Jindal Steel

JSW Steel’s net profit falls 19 per cent

JSW Steel’s net profit falls 19 per centSteel industry major, JSW Steel has said on Monday that its net profit has fallen 19 per cent to about Rs. 137 crore during the third quarter from October to December 2012.

The company indicated that the fall in the profits was mainly due to foreign exchange losses and a write down on its US steel pipe mill operation. The company said that the depreciation in the value of rupee against US dollar resulted in a loss of Rs 267 crore for the company in the foreign exchange markets.

Metal shares outperform other sectors

Metal shares outperform other sectors The metal sector has outperformed other indices in trade today due to renewed interest shown by the investors.

Among the major metal shares, Jindal Steel, JSW Steel, Tata Steel and SAIL increased between 2.27 per cent and 0.88 per cent during the day. The BSE Metal Index recorded a strong increase of 8.81 per cent during the previous week while the Sensex has gained 1.17 per cent during the same period.

IMG recommends de-allocation of Jindal’s coal block

Jindal-Steel-WorksThe Delhi-based JSW (Jindal Steel Works) Group and Himachal EMTA Power Ltd. may soon lose the Gournagdih ABC coal block in West Bengal that was allotted to them in 2009, as the inter ministerial group (IMG) has recommended de-allocation of the block.

The IMG recommended de-allocation of the Gournagdih ABC coal block after its review meeting on Friday. A member of the IMG said, “We are forwarding our recommendations to the coal ministry to de-allocate the Gourangdih ABC block.”

The block will get de-allocated only after the recommendation gets approved by coal minister Sriprakash Jaiswal.

JSW Steel-Ispat merged entity will have revenues of Rs 43,000 cr

JSW Steel-Ispat merged entity will have revenues of Rs 43,000 cr The merged JSW Steel-Ispat entity will have revenues of Rs 43,000 crore, Joint MD & Group CFO Seshagiri Rao said.

Sajjan Jindal-led private sector steel producer on Saturday confirmed that JSW Steel would merge JSW Ispat with itself as a part of its much talked about wide-ranging restructuring. JSW Steel announced the merger 20 months after purchasing a controlling stake in rival steel producer Ispat Industries.

JSW Steel all set to merge Ispat with itself

JSW Steel all set to merge Ispat with itselfPrivate sector steel producer JSW Steel is reportedly all set to merge JSW Ispat with itself as a part of its much anticipated comprehensive restructuring.

Emerging reports suggest that the JSW Steel-JSW Ispat merger will likely be in the ratio of 1:75. In other words, there will be 75 shares of JSW Ispat for every share of JSW Steel.

The merged entity would be India's biggest private sector steel firm with production capacity of 14.3 million tonnes per annum, which would enable it to almost match public sector SAIL India's capacity of 14.6 million tonnes per annum.

Indian Markets Trades Marginally Lower; Nilesh Shah Expects Weakness Ahead

Indian Markets Trades Marginally Lower; Nilesh Shah Expects Weakness AheadIndian Stock market has continued with its downward move on Thursday. The market has remained in negative zone for most part of the current week. The BSE Sensex was down by 23 points at 17467 and NSE Nifty was flat at 5286.

European markets have opened marginally lower. FTSE and CAC were trading flat during early hours while DAX was down by 0.6%.

Sensex down 75 points, Jindal Steel slumps

Sensex down 75 points, Jindal Steel slumpsMumbai, Aug 28 - A benchmark index of Indian equities markets was trading 75 points lower in late afternoon trade Tuesday, tracking weak European markets. Metal, consumer durables and capital goods stocks were the worst performers.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,676.13 points, was ruling at 17,603.10 points, 0.43 percent or 75.71 points down from its previous day's close at 17,678.81 points.

The Sensex touched a high of 17,712.35 points and a low of 17,570.71 points in intra-day trade.

Jindal Steel & Power Gains a Hike Of 2.98% on BSE

Jindal Steel & Power Gains a Hike Of 2.98% on BSEIn today’s trade, gains in European shares and higher US index futures have played a role to aid recovery in battered Indian shares where the BSE Sensex was observed up 129.51 points or 0.8%, up 224.70 points from the day's low and off 32.82 from the day's high.

In addition, the owner of the world’s largest refining complex, Reliance Industries Ltd was found to be at higher level in volatile trade and majority of metal stocks increased after a gauge of six metals traded on the London Metal Exchange jumped 0.51%, on Friday.

Jindal meets Orissa CM for mega project

Jindal meets Orissa CM for mega projectJindal Steel and Power Limited (JSPL) announced its ambitious plan of setting up biggest steel plant of world in Orissa. Jindal Steel is all set ready to commission first phase of its 6 mtpa steel project by March, 2012. Company's managing director and Vice-chairman Naveen Jindal had a meeting with Orissa CM Naveen Patnaik.

Buy Jindal Steel With Stop Loss Of Rs 685

Buy Jindal Steel With Stop Loss Of Rs 685Stock market analyst Somil Mehta of Sharekhan has maintained 'buy' rating on Jindal Steel & Power Limited stock to achieve a target of Rs 750.

According to analyst, the interested investors can buy the stock with a strict stop loss of Rs 685.

Today, the stock of the company opened at Rs 702.50 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 778 and a low of Rs 585 on BSE.

Current EPS & P/E ratio stood at 17.30 and 40.69 respectively.

Long Term Buy Call For Jindal Steel

Jindal SteelStock market analyst Rahul Mohinder has maintained 'hold' rating on Jindal Steel & Power Ltd stock with a target of Rs 800 plus.

The analyst said that the stock will achieve the said target in a period of 12 months.

Today, the stock of the company opened at Rs 713.10 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 778 and a low of Rs 585 on BSE.

Current EPS & P/E ratio stood at 17.30 and 40.79 respectively.

Jindal Steel Intraday Buy Call

Jindal Steel Intraday Buy CallStock market analysts have maintained 'buy' rating on Jindal Steel &
Power Ltd with an intraday target between Rs 644-650.

According to them, interested traders can purchase the stock above Rs
637 with a strict stop loss of Rs 629.

Shares of the company, on Monday (Feb 15), closed at Rs 634.20 on the
Bombay Stock Exchange (BSE). The share price has seen a 52-week high of
Rs 778 and a low of Rs 161.99 on BSE.

Current EPS & P/E ratio of the stock stood at 16.86 & 45.89
respectively.

Jindal Steel & Power recorded a marginal increase in its standalone

Intraday Buy Call For Jindal Steel

Jindal Steel Stock market analysts have maintained 'buy' rating on Jindal Steel with an intraday target of Rs 874.

According to them, interested traders can purchase the stock between Rs 865-868 with a strict stop loss of Rs 859. If the stock market remains positive, the stock pricing becomes more attractive, and reach above Rs 880.

Shares of the company, on Thursday (Oct 22), closed at Rs 869.10 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 30.96 and 27.39 respectively. The share price has seen a 52-week high of Rs 935 and a low of Rs 161.15 on BSE.




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