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India's Jindal Stainless rises after company announces capacity addition
** Shares of Indian stainless steel manufacturer Jindal Stainless JIST.NS rise 2.64% to 735.70 rupees
** Co commissions stainless steel melt shop in Indonesia, adding 1.2 MTPA capacity
** 9 analysts rate JIST as "buy" or "strong buy" while 3 rate it as "hold"; median PT is 860.50 rupees - LSEG data
** YTD, stock down ~12.3%
(Reporting by Abhirami G in Bengaluru)
** Shares of Indian stainless steel manufacturer Jindal Stainless JIST.NS rise 2.64% to 735.70 rupees
** Co commissions stainless steel melt shop in Indonesia, adding 1.2 MTPA capacity
** 9 analysts rate JIST as "buy" or "strong buy" while 3 rate it as "hold"; median PT is 860.50 rupees - LSEG data
** YTD, stock down ~12.3%
(Reporting by Abhirami G in Bengaluru)
Jindal Stainless Commissions Indonesian SMS Facility
March 24 (Reuters) - Jindal Stainless Ltd JIST.NS:
COMMISSIONS INDONESIAN SMS FACILITY AND COMMITS 9 BILLION RUPEES INVESTMENT
COMMISSIONS INDONESIAN SMS FACILITY ADDING 1.2 MTPA CAPACITY
TARGETS 3.5 MTPA SALES VOLUME BY FY29, CLOCKING A DOUBLE-DIGIT CAGR
Source text: ID:nBSE1DGHX3
Further company coverage: JIST.NS
March 24 (Reuters) - Jindal Stainless Ltd JIST.NS:
COMMISSIONS INDONESIAN SMS FACILITY AND COMMITS 9 BILLION RUPEES INVESTMENT
COMMISSIONS INDONESIAN SMS FACILITY ADDING 1.2 MTPA CAPACITY
TARGETS 3.5 MTPA SALES VOLUME BY FY29, CLOCKING A DOUBLE-DIGIT CAGR
Source text: ID:nBSE1DGHX3
Further company coverage: JIST.NS
Jindal Stainless Says Operations Adversely Impacted By Fuel Shortages
March 13 (Reuters) - Jindal Stainless Ltd JIST.NS:
OPERATIONS ADVERSELY IMPACTED BY FUEL SHORTAGES
PLANTS OPERATING AT RATIONALISED CAPACITY DUE TO FUEL CONSTRAINTS
DISRUPTIONS IN SHIPPING ROUTES CAUSING VESSEL DIVERSIONS AND CARGO DELAYS
SUPPLY CHAINS AND MARGINS UNDER PRESSURE DUE TO SHIPPING DISRUPTIONS
ABSENCE OF CLARITY ON ALLOCATION FOR INDUSTRIAL PROPANE/LPG, NATURAL GAS TO HAVE CASCADING EFFECT ACROSS INDUSTRY
Source text: ID:nBSEbrnQgl
Further company coverage: JIST.NS
March 13 (Reuters) - Jindal Stainless Ltd JIST.NS:
OPERATIONS ADVERSELY IMPACTED BY FUEL SHORTAGES
PLANTS OPERATING AT RATIONALISED CAPACITY DUE TO FUEL CONSTRAINTS
DISRUPTIONS IN SHIPPING ROUTES CAUSING VESSEL DIVERSIONS AND CARGO DELAYS
SUPPLY CHAINS AND MARGINS UNDER PRESSURE DUE TO SHIPPING DISRUPTIONS
ABSENCE OF CLARITY ON ALLOCATION FOR INDUSTRIAL PROPANE/LPG, NATURAL GAS TO HAVE CASCADING EFFECT ACROSS INDUSTRY
Source text: ID:nBSEbrnQgl
Further company coverage: JIST.NS
India File: Iran war reverberates from farmlands to diamond vaults
India File is published every Tuesday. Think your friend or colleague should know about us? Forward this newsletter to them. They can also subscribe here.
March 10 - By Ira Dugal, Editor Financial News, with global Reuters staff
The Iran war’s effect on business is growing rather dramatically. From gas curbs to export delays, Indian companies are already feeling the strain. And so are financial markets, forcing a step-up in intervention from the central bank.
From fertiliser producers, to makers of ceramics to crafters of jewellery, a broad swathe of Indian companies has found itself in the cross-hairs of the war. That's our focus this week. Are there as-yet unanticipated ways in which the Middle East crisis could hit Indian firms? Write to me at ira.dugal@thomsonreuters.com.
And foreign outflows from Indian IT stocks hit a seven-month high in February. Scroll down for more on that.
THIS WEEK IN ASIA
Iran defies Trump, elevates Khamenei's son Mojtaba as successor
China says US talks vital as Trump targets Beijing's key partners
Airlines begin to hike fares due to higher fuel prices, shares stabilise
US pressing Sri Lanka not to repatriate Iranian crew and survivors from sunken ship, memo says
Vietnam eyes new 5G deals with Chinese tech firms, sources say, despite US warnings
SHORTAGES, SUPPLY DISRUPTIONS, PRICE HIKES
The U.S.-Israel war with Iran, now into its second week, is casting its shadow on businesses across the world, including India's.
The first point of impact has been higher oil prices - which rose above $110 per barrel but slid on Tuesday as U.S. President Donald Trump's comments raised hopes of an end to the war. But disruption to trade through the Strait of Hormuz and stoppage of gas supplies are also having a more immediate impact on Indian businesses.
Over the past week, GAIL GAIL.NS and IOC IOC.NS restricted gas supplies to industrial customers after Qatar halted production of liquefied natural gas and shipments were disrupted.
India, the world's fourth-largest buyer of LNG, relies heavily on the Middle East for its imports.
The gas shortages will likely hit the fertiliser sector quickly, where some manufacturers such as Gujarat Narmada Valley Fertilizers GNFC.NS have already announced planned production cuts.
Similar cuts are being seen across the region, which could potentially curb supplies just as farmers gear up for their major cereal planting season, Reuters' Naveen Thukral reported.
India imports about a third of its fertiliser needs. The government, however, was confident supplies will be adequate and added it is taking steps to diversify imports beyond the crisis-hit Middle East.
The ceramic and tiles industry has been another early casualty of fuel-supply shortages, with a number of firms planning on paring production. And restaurants have taken to social media to complain about a shortage of industrial-sized gas cylinders.
Alongside, businesses that export to the Middle East are starting to warn about delays in shipments.
India's gems and jewellery exports, as well as imports of rough diamonds from the United Arab Emirates, are being impacted because of widespread flight cancellations and airspace closures, Reuters' Rajendra Jadhav reported.
Jindal Stainless JIST.NS, India's biggest stainless steel producer, has warned of shipment delays.
India is not alone in feeling the impact, with many global businesses under pressure. Read here for an assessment of the global impact.
Prices are starting to be impacted as well, with India raising cooking gas prices, even though the government has ruled out a hike in retail costs of petrol and diesel for now.
The one silver lining is that interest rates may not rise immediately as production cuts due to shortages of fuel-based raw material and disruptions to exports may mean a quicker hit to India's growth than to inflation.
Read that analysis here.
In a scenario where oil prices average $120 per barrel in financial year 2026-27, inflation may rise to 4.8% while growth may slip to 6.2% from a currently estimated 7%, said Soumya Kanti Ghosh, chief economist at State Bank of India, the country's largest bank.
