Govt Enforces ‘Melt and Pour’ Rule for All Steel in Public Projects Nippon Steel expected to finalize U.S. Steel acquisition at $55 per share NMDC Limited reports a 38% drop in Q4 FY24 consolidated net profit RINL to Raise $23 Million Through Land Sales Amid Crisis
JSW Steel, led by Sajjan Jindal, is projected to report a net profit of ₹1,661 crore as opposed to ₹3,741 crore during the same time previous year, mainly as a result of reduced realisation. The top line would drop to ₹44,676 crore (₹46,346 crore). According to the company's statement last month, consolidated crude steel production jumped 3% year over year to 6.79 million tonnes (MT) in Q4.
The company logged its highest ever annual crude steel production of 26.43 MT in FY'24, an increase of 9% as against FY23. The company has mentioned on ambitious greenfield project to establish an integrated steel plant of 13 mtpa capacity. The company has laid the foundation stone for building the steel plant after the Industrial Development Corporation of Odisha handed over 2,958 acres to it recently.
Proposed in 2018, the Odisha government handed over JSW Steel the land it had acquired originally for a 12 mtpa steel project proposed by POSCO. JSW Steel already owns two captive and merchant iron ore mines in Odisha and is in the process of setting up a pellet plant. The iron ore mined in Odisha are used in the company’s steel plants at Dolvi in Maharashtra and Vijayanagar in Karnataka. So far, JSW Group has invested about ₹35,000 crore in Odisha and is expected to invest another ₹1.25-lakh crore.
Also Read : Adani's $1.2 billion copper smelter to import concentrates from Peru, Chile, Australia AM/NS India Q3 results: Ebitda up 208% at $499 Mn on higher steel shipments
Tata Motors has shelved its intention to seek more funding for its electric vehicle business, Tata P...
Large Corporate 05-Feb-2024
Tata Steel urged to lead global sourcing of steelmaking raw materials. Move aims to secure supplies...
Business 28-Apr-2025
Nickel prices surged to their highest level in ten weeks as concerns about the escalation of US sanc...
Non-Ferrous 23-Feb-2024
Adani Energy Solutions (AESL) mentioned that, for an enterprise value of ₹1,900 crore, it had succes...
Large Corporate 16-May-2024
The Ministry of Coal issued Eastern Coalfields Limited (ECL) strategic guidance to begin an innovati...
Press Releases 24-Jun-2024
Adani Group may list its airports vertical on the bourses after it achieves a couple of triggers, sa...
Large Corporate 10-Jan-2024