Latest news with #JSPL
New Indian Express
24-05-2025
- Politics
- New Indian Express
Preserving the rich tribal legacy of Chhattisgarh
Chhattisgarh gets a reason to feel proud to have its first tribal museum in the new capital city, Naya Raipur. The state has around 31 percent tribal population with 42 tribal communities. Befittingly, tribal Chief Minister Vishnu Deo Sai inaugurated the museum, which preserves tribal traditions and culture. Spread across 10 acres, the museum will also try connecting the younger generation to their roots. The museum, with 14 galleries based on various themes, depicts the lifestyles, costumes, folk art, customs and religious beliefs of Chattisgarh's tribal communities through visual and digital media. JSPL staff chip in to help those hit by Pak conflict Arbitrary shelling by the Pakistan Army across the J&K border has devastated several villages, claiming innocent lives and pushing thousands of civilians in the border areas towards a humanitarian crisis. In response, employees of Jindal Steel and Power Ltd in Chhattisgarh and other states, inspired by a call from the company chairman, Naveen Jindal, have pledged to contribute one day's salary towards rehabilitating the affected families. This act reflects an effort to support those living through turmoil in the border regions. Over 20,000 JSPL employees have taken a pledge to transform individual gestures into a unified national commitment. Bringing joy to those who are less fortunate A novel initiative built around the simple yet powerful idea of fulfilling the wishes of underprivileged children aged 3 to 10 from 25 villages by over 300 employees of Bharat Aluminium Company Limited (Balco), India's iconic aluminium producer. The Wish Tree Campaign brought to life the heartfelt wishes of children from underprivileged backgrounds, with Balco's employees stepping up as volunteers. These children expressed simple desires, ranging from pencil boxes, clothing and schoolbags to shoes and other necessities. After collecting over 500 such wishes, the employees selected, purchased or gifted the items to the children. Ejaz Kaiser Our correspondent in Chhattisgarh ejaz@
Economic Times
15-05-2025
- Business
- Economic Times
Stock Radar: JSPL stock breaks above 16-week consolidation in May 2025; check target, stop loss for long positions
Jindal Steel & Power Ltd (JSPL), part of the metal industry, broke out from 16-week consolidation in May 2025 which has opened room for the stock to head higher and might hit fresh record highs if the momentum term traders can look to buy the stock for a target of Rs 1,160 in the next 2-4 months, suggest metal stock hit a high of Rs 1,097 on June 21, 2024, but it failed to hold the momentum. It closed at Rs
Mint
14-05-2025
- Business
- Mint
Tata Steel, SAIL, JSPL, JSW Steel rise up to 4% after THIS India's snub to US at WTO
Stock Market Today: Tata Steel, SAIL, JSPL, JSW Steel share prices gained up to slightly more than 4% in the morning trades on Wednesday. Tata Steel share price that opened at ₹ 151.20 on the BSE on Wednesday, slightly higher than the previous days closing price of ₹ 149.50, continued to rise further. The Tata Steel share price rose to intraday high of ₹ 157.15, which translated in gains of around 4.5% for the Tata Steel share price. SAIL or Steel Authority of India Ltd share price also after opening slightly higher at ₹ 116.85, compared to previous close of ₹ 116.05 , gained further. The SAIL share price gained up to ₹ 120.75 during the intraday trades and this meant rise of up to 4%. Jindal Steel and Power Ltd or JSPL share price and JSW steel share price also gained up to 2-3% during the morning trades on Wednesday. Tata Steel share price led the gains for the Nifty Metal Index that also saw intraday highs of 9,085.05, which meant gains of 2.8% for the metals index. Nifty metals index while was rising led by contribution from steel stocks most other metal stocks including those of NALCO and Hindalco Industries Ltd, too gained up to more than 4% The rise in steel and other metal stocks while is attributed to positive developments on the US China Tariff talks , India also has taken a firm stand on the Tariffs imposed by the US on metal imports from India According to a PTI report, India has proposed to impose retaliatory taxes on the United States in response to President Donald Trump's steel and aluminum tariffs, and it has submitted this plan to the World Trade Organization (WTO). The news reports suggest that the safeguards measures would have an impact on $7.6 billion worth of relevant product imports from India into the US, with $1.91 billion in duty revenue collected. India as per news reports argues that the US's actions are in violation of the 1994 General Agreement on Trade and Tariffs (GATT) and the Agreement on Safeguards (AoS) and also that India reserves the right to suspend concessions or other obligations that are substantially equivalent to the adverse effects of the measure to India's trade Meanwhile as India and the US are still to resolve the abovesaid issue on tariff, the positive developments in China -US trade talks is encouraging. China is the largest producer and consumer of commodities and thereby influences the international prices of commodities. Hence resolution and positive developments on US -China tariff discussions is a big positive for Steel and metal producers in India too Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.
