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

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.

Experts feel current market dynamics are favourable for gold, driven by several factors

Motilal Oswal Financial Services has buy call on Jindal Steel & Power with a target price of Rs 1,200. The current market price of Jindal Steel & Power is Rs 1,027.

Shares of National Aluminium (6%), NMDC (4.59%), Tata Steel (4.22%), Vedanta (4.46%), JSW Steel (2.87%) and Jindal Steel (3%) were among the top gainers in the metal stocks-led rally today.

Stocks including Zomato, RVNL, Paytm, IREDA, Tata Motors, LTTS, Zen Tech, BEML and more may remain under the spotlight before the opening bell on Thursday, August 22.

Coastal Energen promoters: The company said in a statement that the total financial commitment of the promoters to the project is Rs 7,097 crore, including Rs 5,847 crore offered as settlement to banks

Companies including Adani Green, ITC, Axis Bank, Larsen & Toubro, RBL Bank, Sun Pharma, Dr Reddy's, RVNL, IEX and more may remain under the spot before the opening bell on Thursday, July 25.

Stocks to Watch today, Wednesday, July 24, 2024: HUL reported a 2.2 per cent Y-o-Y rise in consolidated net profit at Rs 2,610 crore for Q1FY25, in line with market expectations