News for Jindal Steel & Power Limited (JINDALSTEL.BO)

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Major Asian indices saw strong gains, with Japans Nikkei soaring 711 points (nearly 2%) during intraday trading. Hong Kongs Hang Seng rose 300 points (1.3%), Chinas Shanghai Composite gained 0.7% around 1 pm IST, and South Koreas Kospi advanced 2%.

In the ongoing earnings season, it’s going to be a busy week between April 28 and May 3 with nearly 200 companies set to release their results for Q4 and FY25. These companies also include several major players from both the public and private sectors. As per the BSE earnings calendar, as many as 188 companies are scheduled to release their earnings for the quarter and financial year ending March 2025, between April 28 and May 3.

JSPL acquires Allied Strips Limited to expand steel products market, enhancing product portfolio and supply chain.

Stocks including Infosys, UltraTech, HCL Technologies, HAL, Asian Paints, BEL, Jio Financial, PFC, Adani Green, ABFRL, Raymond and CESC will be in the spotlight on Friday, March 28.

India Business News: JSW Steel has become the world's highest-valued steelmaker, surpassing a market capitalisation of $30 billion. The company's valuation has outpaced ot

The DGTR has recommended a 12% provisional safeguard duty on certain steel products for 200 days to protect Indian steelmakers from rising imports. This move has led to an increase in the shares of major steel companies. The duty aims to counter the increased imports due to various trade protection measures and changes in the global steel sector.

Nifty metal settled with 2% gain. Tata Steel, Jindal Stainless, Hindsutan Zinc, Welspun Corp and JSW Steel among top gainers.

Azim Premji's investment arm Premji Invest on Friday bought shares of nine companies, including Bharti Airtel, Jindal Steel Power and Reliance Industries, for Rs 446 crore through open market transactions. The other six companies are Adani Ports and Special Economic Zone, Ambuja Cements, Hindalco Industries, ICICI Bank, Infosys and SBI Life Insurance.

While the steel secretary downplayed the impact of the US tariff, domestic producers fear price drops and market distortions from increased imports, particularly as India becomes a target for surplus steel.

Over the past 12 months, high steel imports into India have already dampened prices and earnings of steel producers in India, says Moody’s.

Jindal Steel & Power Ltd (JSPL) saw a 14% drop in share price to Rs 724 following a 51% year-on-year decline in net profit to Rs 951 crore for Q3. Weak steel prices and cheaper imports impacted earnings, despite a 5% rise in sales volume. EBITDA fell 24%, with revenues flat at Rs 13,707 crore.

AMFI rejig: Stocks that have been excluded from the largecap list included Adani Total Gas, IDBI Bank Ltd, Shree Cement Ltd, Union Bank of India Ltd and BHEL.

Indian Steel Association seeks imposition of safeguard duty on steel imports.

Government appoints Rama Mohan Rao Amara as MD of SBI; ITC acquires stake in Oberoi, Hotel Leelaventure; Usha Chandurkar divests stake in Ipca Labs.

List includes stocks like Reliance Industries, ONGC, Cholamandalam Investment, Samvardhana Motherson, and more.

In an announcement on Thursday, MSCI said it has added five stocks - BSE, Voltas, Alkem Laboratories, Kalyan Jewellers, and Oberoi Realty - to its Global Standard Index; while reducing the weights of Adani Green, RIL, ICICI Bank, Infosys, GMR Airports, and Adani Power.

In the case of HDFC Bank, the final tranche of float-led weight adjustment will take place, potentially resulting in an inflow of approximately $1.9 billion, which is equivalent to 6.5 days of its average daily volume (ADV).

Stocks including Titan Company, Dr Reddy's Labs, NTPC, Tata Steel, Infosys, GAIL (India), Hero Motocorp, Mankind Pharma and more will be the spotlight on Wednesday, November 06.