Latest news with #JindalStainless
Mint
a day ago
- Business
- Mint
Stocks to buy: Axis Securities recommends three shares amid rally in Indian stock market
Stock market today: Indian benchmark indices, Sensex and Nifty, extended their gains for a fourth straight session on Monday, buoyed by upbeat U.S. employment data, positive developments in India-U.S. trade negotiations, and supportive policy signals from the Reserve Bank of India. At around 9:19 am, the BSE Sensex advanced by 423 points (0.52%) to reach 82,618, while the Nifty50 rose 130 points (0.52%) to 24,132. On Friday, both indices jumped by almost 1% following the RBI's unexpected move to cut the repo rate by 50 basis points and lower the cash reserve ratio (CRR) for banks by 100 basis points, indicating a more aggressive monetary effort to boost economic growth. " The Nifty ended above 25000 on Friday, as sentiment was boosted by RBI's actions that included a larger-than-expected 50 bps cut to the repo rate and a 100 bps cut to the cash reserve ratio (CRR). Technically speaking, Friday's jump was able to negate the prior day's somewhat "weak" close, and earlier, the test of 24672, which we had mentioned, held successfully. Getting past 25116 is the only thing that bulls need to do from hereon, and a break of 25260 will open the doors toward 25800 based on the pennant that seems to be complete. For the day, resistance and support lie at 25120 and 24820 respectively. Asian equities are a tailwind for today," said Akshay Chinchalkar, Head of Research, Axis Securities. Brokerage firm Axis Securities has recommended three stocks to buy this week with upside potential up to 15 per cent - Jindal Stainless, Minda Corporation, and Oberoi Realty. 1] Jindal Stainless: Buy at ₹ 695 | Target price: ₹ 690-677 | Stop Loss: ₹ 650 2] Minda Corporation: Buy at ₹ 560 | Target price: ₹ 550-540 | Stop Loss: ₹ 513 3] Oberoi Realty: Buy at ₹ 1908 | Target price: ₹ 1900-1862 | Stop Loss: ₹ 1802 Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
Time of India
5 days ago
- Business
- Time of India
Jindal Stainless acquires 33.64% stake in ₹1,517 crore hybrid renewable project with Oyster
New Delhi: Jindal Stainless Limited has acquired a 33.64 per cent equity stake in Oyster Green Hybrid One Private Limited, a Special Purpose Vehicle promoted by Oyster Renewable Energy Private Limited, to source power from a 282 MW interstate wind-solar hybrid project. The ₹1,517 crore project will be developed across Bhuj in Gujarat and Agar in Madhya Pradesh and is backed by funding from the Indian Renewable Energy Development Agency (IREDA). The facility will combine 82 MW of wind and 135 MWp of solar in Madhya Pradesh and 99 MW of wind in Gujarat. The plant will supply power to Jindal Stainless under a 25-year group captive Power Purchase Agreement. According to estimates shared by the company, the project is expected to reduce carbon dioxide emissions by about 7 lakh metric tonnes per year. 'This partnership is a blueprint for the future of Indian industry. At Oyster Renewable, we believe energy solutions must go beyond cost and capacity—they must create real, lasting impact. Together with Jindal Stainless, we are pioneering a model where clean energy and industrial excellence converge, proving that sustainability and profitability are not opposing goals, but complementary forces driving a stronger, greener India,' said Siddharth Bhatia, Managing Director, Oyster Renewable Energy Private Limited. The partnership is aimed at reducing dependence on conventional grid power and enabling the production of low-carbon ' green steel ' by Jindal Stainless. Oyster Renewable is focused on the commercial and industrial segment and has set a target of developing 2 gigawatts of renewable energy capacity by 2030. The company is pursuing hybrid energy systems that combine wind and solar to improve reliability and reduce energy costs.
Time of India
6 days ago
- Business
- Time of India
Stainless steel industry pushes for dumping duty
India's stainless steel industry is engaging with the Centre to impose an anti-dumping duty, with an application expected this month. Ratan Jindal emphasizes the need for safeguards to encourage investment as domestic capacity utilization hovers around 60%, while imports account for 30% of consumption. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Mumbai: India's stainless steel industry is in talks with the Centre for imposition of an anti-dumping duty, and is likely to submit an application this month, said Vijay Sharma, director of corporate affairs, Jindal Stainless . Meanwhile, company chairman Ratan Jindal said the industry needs safeguards to retain investment Indian Stainless Steel Development Association will be submitting the application to the Directorate General of Trade Remedies, which will then initiate an investigation, Sharma Ratan Jindal, Chairman of Jindal Stainless , said that for the industry to reach its full potential, it is imperative that producers are confident of investing."When domestic capacities are lying idle and 30% of the domestic consumption is still coming from imports - future investment in stainless steel is bound to get impacted," he said at the Global Stainless Steel Expo in the city on consumed 4.85 million tonne of stainless steel in FY25, with imports for the year at around 1.73 million tonne, up 3% as compared to the previous Indonesia, Vietnam and South Korea were among the countries from which stainless steel came into domestic industry has the capacity to produce around 7.85 million tonne of stainless steel each year, with current capacity utilisation at around 60%.Jindal Stainless, meanwhile, has an annual production capacity of 3 million tonne, and has announced investments to raise this to 4.2 million tonne. The country's largest producer of stainless steel in currently utilising close to 80% of its capacity.