STEPPING UP INTERVENTION
With no quick resolution in sight and financial markets jittery, India's central bank has stepped up intervention.
It sold about $12 billion from its foreign exchange reserves to steady the rupee, which fell to a record low below 92 against the dollar this week.
It also bought bonds via the secondary markets and announced purchases of another 1 trillion rupees over the next week, to keep liquidity comfortable and interest rates in check.
The government too has activated contingency measures at ports to ensure additional storage facilities for exports bound for the Middle East that may be stuck or returning midway due to a lack of safe transit.
"Risk-off sentiments will keep the Indian rupee under pressure, while the RBI intervenes judiciously, balancing pressures on FX reserves and the need to maintain banking system liquidity," Kotak Institutional Equities said in a note.
MARKET MATTERS
Indian IT stocks fell the most in February since the global financial crisis as foreign selling hit its highest in seven months on concerns about the impact artificial intelligence models will have on the software business, data released on Friday showed.
Foreign portfolio investors sold IT stocks worth 169.49 billion rupees ($1.85 billion) last month, triggering a 19.5% drop in the IT index .NIFTYIT, its worst monthly performance since September 2008, when the global financial crisis upended equity markets.
Read here for more.
THIS WEEK'S MUST-READ
The southern Indian state of Karnataka, home to the tech hub of Bengaluru, banned on Friday the use of social media by those under the age of 16.
Read here for more on the decision.
Karnataka became the first Indian state to implement a ban even though a wider debate in the country kicked off after an annual economic document from the government's chief economic adviser earlier this year said that India should draft policies on age-based access limits to tackle "digital addiction".
FPI outflows from Indian IT stocks climb to 7-month high in February 2026 https://reut.rs/4b9tLbh
(Reporting by Ira Dugal; Editing by Muralikumar Anantharaman)
((Ira.Dugal@thomsonreuters.com; +91-9833024892;))
India File is published every Tuesday. Think your friend or colleague should know about us? Forward this newsletter to them. They can also subscribe here.
March 10 - By Ira Dugal, Editor Financial News, with global Reuters staff
The Iran war’s effect on business is growing rather dramatically. From gas curbs to export delays, Indian companies are already feeling the strain. And so are financial markets, forcing a step-up in intervention from the central bank.
From fertiliser producers, to makers of ceramics to crafters of jewellery, a broad swathe of Indian companies has found itself in the cross-hairs of the war. That's our focus this week. Are there as-yet unanticipated ways in which the Middle East crisis could hit Indian firms? Write to me at ira.dugal@thomsonreuters.com.
And foreign outflows from Indian IT stocks hit a seven-month high in February. Scroll down for more on that.
THIS WEEK IN ASIA
Iran defies Trump, elevates Khamenei's son Mojtaba as successor
China says US talks vital as Trump targets Beijing's key partners
Airlines begin to hike fares due to higher fuel prices, shares stabilise
US pressing Sri Lanka not to repatriate Iranian crew and survivors from sunken ship, memo says
Vietnam eyes new 5G deals with Chinese tech firms, sources say, despite US warnings
SHORTAGES, SUPPLY DISRUPTIONS, PRICE HIKES
The U.S.-Israel war with Iran, now into its second week, is casting its shadow on businesses across the world, including India's.
The first point of impact has been higher oil prices - which rose above $110 per barrel but slid on Tuesday as U.S. President Donald Trump's comments raised hopes of an end to the war. But disruption to trade through the Strait of Hormuz and stoppage of gas supplies are also having a more immediate impact on Indian businesses.
Over the past week, GAIL GAIL.NS and IOC IOC.NS restricted gas supplies to industrial customers after Qatar halted production of liquefied natural gas and shipments were disrupted.
India, the world's fourth-largest buyer of LNG, relies heavily on the Middle East for its imports.
The gas shortages will likely hit the fertiliser sector quickly, where some manufacturers such as Gujarat Narmada Valley Fertilizers GNFC.NS have already announced planned production cuts.
Similar cuts are being seen across the region, which could potentially curb supplies just as farmers gear up for their major cereal planting season, Reuters' Naveen Thukral reported.
India imports about a third of its fertiliser needs. The government, however, was confident supplies will be adequate and added it is taking steps to diversify imports beyond the crisis-hit Middle East.
The ceramic and tiles industry has been another early casualty of fuel-supply shortages, with a number of firms planning on paring production. And restaurants have taken to social media to complain about a shortage of industrial-sized gas cylinders.
Alongside, businesses that export to the Middle East are starting to warn about delays in shipments.
India's gems and jewellery exports, as well as imports of rough diamonds from the United Arab Emirates, are being impacted because of widespread flight cancellations and airspace closures, Reuters' Rajendra Jadhav reported.
Jindal Stainless JIST.NS, India's biggest stainless steel producer, has warned of shipment delays.
India is not alone in feeling the impact, with many global businesses under pressure. Read here for an assessment of the global impact.
Prices are starting to be impacted as well, with India raising cooking gas prices, even though the government has ruled out a hike in retail costs of petrol and diesel for now.
The one silver lining is that interest rates may not rise immediately as production cuts due to shortages of fuel-based raw material and disruptions to exports may mean a quicker hit to India's growth than to inflation.
Read that analysis here.
In a scenario where oil prices average $120 per barrel in financial year 2026-27, inflation may rise to 4.8% while growth may slip to 6.2% from a currently estimated 7%, said Soumya Kanti Ghosh, chief economist at State Bank of India, the country's largest bank.
STEPPING UP INTERVENTION
With no quick resolution in sight and financial markets jittery, India's central bank has stepped up intervention.
It sold about $12 billion from its foreign exchange reserves to steady the rupee, which fell to a record low below 92 against the dollar this week.
It also bought bonds via the secondary markets and announced purchases of another 1 trillion rupees over the next week, to keep liquidity comfortable and interest rates in check.
The government too has activated contingency measures at ports to ensure additional storage facilities for exports bound for the Middle East that may be stuck or returning midway due to a lack of safe transit.
"Risk-off sentiments will keep the Indian rupee under pressure, while the RBI intervenes judiciously, balancing pressures on FX reserves and the need to maintain banking system liquidity," Kotak Institutional Equities said in a note.
MARKET MATTERS
Indian IT stocks fell the most in February since the global financial crisis as foreign selling hit its highest in seven months on concerns about the impact artificial intelligence models will have on the software business, data released on Friday showed.
Foreign portfolio investors sold IT stocks worth 169.49 billion rupees ($1.85 billion) last month, triggering a 19.5% drop in the IT index .NIFTYIT, its worst monthly performance since September 2008, when the global financial crisis upended equity markets.
Read here for more.
THIS WEEK'S MUST-READ
The southern Indian state of Karnataka, home to the tech hub of Bengaluru, banned on Friday the use of social media by those under the age of 16.
Read here for more on the decision.
Karnataka became the first Indian state to implement a ban even though a wider debate in the country kicked off after an annual economic document from the government's chief economic adviser earlier this year said that India should draft policies on age-based access limits to tackle "digital addiction".
