, mostly electric.

MG also said it would look to turn profitable by 2025 and raised its annual sales target to 100,000 units from 80,000 earlier.

The company has a manufacturing facility in the western Indian state of Gujarat, with an annual production capacity of 125,000 vehicles.

($1 = 81.7800 Indian rupees)

(Reporting by Nandan Mandayam in Bengaluru; Editing by Savio D'Souza)

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** Shares of JSW Holdings Ltd JNSW.NS down 3.4% after refuting reports of a planned stake buy in MG Motor India and BYD India

** Core investment company confirmed "no such proposal has been placed for discussion"

** Stock had soared 13% on Tuesday after multiple reports said it intended to pick up stakes in the Indian units of MG Motor and BYD

** Reports said co eyed 15%-20% stake in MG Motor for 20 bln rupees ($244.13 mln) to 30 bln rupees

** Trading volume at ~2,000 shares as of 10:25 a.m. IST, only slightly above 30-day avg

** Up to last close, stock was up 2.7% so far this year

(Reporting by Biplob Kumar Das in Bengaluru)

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Adds response from MG Motor

** Shares of JSW Holdings Ltd JNSW.NS surge as much as 20% to a 19-month high of 4,750.55 rupees

** Shares ended up 13.1%, snapping three straight sessions of losses

** Sharp uptick in the stock of non-banking financial company that forms the investment arm of the JSW Group comes on reports that the conglomerate is in talks with MG Motor India and BYD India to pick up stake in the companies

** MG Motor is owned by China's largest car company, Shanghai Automotive

** JSW Group eyes 15%-20% stake in MG Motor for 20 bln rupees ($244.13 mln) to 30 bln rupees, according to reports, citing sources close to the discussions

** "We do not comment on speculation," MG Motor India said, while JSW Group and BYD India did not immediately respond to Reuters' request for comment

** Trading volume on JNSW surged to 24,364 shares, nearly 40 times the 30-day avg of 613 shares - Refinitiv data

($1 = 81.9230 Indian rupees)

(Reporting by Bharath Rajeswaran in Bengaluru)

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