The Hindu
6 days ago
- Business
- The Hindu
Stainless steel industry seeks policy support to harness full potential
India's stainless steel industry has called for a National Stainless Steel Policy to unlock its full potential in manufacturing, innovation, and global competitiveness. 'India's stainless steel consumption reached 4.8 million tonnes in FY25, registering an 8% year-on-year growth. Yet, nearly 30% of this is still met by imports, while domestic capacity remains underutilised,' Rajamani Krishnamurti, president of the Indian Stainless Steel Development Association (ISSDA) said, addressing delegates at the Global Stainless Steel Expo 2025 (GSSE 2025) currently underway in Mumbai. 'For the stainless steel industry to reach its true potential, we need a policy framework that boosts confidence, supports Make in India, and ensures long-term sustainability and competitiveness,' he stressed. 'We are reaffirming our call for a level-playing field, urging policymakers to proactively safeguard the sector while promoting innovation,' he said. 'As the world paces towards sustainability and resilient infrastructure, stainless steel's relevance is only growing. However, the influx of unfairly priced imports continues to challenge domestic manufacturers,' he highlighted. He said ISSDA had consistently cautioned against these risks, emphasising that unchecked trade diversions, particularly from nations like China and Vietnam, could undermine domestic manufacturing and employment in the sector. 'To safeguard the interests of the Indian stainless steel industry, both the government and industry stakeholders must remain vigilant, closely monitor import trends, and proactively implement necessary safeguard measures,' he said. Emphasising that stainless steel is no longer just about kitchens, Ratan Jindal, Chairman of Jindal Stainless said its now powering India's future in nuclear, medical, renewable, and transport sectors. 'With consumption projected to cross 20 million tonnes by 2047 and likely more, we must continue to develop the stainless steel ecosystem through a three-pronged strategy,' Mr. Jindal said. 'First, we must continue to scale our capacity to meet the growing demand. Second, we must strengthen our capability by investing in research, integrating digitalisation in every link of the value chain, increasing industry-academia partnerships, and promoting sustainable manufacturing practices,' he said. 'Third, we must work with the government to maintain a level playing field, particularly for MSMEs, by introducing trade remedial measures that prevent the influx of subsidised imports from China, circumvented through other ASEAN countries like Vietnam,' he added. To secure the success of our strategy and the future of our industry, there was an immediate need for a dedicated National Stainless Steel Policy that would deliver raw material security, drive long-term growth, and make resources accessible to every member of the ecosystem, especially MSMEs, he emphasised. India to become a global manufacturing giant, must invest not just in capacity but in capability, through R&D, innovation, and green manufacturing, he stated. With India now the second-largest consumer and third-largest producer of stainless steel, industry leaders urged the government to frame a dedicated national policy, one that embeds stainless steel across key missions like infrastructure, defence, space, and urban development. Anitha Raghunath, convenor of GSSE and Director at Virgo Communications said, 'With a market worth $22.4 billion and growing fast, India's stainless steel industry is on an unstoppable rise.' 'GSSE 2025 is the launchpad for cross-sector innovation, from EVs and aerospace to renewables and defence. This is where the future of stainless steel is being shaped, powering everything from the blue economy to Digital India,' she added. The government's emphasis on promoting stainless steel along the country's 11,000-km coastline is enhancing market awareness and promoting the substitution of conventional materials in coastal and maritime infrastructure, industry officials said. The logistics sector was also driving growth, with increased adoption of stainless steel in electric vehicles, trailers, and containers, they added. Besides sectors such as process industries, hydrogen, and nuclear energy have demonstrated substantial growth potential, presenting new avenues for stainless steel applications. ISSDA projects stainless steel consumption to rise to 12.5–12.7 MT by FY2040 and 19–20 MT by FY2047, aided by expanding applications in green energy, ethanol, water storage, defence, and aerospace.
Business Standard
6 days ago
- Business
- Business Standard
Jindal seeks duties on steel imports to shield MSMEs, boost Make in India
Jindal Stainless Chairman Ratan Jindal on Wednesday urged the government to protect the industry and livelihood of people by imposing appropriate duties on surging imports from select countries. The industry leader made the remarks while addressing the Global Stainless Steel Summit (2025) in Mumbai. "Today, low-priced imports from China and Vietnam persist across numerous industries, including stainless steel. In this context, it is essential that we collectively take a stand to protect our industry, particularly MSMEs, and the livelihood of our people, by imposing appropriate duties on these countries. I request the government's continuous support in this regard," he said while addressing the gathering. Jindal said many countries with excess production disrupt the level-playing field, particularly for the MSME sector. They divert surplus stainless steel through nations with free trade agreements with India or through ASEAN countries like Vietnam. "We have all witnessed how Indian industries like textiles, electronics, and machinery have been severely impacted by the aggressive export policies of countries like China and Vietnam," he said. India's installed stainless steel capacity stands at 7.5 MT, with a current utilisation of about 60 per cent, indicating significant potential for ramp-up, provided the right policy environment and demand momentum are sustained. He said future investment in stainless steel is bound to get impacted. As domestic capacities are lying idle and 30 per cent of the consumption is still coming from imports. He also advocated for a separate policy to promote the interests of stainless steel sector. "We, thus, need a policy ecosystem that is conducive to domestic manufacturing and consistent in favouring Make in India in the long term. "Only then will we be able to claim our rightful position in the global stainless steel industry," Jindal said. Later, addressing the media, JSL Director Vijay Sharma said on behalf of the industry, ISSDA will be filing and application with Directorate General of Trade Remedies (DGTR) this month to investigate the dumping of stainless steel items into the domestic market from select group of countries. India's stainless steel imports rose to 1.73 million tonnes in FY25, with China, Indonesia, Vietnam and South Korea being the major contributors to the shipments, as per the market research firm BigMint.