FPI outflows from Indian IT stocks climb to 7-month high in February 2026 https://reut.rs/4b9tLbh
(Reporting by Ira Dugal; Editing by Muralikumar Anantharaman)
((Ira.Dugal@thomsonreuters.com; +91-9833024892;))
India's Jindal Stainless flags possible shipment delays to Middle East
By Neha Arora
NEW DELHI, March 6 (Reuters) - India's Jindal Stainless JIST.NS said on Friday there may be some delays in steel shipments to the Middle East in the near term due to the conflict in the region.
The country's biggest stainless steel producer said the Middle East accounted for a small share of its export market but that the company remained committed to serving the region.
"Given the escalating conditions, there may be some delays in shipment arrivals in the near term, due to extended transit timelines across certain international shipping routes and air spaces," Abhyuday Jindal, managing director of Jindal Stainless, told Reuters.
He said it was premature to comment on any kind of surcharges.
The company was closely monitoring the evolving geopolitical situation and was prepared to ensure minimal disruption to its supply chain and operations, Jindal said.
"One focus area currently is the availability of certain industrial gases and raw materials, such as limestone and dolomite, sourced from the (Middle East)," Jindal added, saying that while the company maintained adequate inventory levels, they were prepared to tap other sourcing options to prevent any impact on production.
Some steel companies are also bracing to pay higher prices for gas.
Reuters reported on Thursday that India's Adani Total Gas ADAG.NS has sharply raised prices for supplies to industrial clients, citing lower availability of gas due to the conflict in the Middle East.
(Reporting by Neha Arora; editing by Mayank Bhardwaj and Raju Gopalakrishnan)
((neha.dasgupta@tr.com; X: neha_5;))
By Neha Arora
NEW DELHI, March 6 (Reuters) - India's Jindal Stainless JIST.NS said on Friday there may be some delays in steel shipments to the Middle East in the near term due to the conflict in the region.
The country's biggest stainless steel producer said the Middle East accounted for a small share of its export market but that the company remained committed to serving the region.
"Given the escalating conditions, there may be some delays in shipment arrivals in the near term, due to extended transit timelines across certain international shipping routes and air spaces," Abhyuday Jindal, managing director of Jindal Stainless, told Reuters.
He said it was premature to comment on any kind of surcharges.
The company was closely monitoring the evolving geopolitical situation and was prepared to ensure minimal disruption to its supply chain and operations, Jindal said.
"One focus area currently is the availability of certain industrial gases and raw materials, such as limestone and dolomite, sourced from the (Middle East)," Jindal added, saying that while the company maintained adequate inventory levels, they were prepared to tap other sourcing options to prevent any impact on production.
Some steel companies are also bracing to pay higher prices for gas.
Reuters reported on Thursday that India's Adani Total Gas ADAG.NS has sharply raised prices for supplies to industrial clients, citing lower availability of gas due to the conflict in the Middle East.
(Reporting by Neha Arora; editing by Mayank Bhardwaj and Raju Gopalakrishnan)
((neha.dasgupta@tr.com; X: neha_5;))
Jindal Stainless Partners With Indian Railways For Salt Container
Feb 13 (Reuters) - Jindal Stainless Ltd JIST.NS:
JINDAL STAINLESS - PARTNERS WITH INDIAN RAILWAYS FOR SALT CONTAINER
Source text: ID:nBSERBBwV
Further company coverage: JIST.NS
Feb 13 (Reuters) - Jindal Stainless Ltd JIST.NS:
JINDAL STAINLESS - PARTNERS WITH INDIAN RAILWAYS FOR SALT CONTAINER
Source text: ID:nBSERBBwV
Further company coverage: JIST.NS
India's Jindal Stainless gains on quarterly profit rise
** Shares of Jindal Stainless JIST.NS rise 4.4% to 783.2 rupees
** The steel maker posted 26.6% rise in Q3 profit to 8.28 billion rupees; net revenue rose 6.2% to 105.18 billion rupees
** Jefferies says JIST's domestic volumes rose a strong 14% YOY, boosted by good demand in autos and elevators; demand in railways, process industries, and pipes & tubes remain healthy
** The average rating of 12 analysts tracking JIST is "buy"; the median price target is 828 rupees, per data compiled by LSEG
** JIST rose 20% in 2025
(Reporting by Brijesh Patel in Bengaluru)
((Brijesh.Patel1@thomsonreuters.com; Ph no. +91 9590227221;))
** Shares of Jindal Stainless JIST.NS rise 4.4% to 783.2 rupees
** The steel maker posted 26.6% rise in Q3 profit to 8.28 billion rupees; net revenue rose 6.2% to 105.18 billion rupees
** Jefferies says JIST's domestic volumes rose a strong 14% YOY, boosted by good demand in autos and elevators; demand in railways, process industries, and pipes & tubes remain healthy
** The average rating of 12 analysts tracking JIST is "buy"; the median price target is 828 rupees, per data compiled by LSEG
** JIST rose 20% in 2025
(Reporting by Brijesh Patel in Bengaluru)
((Brijesh.Patel1@thomsonreuters.com; Ph no. +91 9590227221;))
Jindal Stainless Q3 Consol PAT At 8.28 Billion Rupees, Up By 26.6% Y/Y
Jan 21 (Reuters) - Jindal Stainless Ltd JIST.NS:
JINDAL STAINLESS Q3 CONSOL PAT AT 8.28 BILLION RUPEES, UP BY 26.6% Y/Y
JINDAL STAINLESS - INTERIM DIVIDEND 1 RUPEE PER SHARE
JINDAL STAINLESS Q3 CONSOL NET REVENUE AT 105.18 BILLION RUPEES, UP BY 6.2% Y/Y
Source text: [ID:]
Further company coverage: JIST.NS
Jan 21 (Reuters) - Jindal Stainless Ltd JIST.NS:
JINDAL STAINLESS Q3 CONSOL PAT AT 8.28 BILLION RUPEES, UP BY 26.6% Y/Y
JINDAL STAINLESS - INTERIM DIVIDEND 1 RUPEE PER SHARE
JINDAL STAINLESS Q3 CONSOL NET REVENUE AT 105.18 BILLION RUPEES, UP BY 6.2% Y/Y
Source text: [ID:]
Further company coverage: JIST.NS
Indian steelmakers jump after New Delhi imposes import tariffs
Adds details throughout
By Vivek Kumar M
Dec 31 (Reuters) - Shares of major Indian steel companies climbed between 2% and 5% on Wednesday after the country imposed a three-year import tariff on select products to curb cheap shipments from China.
The levy, locally known as a safeguard duty, will be imposed at 12% in the first year followed by 11.5% in the second year and then 11% in the third year.
Tata Steel TISC.NS and JSW Steel JSTL.NS rose 2.4% and 5%, respectively, leading gainers on the benchmark Nifty 50 .NSEI index. Steel Authority of India SAIL.NS and Jindal Steel JINT.NS also added 2.5% and 3.5%.
"Post announcement of the safeguard duty, the domestic steel prices are currently at about 13% to 15% discount to the landed cost of imports from China, providing sufficient headroom for price hikes by domestic manufacturers," said Sunny Agrawal, head of fundamental equity research at SBICAPS Securities.
The move follows the Directorate General of Trade Remedies' findings of a sharp surge in imports causing injury to domestic producers.