Hindustan Times
04-05-2025
- Business
- Hindustan Times
Reversal for the reforms process
The Supreme Court's decision to reject Jindal Steel Private Limited's (JSPL) 2021 takeover of Bhushan Steel Private Limited (BSPL) on procedural grounds and order the latter's liquidation should set alarm bells. BSPL's resolution was one of the biggest under the Insolvency and Bankruptcy Code (IBC), one of India's most important economic reforms under the first Narendra Modi government. The court, while rejecting the acquisition, has accused both JSPL and the Committee of Creditors of violating IBC's guidelines. The fact that this judgment has come after years of JSPL's acquisition — the company has invested money in the project and got it running — sets a bad precedent for the credibility of the IBC itself. Some of the dispute or delay which led to the annulment of the resolution, it would appear, was the result of the Enforcement Directorate claiming a part of the assets. The claim was withdrawn only last year. The court's order, unless it is reversed by a larger bench, threatens to jeopardise not just JSPL's investments but also the recoveries made by BSPL's creditors, most of which are public sector banks. This can have a chilling effect on any ongoing and future IBC resolution processes. To be sure, if there were indeed serious violations, as the court order says, then it raises an even bigger question. Is the IBC plagued with the same problems of poor judgment, bad faith or just plain malfeasance by both corporates and banks that played a big role in the making of the bad loan crisis in the last decade? Or is the ruling the result of a dogmatic adherence to statutes which can force banks to take even bigger haircuts via liquidation route than what a seemingly sub-par IBC resolution can offer? Should the government also have restrained its investigative agencies whose misplaced zeal to punish criminality has ended up derailing one of the biggest success stories in India's IBC framework? These questions might seem esoteric, but they are central to the future of the IBC framework in India. A modern economy, sans a functional and credible bankruptcy framework, is like a patient who will always have to opt for amputation (liquidation) when a surgery (bankruptcy resolution) could have helped. Irrespective of whether or not the judgment is overturned, all stakeholders should ensure that such setbacks do not happen again. While transparency and consistency in the IBC's functioning are a must to ensure this, the elephant in the room is whether government banks are still truly autonomous in their decision-making.
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Business Standard
30-04-2025
- Business
- Business Standard
Jindal Steel Q4 results: ₹304 crore loss despite higher sales
Jindal Steel and Power Ltd (JSPL) on Wednesday reported a consolidated loss of Rs 304 crore for the March quarter of 2024-25. It had posted a net profit of Rs 933 crore in the January-March period of 2023-24, the company said in a statement. The company's gross revenue fell to Rs 15,525 crore from Rs 15,749 crore in the year-ago quarter. The company produced 2.11 million tonnes of steel, up from 2.05 million tonnes in the fourth quarter last financial year. Sales rose to 2.13 million tonnes from 2.01 million tonnes in the same quarter FY24. The Board of Directors also recommended a final dividend of 200 per cent i.e., Rs 2/share for the year, subject to approval of shareholders. Consolidated net debt declined to Rs 11,957 crore as of March 2025 from Rs 13,551 crore as of the end of December 2024. The total capex for the quarter was Rs 2,312 crore largely driven by the expansion projects at Angul. Part of OP Jindal Group, JSPL has a presence in steel, power and mining sectors.
