Jindal Steel has been suggested as a BUY with target price of Rs 225 by Shrikant Chouhan, Executive Vice President - Equity Technical Research, Kotak Securities.
India's Jindal Steel and Power, the third largest steel manufacturing company in India, expects to start producing gas in Bolivia in June this year, for export to Argentina.
A company official, who did not want to be recognized, informed that the gas supplies would come from a processing plant in the eastern province of Santa Cruz.
It should be noted that the company and its Bolivian partners began drilling at the El Palmar gas field at the end of March and have already invested around $7 million in the project.
In its endeavor to protect domestic industry from a gush of cheap imports from China, Thailand, Japan, and the US, the Indian government has provisionally imposed 'anti-dumping' duty on some of the high-end stainless steel products. To be effective for a six-month period, up to October 21, 2009, the anti-dumping duty would be payable in Indian rupees.
Steel-pipe producer, Welspun Gujarat Stahl Rohren Ltd has announced the demerger of its Plate-cum-Coil mill into a 100% subsidiary.
A senior company executive commenting on latest situation said, "The move will allow better financial control, better fiscal efficiency by rationalization of various applicable taxes, duties and create an independent identity of high-end steel business."
Following the demerger, a separate team with independent board and management would be structured, he added.
The LN Mittal-controlled company, ArcelorMittal, is reportedly holding up its $20-25 billion proposed steel projects in Orissa and Jharkhand, largely because of the global economic crisis that has weakened demand for steel. As such, the world's biggest steelmaker's pending payment to the state government, for a 1,500-acre land earmarked for the proposed facility, will also be delayed.
India's Jindal Steel and Power, the third largest steel manufacturing company in India, expects to start producing gas in Bolivia in June this year, for export to Argentina.
In its endeavor to protect domestic industry from a gush of cheap imports from China, Thailand, Japan, and the US, the Indian government has provisionally imposed 'anti-dumping' duty on some of the high-end stainless steel products. To be effective for a six-month period, up to October 21, 2009, the anti-dumping duty would be payable in Indian rupees. 
Steel-pipe producer, Welspun Gujarat Stahl Rohren Ltd has announced the demerger of its Plate-cum-Coil mill into a 100% subsidiary. 
The LN Mittal-controlled company, ArcelorMittal, is reportedly holding up its $20-25 billion proposed steel projects in Orissa and Jharkhand, largely because of the global economic crisis that has weakened demand for steel. As such, the world's biggest steelmaker's pending payment to the state government, for a 1,500-acre land earmarked for the proposed facility, will also be delayed. 