Earlier, the government had implemented a temporary 12% duty for 200 days in April . While that shorter duration caused investor uncertainty, the new three-year window provides long-term protection for local players, according to the analyst.
The metal stocks .NIFTYMET hit a record 11,189.8 points on the day, gaining as much as 1.7%. The sectoral gauge has risen in 12 of the previous 14 sessions, supported by firm prices for copper, aluminium and silver.
A rise in commodity prices is driven by expectations of two U.S. Federal Reserve rate cuts in 2026, improved Chinese demand and supply shortages, as per analysts.
The domestic metal index has jumped roughly 29% in 2025, outperforming the Nifty 50's 10% advance.
(Reporting by Vivek Kumar M; Editing by Mrigank Dhaniwala, Janane Venkatraman and Nivedita Bhattacharjee)
Adds details throughout
By Vivek Kumar M
Dec 31 (Reuters) - Shares of major Indian steel companies climbed between 2% and 5% on Wednesday after the country imposed a three-year import tariff on select products to curb cheap shipments from China.
The levy, locally known as a safeguard duty, will be imposed at 12% in the first year followed by 11.5% in the second year and then 11% in the third year.
Tata Steel TISC.NS and JSW Steel JSTL.NS rose 2.4% and 5%, respectively, leading gainers on the benchmark Nifty 50 .NSEI index. Steel Authority of India SAIL.NS and Jindal Steel JINT.NS also added 2.5% and 3.5%.
"Post announcement of the safeguard duty, the domestic steel prices are currently at about 13% to 15% discount to the landed cost of imports from China, providing sufficient headroom for price hikes by domestic manufacturers," said Sunny Agrawal, head of fundamental equity research at SBICAPS Securities.
The move follows the Directorate General of Trade Remedies' findings of a sharp surge in imports causing injury to domestic producers.
Earlier, the government had implemented a temporary 12% duty for 200 days in April . While that shorter duration caused investor uncertainty, the new three-year window provides long-term protection for local players, according to the analyst.
The metal stocks .NIFTYMET hit a record 11,189.8 points on the day, gaining as much as 1.7%. The sectoral gauge has risen in 12 of the previous 14 sessions, supported by firm prices for copper, aluminium and silver.
A rise in commodity prices is driven by expectations of two U.S. Federal Reserve rate cuts in 2026, improved Chinese demand and supply shortages, as per analysts.
The domestic metal index has jumped roughly 29% in 2025, outperforming the Nifty 50's 10% advance.
(Reporting by Vivek Kumar M; Editing by Mrigank Dhaniwala, Janane Venkatraman and Nivedita Bhattacharjee)
India's Jindal Stainless rises after doubling slag processing capacity in Odisha plant
** Shares of Jindal Stainless JIST.NS rise as much as 2.6% to 804.4 rupees apiece, a three-week high
** Rise after the steel maker says it is doubling its slag processing capacity with a new milling plant at its Odisha plant
** Investment for the capacity is expected to be at $150 million to build and operate the plant under a 15-year partnership with Harsco Environmental
** JIST shares are up about 3.5% in two sessions since the announcement
** ICICI Direct says it remains positive on JIST as the plant will support the company's expanded capacity operations, help recover metal from industrial waste
** The average rating of 13 analysts tracking JIST is "buy"; the median price target is 767.5 rupees, data compiled by LSEG shows
** JIST shares are up 12.1% in 2025 so far, lagging the 18.6% rise in the metal index .NIFTYMET, exchange data shows
(Reporting by Bharath Rajeswaran in Bengaluru)
((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))
** Shares of Jindal Stainless JIST.NS rise as much as 2.6% to 804.4 rupees apiece, a three-week high
** Rise after the steel maker says it is doubling its slag processing capacity with a new milling plant at its Odisha plant
** Investment for the capacity is expected to be at $150 million to build and operate the plant under a 15-year partnership with Harsco Environmental
** JIST shares are up about 3.5% in two sessions since the announcement
** ICICI Direct says it remains positive on JIST as the plant will support the company's expanded capacity operations, help recover metal from industrial waste
** The average rating of 13 analysts tracking JIST is "buy"; the median price target is 767.5 rupees, data compiled by LSEG shows
** JIST shares are up 12.1% in 2025 so far, lagging the 18.6% rise in the metal index .NIFTYMET, exchange data shows
(Reporting by Bharath Rajeswaran in Bengaluru)
((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))
Western Carriers (India) Ltd Says Receives 5.58 Billion Rupees Work Order From Jindal Stainless
June 25 (Reuters) - Western Carriers (India) Ltd WESE.NS:
WESTERN CARRIERS (INDIA) LTD - RECEIVES 5.58 BILLION RUPEES WORK ORDER FROM JINDAL STAINLESS
WESTERN CARRIERS (INDIA) LTD - WORK ORDER FROM JINDAL STAINLESS LIMITED FOR 3 YEARS
Source text: ID:nNSE8p9cNg
Further company coverage: WESE.NS
June 25 (Reuters) - Western Carriers (India) Ltd WESE.NS:
WESTERN CARRIERS (INDIA) LTD - RECEIVES 5.58 BILLION RUPEES WORK ORDER FROM JINDAL STAINLESS
WESTERN CARRIERS (INDIA) LTD - WORK ORDER FROM JINDAL STAINLESS LIMITED FOR 3 YEARS
Source text: ID:nNSE8p9cNg
Further company coverage: WESE.NS
NSE To Exclude F&O Contracts On 8 Securities Including Adani Total Gas, Jindal Stainless From Aug 29 On Expiry Of Existing Contracts
June 23 (Reuters) - Adani Total Gas Ltd ADAG.NS:
NSE: TO EXCLUDE F&O CONTRACTS ON 8 SECURITIES INCLUDING ADANI TOTAL GAS, JINDAL STAINLESS FROM AUG 29 ON EXPIRY OF EXISTING CONTRACTS
Source text: [https://tinyurl.com/5hdtsnv6]
Further company coverage: ADAG.NS
June 23 (Reuters) - Adani Total Gas Ltd ADAG.NS:
NSE: TO EXCLUDE F&O CONTRACTS ON 8 SECURITIES INCLUDING ADANI TOTAL GAS, JINDAL STAINLESS FROM AUG 29 ON EXPIRY OF EXISTING CONTRACTS
Source text: [https://tinyurl.com/5hdtsnv6]
Further company coverage: ADAG.NS
Jindal Stainless Acquires Stake In SPV Formed In Collaboration With Oyster Renewable Energy
June 2 (Reuters) - Jindal Stainless Ltd JIST.NS:
ACQUIRED STAKE IN SPV FORMED IN COLLABORATION WITH OYSTER RENEWABLE ENERGY
TO INVEST 1.32 BILLION RUPEES IN OYSTER GREEN PROJECT
Source text: ID:nBSE7zhjLV
Further company coverage: JIST.NS
June 2 (Reuters) - Jindal Stainless Ltd JIST.NS:
