O P Jindal Group, Jindal Stainless Limited (JSL), the India's largest and only integrated Stainless Steel manufacturer, has plans to raise Rs 500 crore through various possible routes to fund its upcoming Rs 5,700-crore stainless steel project in Orissa.

The board of directors of the company stated in a communiqué on Monday that it's considering issuance of securities on rights basis to raise funds.

The move has been planned due to shortfall in the liquidity, which further compelled the company to raise more funds for the Orissa plant.

Reporting its highest-ever fourth-quarter crude steel output figures of 11.06 lakh tonnes, steel manufacturer JSW Steel Ltd has shown an 11 percent growth as compared to the same quarter last year figures.

For the month of March 2009 alone, JSW Steel - the third largest producer of alloy in India - posted crude steel production of 4.56 lakh tones; which marked a 28 percent growth from the year-before figures, and a 39 percent on a chronological basis.

In a press release, JSW Steel said that for the fiscal year 2008-09 on the whole, the company managed to produce

Karvy Stock Broking Limited has maintained ‘Buy’ rating on Tata Steel stock to achieve a target of Rs 215 within 1-2 days.

According to Karvy, day traders can buy the stock between Rs 202-203 with a stop loss of Rs 197. 

Shares of the company, on Tuesday (March 31), closed at Rs 206 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 67.73 and 3.08 respectively. The share price has seen a 52-week high of Rs 925 and a low of Rs 146.35 on BSE. 

The stock also performed well on Tuesday, and there are full chances that the stock can achieve the target within the said period.

Karvy Stock Broking Limited has maintained ‘Buy’ rating on Tata Steel stock to achieve a target of Rs 232 within 1-2 days.

According to Karvy, day traders can buy the stock between Rs 216-218 with a stop loss of Rs 212.

Shares of the company, on Friday (March 21), closed at Rs 223.50 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 67.73 and 3.12 respectively. The share price has seen a 52-week high of Rs 925 and a low of Rs 146.35 on BSE.

Essar Steel started a new steel processing facility at Oragadam near Chennai investing Rs 75 crore in a bid to enhance its steel service center capacity to satisfy growing demand of steel from clients.

The new facility, located at the SIPCOT Industrial Growth Centre at Oragadam, was inaugurated by Mr. TS Narayanasami, CMD of Bank of India in the presence of Essar Group Chairman Mr. Shashi Ruia.

JSW Steel Ltd has decided to strengthen its focus on rural market.

To get deeper into the rural market, Mr. Sajjan Jindal, Vice-Chairman and Managing Director of JSW Steels, said that the company, which has already opened 60 retail outlets through franchisee route, is planning to take it upto 600 outlets allover India by the next two years.

While talking to media persons at a seminar organized by NMDC in Hyderabad on Monday, Mr. Sajjan said that the company’s overall exports figure accounted for 40% of its production.