ACQUIRED STAKE IN SPV FORMED IN COLLABORATION WITH OYSTER RENEWABLE ENERGY
TO INVEST 1.32 BILLION RUPEES IN OYSTER GREEN PROJECT
Source text: ID:nBSE7zhjLV
Further company coverage: JIST.NS
India's Jindal Stainless rises after strong quarterly earnings, positive FY26 outlook
** Shares of Jindal Stainless JIST.NS climbs 0.64% to 592 rupees
** JIST is second biggest gainer on the 15-member Nifty metal index .NIFTYMET, which is down 0.34%
** Steelmaker reported 18% y/y rise in Q4 consol PAT, net rev grew 8%
** Co said it is expecting exports volumes in FY26 to rise by 30% y/y; overall sales volume growth is expected to be 9%-10% in FY26
** Stock rated "strong buy" on avg, median PT is 783 rupees - data compiled by LSEG
** Year-to-date, stock down ~15% vs ~3% drop in .NIFTYMET
(Reporting by Manvi Pant in Bengaluru)
((Manvi.Pant@thomsonreuters.com; +918447554364;))
** Shares of Jindal Stainless JIST.NS climbs 0.64% to 592 rupees
** JIST is second biggest gainer on the 15-member Nifty metal index .NIFTYMET, which is down 0.34%
** Steelmaker reported 18% y/y rise in Q4 consol PAT, net rev grew 8%
** Co said it is expecting exports volumes in FY26 to rise by 30% y/y; overall sales volume growth is expected to be 9%-10% in FY26
** Stock rated "strong buy" on avg, median PT is 783 rupees - data compiled by LSEG
** Year-to-date, stock down ~15% vs ~3% drop in .NIFTYMET
(Reporting by Manvi Pant in Bengaluru)
((Manvi.Pant@thomsonreuters.com; +918447554364;))
Jindal Stainless Says JSL Super Steel And Sunsure Energy Sign 11 MWP PPA
April 10 (Reuters) - Jindal Stainless Ltd JIST.NS:
JINDAL STAINLESS - JSL SUPER STEEL AND SUNSURE ENERGY SIGN 11 MWP PPA
Source text: ID:nBSE2673Tb
Further company coverage: JIST.NS
April 10 (Reuters) - Jindal Stainless Ltd JIST.NS:
JINDAL STAINLESS - JSL SUPER STEEL AND SUNSURE ENERGY SIGN 11 MWP PPA
Source text: ID:nBSE2673Tb
Further company coverage: JIST.NS
Jindal Stainless Acquires 9.62% Stake In M1xchange
March 26 (Reuters) - Jindal Stainless Ltd JIST.NS:
JINDAL STAINLESS LTD - ACQUIRES 9.62% STAKE IN M1XCHANGE
JINDAL STAINLESS LTD - DEAL INVOLVES PRIMARY CAPITAL AND SECONDARY SHARE PURCHASE
Source text: ID:nBSE6BBvLg
Further company coverage: JIST.NS
March 26 (Reuters) - Jindal Stainless Ltd JIST.NS:
JINDAL STAINLESS LTD - ACQUIRES 9.62% STAKE IN M1XCHANGE
JINDAL STAINLESS LTD - DEAL INVOLVES PRIMARY CAPITAL AND SECONDARY SHARE PURCHASE
Source text: ID:nBSE6BBvLg
Further company coverage: JIST.NS
Jindal Stainless Approves Acquisition Of 5.03% Stake In Mynd Solutions
March 25 (Reuters) - Jindal Stainless Ltd JIST.NS:
JINDAL STAINLESS LTD - APPROVES ACQUISITION OF 5.03% STAKE IN MYND SOLUTIONS
JINDAL STAINLESS LTD - COST OF ACQUISITION FOR 5.03% STAKE IS 1.03 BILLION RUPEES
Source text: ID:nNSE5GtcLC
Further company coverage: JIST.NS
March 25 (Reuters) - Jindal Stainless Ltd JIST.NS:
JINDAL STAINLESS LTD - APPROVES ACQUISITION OF 5.03% STAKE IN MYND SOLUTIONS
JINDAL STAINLESS LTD - COST OF ACQUISITION FOR 5.03% STAKE IS 1.03 BILLION RUPEES
Source text: ID:nNSE5GtcLC
Further company coverage: JIST.NS
India's Jindal Stainless falls after brokerages cut PT on demand concerns
** Shares of Jindal Stainless JIST.NS fall 3.5% to 603.9 rupees
** Multiple brokerages cut the stock's price target, citing demand concerns after meeting with the JIST's management
** Investec reiterates "buy", but cuts target price to 815 rupees from 870 rupees, citing a weak demand environment that could likely hurt volumes and delay downstream projects
** Cuts operating profit estimates by 7%-9% for fiscal years 2025-2027
** Nuvama lowers target price to 723 rupees from 836 rupees, citing JIST's conservative guidance of 9%-10% volume growth in FY 2026
** Expects the stock to be under pressure due to near-term earnings weakness
** Average rating of the 10 analysts tracking JIST is a "strong buy"; median target price is 828 rupees, ~37% higher than current levels, according to data compiled by LSEG
** JIST shares are down 14% in 2025 so far, compared with a 7% jump in metal sub-index .NIFTYMET, according to exchange data
(Reporting by Bharath Rajeswaran in Bengaluru)
((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))
** Shares of Jindal Stainless JIST.NS fall 3.5% to 603.9 rupees
** Multiple brokerages cut the stock's price target, citing demand concerns after meeting with the JIST's management
** Investec reiterates "buy", but cuts target price to 815 rupees from 870 rupees, citing a weak demand environment that could likely hurt volumes and delay downstream projects
** Cuts operating profit estimates by 7%-9% for fiscal years 2025-2027
** Nuvama lowers target price to 723 rupees from 836 rupees, citing JIST's conservative guidance of 9%-10% volume growth in FY 2026
** Expects the stock to be under pressure due to near-term earnings weakness
** Average rating of the 10 analysts tracking JIST is a "strong buy"; median target price is 828 rupees, ~37% higher than current levels, according to data compiled by LSEG
** JIST shares are down 14% in 2025 so far, compared with a 7% jump in metal sub-index .NIFTYMET, according to exchange data
(Reporting by Bharath Rajeswaran in Bengaluru)
((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))
Jindal Stainless Completes Divestment Of 26% Stake In Jindal Coke
March 6 (Reuters) - Jindal Stainless Ltd JIST.NS:
COMPLETES DIVESTMENT OF 26% STAKE IN JINDAL COKE
RECEIVES 1.95 BILLION RUPEES FROM DIVESTMENT
Source text: ID:nBSE1hVNgC
Further company coverage: JIST.NS
March 6 (Reuters) - Jindal Stainless Ltd JIST.NS:
COMPLETES DIVESTMENT OF 26% STAKE IN JINDAL COKE
RECEIVES 1.95 BILLION RUPEES FROM DIVESTMENT
Source text: ID:nBSE1hVNgC
Further company coverage: JIST.NS
Jindal Stainless Approves Acquisition Of AGH Dreams And Utkrisht Dream Ventures
Feb 27 (Reuters) - Jindal Stainless Ltd JIST.NS:
JINDAL STAINLESS LTD - APPROVES ACQUISITION OF AGH DREAMS AND UTKRISHT DREAM VENTURES
Source text: ID:nNSE1rVv15
Further company coverage: JIST.NS
Feb 27 (Reuters) - Jindal Stainless Ltd JIST.NS:
JINDAL STAINLESS LTD - APPROVES ACQUISITION OF AGH DREAMS AND UTKRISHT DREAM VENTURES
Source text: ID:nNSE1rVv15
Further company coverage: JIST.NS
India's Jindal Stainless posts Q3 profit drop on falling steel prices
Jan 29 (Reuters) - Indian steelmaker Jindal Stainless JIST.NS reported a 5.3% fall in third-quarter profit on Wednesday, hurt by lower prices amid discounted imports from China as well as rising expenses.
The company's consolidated profit after tax declined to 6.54 billion rupees (about $76 million) for the quarter ended Dec. 31 from 6.91 billion rupees a year earlier.
Indian steelmakers have been battling an influx of discounted Chinese steel, with shipments hitting an all-time high during the April-December period.
Jindal Stainless said the dip in profit happened as stainless steel prices have been declining globally, while incessant low-priced imports pressured margins in both domestic and export markets.
Its earnings before interest, taxes, depreciation, and amortization fell to 12.08 billion rupees in the quarter, down 5.3% on-year.
Domestic sales grew 20% in the quarter, driven by higher sales to the automobile industry, while exports fell 22%.
The company's net revenue rose 8.5% to 99.07 billion rupees, while total expenses jumped 10% to 91.02 billion rupees.
($1 = 86.5280 Indian rupees)
(Reporting by Manvi Pant in Bengaluru; Editing by Mrigank Dhaniwala)
((Manvi.Pant@thomsonreuters.com; +918447554364;))
Jan 29 (Reuters) - Indian steelmaker Jindal Stainless JIST.NS reported a 5.3% fall in third-quarter profit on Wednesday, hurt by lower prices amid discounted imports from China as well as rising expenses.
The company's consolidated profit after tax declined to 6.54 billion rupees (about $76 million) for the quarter ended Dec. 31 from 6.91 billion rupees a year earlier.
Indian steelmakers have been battling an influx of discounted Chinese steel, with shipments hitting an all-time high during the April-December period.
Jindal Stainless said the dip in profit happened as stainless steel prices have been declining globally, while incessant low-priced imports pressured margins in both domestic and export markets.
Its earnings before interest, taxes, depreciation, and amortization fell to 12.08 billion rupees in the quarter, down 5.3% on-year.
Domestic sales grew 20% in the quarter, driven by higher sales to the automobile industry, while exports fell 22%.
The company's net revenue rose 8.5% to 99.07 billion rupees, while total expenses jumped 10% to 91.02 billion rupees.
($1 = 86.5280 Indian rupees)
(Reporting by Manvi Pant in Bengaluru; Editing by Mrigank Dhaniwala)
((Manvi.Pant@thomsonreuters.com; +918447554364;))
India's Jindal Stainless rises; Nuvama upgrades to 'buy'
** Shares of Jindal Stainless JIST.NS rise 3.2% to 626.05 rupees; set to snap four-session losing streak
** Brokerage Nuvama upgrades rating to 'buy' from 'hold' and raises PT to 836 rupees from 756 rupees
** Export demand, which is temporarily weak, is likely to pick up in FY26, brokerage says
** Cites normalcy in freight rates and expectations of increasing investment and infra spending after U.S. regime change
** Nuvama expects improvement in profitability from improved volumes, product mix and recovery in export market from FY26
** Profitability was hurt by weakness in export demand and higher supply in domestic market, note says
** Avg analysts' rating on stock is a 'strong buy' with median price target at 864.50 rupees - LSEG
(Reporting by Vijay Malkar)
** Shares of Jindal Stainless JIST.NS rise 3.2% to 626.05 rupees; set to snap four-session losing streak
** Brokerage Nuvama upgrades rating to 'buy' from 'hold' and raises PT to 836 rupees from 756 rupees
** Export demand, which is temporarily weak, is likely to pick up in FY26, brokerage says
** Cites normalcy in freight rates and expectations of increasing investment and infra spending after U.S. regime change
** Nuvama expects improvement in profitability from improved volumes, product mix and recovery in export market from FY26
** Profitability was hurt by weakness in export demand and higher supply in domestic market, note says
** Avg analysts' rating on stock is a 'strong buy' with median price target at 864.50 rupees - LSEG
(Reporting by Vijay Malkar)
EXCLUSIVE-As tariffs loom, Gillette-razor maker P&G sourcing more steel from India
P&G buying more steel from Indian manufacturer Jindal-data
Move could offset costs if Trump imposes steel tariffs
P&G shifting away from Japanese, Swedish manufacturers-data
By Jessica DiNapoli and Richa Naidu
NEW YORK, Dec 5 (Reuters) - Procter & Gamble PG.N has overhauled its supply chain for the tiny, extra-thin strips of stainless steel in its Gillette razors to source from India, a move expected to help protect its margins from any tariffs U.S. President-Elect Donald Trump may impose.
The stainless steel the Gillette-brand razor maker uses is highly specialized to prevent nicks and cuts and is only produced in large quantities by a handful of companies, none of which are located in the U.S., P&G has told the U.S. Commerce Department in public filings.
A Reuters analysis of import records over the past four years shows that P&G has shifted where it buys the stainless steel for its top grooming brands in the United States, its biggest market, to a cheaper Indian manufacturer, a move that may help it offset higher costs in Trump's second term.
The Cincinnati-based company now primarily obtains the steel for Gillette from New Delhi-based Jindal Stainless, JIST.NS according to the U.S. import records for P&G subsidiaries, including Gillette.
Investors view P&G as a top operator in the competitive consumer products industry, with its margins exceeding those of rivals like Kimberly-Clark. KMB.N
It's a pattern P&G hopes to keep after Trump takes office in early 2025. During his first term, P&G faced $1.4 billion in external costs including tariffs that ate into profits.
A P&G spokesperson confirmed that the company has worked with Jindal, adding that details of its relationships with business partners are competitively sensitive. A spokesperson added that "it would not be accurate to point to cost as the sole driver of any sourcing decision."
Previously P&G bought mostly pricier Japanese and Swedish steel for Gillette, according to the import records, provided exclusively to Reuters by ImportYeti. Hefty tariffs during Trump's first term added to the costs of Japanese and Swedish steel, although P&G eventually secured an exemption from them.
Trump, who has said "tariff" is his favorite word, has pitched a fresh roster of tariffs, targeting China, Mexico and Canada, putting consumer-product makers on the defensive.
P&G's Chief Financial Officer Andre Schulten said during meetings with investors on November 21 that the company will have to adjust its supply chain as it sees how Trump implements tariffs. Despite years of underperformance, recent strategies to improve its grooming business have been working, the division's CEO, Gary Coombe, said.
Making steel for shaving razors is labor-intensive, giving Indian manufacturers an edge on cost, said Markus Moll, managing director at Steel & Metals Market Research, an independent market research company. He estimates Jindal's steel is about 20-25% cheaper than competitors.
He added that Jindal has been manufacturing the material for about 15 to 20 years for Indian clients.
Jindal, which says it is the world's biggest maker of stainless steel for razor blades, has mainly supplied non-U.S. markets, an industry executive not permitted to speak to the media, said. Although Jindal has long had a relationship with P&G, P&G's imports from Jindal to the U.S. began in 2022, according to the records from ImportYeti, which compiles bills of lading. P&G imported at least 4,283,569 kilograms (4,721 U.S. tons) of stainless steel from Jindal over the past 36 months, according to the data.
Jindal did not comment specifically on the steel used in razor blades, P&G or its Gillette razors. Abhyuday Jindal, managing director of Jindal Stainless, said in a statement that the manufacturer works with its customers to "create value in their business and using pricing as a lever is our last priority."
Earlier this year, P&G said Jindal was a top supplier that "consistently performed at high levels," according to an internal company blog. The P&G spokesperson said that P&G constantly seeks new suppliers globally that can meet its needs, and that very few do. P&G has not made any substantive changes to its core suppliers, the spokesperson said.
According to the data reviewed by Reuters, P&G has cut back on its imports from Japan's Proterial and Sweden's Alleima ALLEI.ST. In this year through October, its imports from Proterial were nearly 59% less than in 2023, while P&G has received no steel shipments from Alleima this year, the data shows.
Gillette has been working with Proterial for more than 50 years, and Alleima for over 20, according to filings with the U.S. Commerce Department.
Alleima did not respond to requests for comment. Proterial declined to comment.
Grooming, P&G's smallest business by revenue, has faced years of struggles. During the pandemic, sales declined as men grew beards and shaved less. Before that, start-ups like Dollar Shave Club and Harry's were able to grab valuable market share from pricier Gillette. A four-pack of Gillette Labs Men's Razor Blade refills sells for nearly $29 at TGT.N Target.com, according to the retailer's website.
P&G's Gillette growing reliance on Indian stainless steel https://reut.rs/4htfpVA
P&G's gross, operating and net margins https://reut.rs/3OeSrE7
Top importers of stainless steel to the United States https://reut.rs/3BaXqTv
(Reporting by Jessica DiNapoli in New York and Richa Naidu in London; Editing by Vanessa O'Connell and Anna Driver)
((richa.naidu@tr.com; Follow me on X https://twitter.com/Richa_Writes; +44 755 755 9587;))
P&G buying more steel from Indian manufacturer Jindal-data
Move could offset costs if Trump imposes steel tariffs
P&G shifting away from Japanese, Swedish manufacturers-data
By Jessica DiNapoli and Richa Naidu
NEW YORK, Dec 5 (Reuters) - Procter & Gamble PG.N has overhauled its supply chain for the tiny, extra-thin strips of stainless steel in its Gillette razors to source from India, a move expected to help protect its margins from any tariffs U.S. President-Elect Donald Trump may impose.
The stainless steel the Gillette-brand razor maker uses is highly specialized to prevent nicks and cuts and is only produced in large quantities by a handful of companies, none of which are located in the U.S., P&G has told the U.S. Commerce Department in public filings.
A Reuters analysis of import records over the past four years shows that P&G has shifted where it buys the stainless steel for its top grooming brands in the United States, its biggest market, to a cheaper Indian manufacturer, a move that may help it offset higher costs in Trump's second term.
The Cincinnati-based company now primarily obtains the steel for Gillette from New Delhi-based Jindal Stainless, JIST.NS according to the U.S. import records for P&G subsidiaries, including Gillette.
Investors view P&G as a top operator in the competitive consumer products industry, with its margins exceeding those of rivals like Kimberly-Clark. KMB.N
It's a pattern P&G hopes to keep after Trump takes office in early 2025. During his first term, P&G faced $1.4 billion in external costs including tariffs that ate into profits.
A P&G spokesperson confirmed that the company has worked with Jindal, adding that details of its relationships with business partners are competitively sensitive. A spokesperson added that "it would not be accurate to point to cost as the sole driver of any sourcing decision."
Previously P&G bought mostly pricier Japanese and Swedish steel for Gillette, according to the import records, provided exclusively to Reuters by ImportYeti. Hefty tariffs during Trump's first term added to the costs of Japanese and Swedish steel, although P&G eventually secured an exemption from them.
Trump, who has said "tariff" is his favorite word, has pitched a fresh roster of tariffs, targeting China, Mexico and Canada, putting consumer-product makers on the defensive.
P&G's Chief Financial Officer Andre Schulten said during meetings with investors on November 21 that the company will have to adjust its supply chain as it sees how Trump implements tariffs. Despite years of underperformance, recent strategies to improve its grooming business have been working, the division's CEO, Gary Coombe, said.
Making steel for shaving razors is labor-intensive, giving Indian manufacturers an edge on cost, said Markus Moll, managing director at Steel & Metals Market Research, an independent market research company. He estimates Jindal's steel is about 20-25% cheaper than competitors.
He added that Jindal has been manufacturing the material for about 15 to 20 years for Indian clients.
Jindal, which says it is the world's biggest maker of stainless steel for razor blades, has mainly supplied non-U.S. markets, an industry executive not permitted to speak to the media, said. Although Jindal has long had a relationship with P&G, P&G's imports from Jindal to the U.S. began in 2022, according to the records from ImportYeti, which compiles bills of lading. P&G imported at least 4,283,569 kilograms (4,721 U.S. tons) of stainless steel from Jindal over the past 36 months, according to the data.
Jindal did not comment specifically on the steel used in razor blades, P&G or its Gillette razors. Abhyuday Jindal, managing director of Jindal Stainless, said in a statement that the manufacturer works with its customers to "create value in their business and using pricing as a lever is our last priority."
Earlier this year, P&G said Jindal was a top supplier that "consistently performed at high levels," according to an internal company blog. The P&G spokesperson said that P&G constantly seeks new suppliers globally that can meet its needs, and that very few do. P&G has not made any substantive changes to its core suppliers, the spokesperson said.
According to the data reviewed by Reuters, P&G has cut back on its imports from Japan's Proterial and Sweden's Alleima ALLEI.ST. In this year through October, its imports from Proterial were nearly 59% less than in 2023, while P&G has received no steel shipments from Alleima this year, the data shows.
Gillette has been working with Proterial for more than 50 years, and Alleima for over 20, according to filings with the U.S. Commerce Department.
Alleima did not respond to requests for comment. Proterial declined to comment.
Grooming, P&G's smallest business by revenue, has faced years of struggles. During the pandemic, sales declined as men grew beards and shaved less. Before that, start-ups like Dollar Shave Club and Harry's were able to grab valuable market share from pricier Gillette. A four-pack of Gillette Labs Men's Razor Blade refills sells for nearly $29 at TGT.N Target.com, according to the retailer's website.
P&G's Gillette growing reliance on Indian stainless steel https://reut.rs/4htfpVA
P&G's gross, operating and net margins https://reut.rs/3OeSrE7
Top importers of stainless steel to the United States https://reut.rs/3BaXqTv
(Reporting by Jessica DiNapoli in New York and Richa Naidu in London; Editing by Vanessa O'Connell and Anna Driver)
((richa.naidu@tr.com; Follow me on X https://twitter.com/Richa_Writes; +44 755 755 9587;))
India's Jindal Stainless falls on Q2 profit decline
** Shares of Jindal Stainless JIST.NS fall as much as 3.9% to 730.5 rupees
** The stainless steel maker's Q2 consol profit after tax fell 20% YoY to 6.09 bln rupees ($72.5 mln), Q2 revenue marginally down at 97.77 bln rupees
** Stock set to fall for third straight week
** More than 1 mln shares traded, 1.6x times their 30-day moving avg
** Avg rating of the nine analysts is "buy" and median PT is 859 rupees, ~16% higher than current price - LSEG data
** JIST up 29.7% YTD, set to rise for sixth straight year
($1 = 84.0440 Indian rupees)
(Reporting by Anuran Sadhu in Bengaluru)
((Anuran.Sadhu@thomsonreuters.com; +91 8697274436;))
** Shares of Jindal Stainless JIST.NS fall as much as 3.9% to 730.5 rupees
** The stainless steel maker's Q2 consol profit after tax fell 20% YoY to 6.09 bln rupees ($72.5 mln), Q2 revenue marginally down at 97.77 bln rupees
** Stock set to fall for third straight week
** More than 1 mln shares traded, 1.6x times their 30-day moving avg
** Avg rating of the nine analysts is "buy" and median PT is 859 rupees, ~16% higher than current price - LSEG data
** JIST up 29.7% YTD, set to rise for sixth straight year
($1 = 84.0440 Indian rupees)
(Reporting by Anuran Sadhu in Bengaluru)
((Anuran.Sadhu@thomsonreuters.com; +91 8697274436;))
India's Jindal Stainless eyes higher sales in Canada
NEW DELHI, Oct 17 (Reuters) - India's Jindal Stainless JIST.NS is targeting increasing sales in Canada if the North American country imposes duties on Chinese products, Managing Director Abhyuday Jindal said on Thursday.
"If this duty comes on China then we will be able to push even more volumes into Canada," Jindal said at a post-results news conference.
(Reporting by Neha Arora in New Delhi, writing by Manvi Pant; Editing by Savio D'Souza)
((Manvi.Pant@thomsonreuters.com; +918447554364;))
NEW DELHI, Oct 17 (Reuters) - India's Jindal Stainless JIST.NS is targeting increasing sales in Canada if the North American country imposes duties on Chinese products, Managing Director Abhyuday Jindal said on Thursday.
"If this duty comes on China then we will be able to push even more volumes into Canada," Jindal said at a post-results news conference.
(Reporting by Neha Arora in New Delhi, writing by Manvi Pant; Editing by Savio D'Souza)
((Manvi.Pant@thomsonreuters.com; +918447554364;))
Jindal Stainless Partners With CJ Darcl
Sept 30 (Reuters) - Jindal Stainless Ltd JIST.NS:
JINDAL STAINLESS - PARTNERS WITH CJ DARCL
JINDAL STAINLESS - JINDAL STAINLESS PARTNERS WITH CJ DARCL
JINDAL STAINLESS - TO DEVELOP LIGHTWEIGHT AND SUSTAINABLE STAINLESS STEEL CONTAINERS
Source text for Eikon: ID:nBSE81rgfz
Further company coverage: JIST.NS
Sept 30 (Reuters) - Jindal Stainless Ltd JIST.NS:
JINDAL STAINLESS - PARTNERS WITH CJ DARCL
JINDAL STAINLESS - JINDAL STAINLESS PARTNERS WITH CJ DARCL
JINDAL STAINLESS - TO DEVELOP LIGHTWEIGHT AND SUSTAINABLE STAINLESS STEEL CONTAINERS
Source text for Eikon: ID:nBSE81rgfz
Further company coverage: JIST.NS
Jindal Stainless Supplies Stainless Steel For Vande Bharat Sleeper Train
Sept 5 (Reuters) - Jindal Stainless Ltd JIST.NS:
SUPPLIES STAINLESS STEEL FOR VANDE BHARAT SLEEPER TRAIN
Source text for Eikon: ID:nBSE69bHvQ
Further company coverage: JIST.NS
Sept 5 (Reuters) - Jindal Stainless Ltd JIST.NS:
SUPPLIES STAINLESS STEEL FOR VANDE BHARAT SLEEPER TRAIN
Source text for Eikon: ID:nBSE69bHvQ
Further company coverage: JIST.NS
Jindal Stainless Commissions Nickel Pig Iron Facility In Indonesia Ahead Of Schedule- Statement
Aug 14 (Reuters) - Jindal Stainless Ltd JIST.NS:
JINDAL STAINLESS COMMISSIONS ITS NICKEL PIG IRON FACILITY IN INDONESIA AHEAD OF SCHEDULE- STATEMENT
JINDAL STAINLESS COMMISSIONS INDONESIA NICKEL PIG IRON FACILITY 8 MONTHS AHEAD OF TIMELINE
Further company coverage: JIST.NS
Aug 14 (Reuters) - Jindal Stainless Ltd JIST.NS:
JINDAL STAINLESS COMMISSIONS ITS NICKEL PIG IRON FACILITY IN INDONESIA AHEAD OF SCHEDULE- STATEMENT
JINDAL STAINLESS COMMISSIONS INDONESIA NICKEL PIG IRON FACILITY 8 MONTHS AHEAD OF TIMELINE
Further company coverage: JIST.NS
Jindal Stainless Accredited As Qualified Vendor By Brahmos Aerospace
Aug 12 (Reuters) - Jindal Stainless Ltd JIST.NS:
CO ACCREDITED AS QUALIFIED VENDOR BY BRAHMOS AEROSPACE
Further company coverage: JIST.NS
Aug 12 (Reuters) - Jindal Stainless Ltd JIST.NS:
CO ACCREDITED AS QUALIFIED VENDOR BY BRAHMOS AEROSPACE
Further company coverage: JIST.NS
Jindal Stainless Says Co To Consider Proposal For Raising Of Further Capital
July 25 (Reuters) - Jindal Stainless Ltd JIST.NS:
JINDAL STAINLESS - TO CONSIDER PROPOSAL FOR RAISING OF FURTHER CAPITAL
Further company coverage: JIST.NS
July 25 (Reuters) - Jindal Stainless Ltd JIST.NS:
JINDAL STAINLESS - TO CONSIDER PROPOSAL FOR RAISING OF FURTHER CAPITAL
Further company coverage: JIST.NS
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What does Jindal Stainless do?
Jindal Stainless Limited (JSL) is a leading stainless steel conglomerate in India, known for its digital transformation journey and a wide range of stainless steel products including slabs, coils, plates, and precision strips.
Who are the competitors of Jindal Stainless?
Jindal Stainless major competitors are SAIL, Shyam Metalics&Ener, Sarda Energy&Min., Gallantt Ispat, Usha Martin, Lloyds Enterprises, Mishra Dhatu Nigam. Market Cap of Jindal Stainless is ₹59,173 Crs. While the median market cap of its peers are ₹13,436 Crs.
Is Jindal Stainless financially stable compared to its competitors?
Jindal Stainless seems to be less financially stable compared to its competitors. Altman Z score of Jindal Stainless is 3.98 and is ranked 4 out of its 8 competitors.
Does Jindal Stainless pay decent dividends?
The company seems to be paying a very low dividend. Investors need to see where the company is allocating its profits. Jindal Stainless latest dividend payout ratio is 9.86% and 3yr average dividend payout ratio is 9.57%
How has Jindal Stainless allocated its funds?
Companies resources are allocated to majorly productive assets like Plant & Machinery and unproductive assets like Inventory
How strong is Jindal Stainless balance sheet?
Balance sheet of Jindal Stainless is strong. But short term working capital might become an issue for this company.
Is the profitablity of Jindal Stainless improving?
The profit is oscillating. The profit of Jindal Stainless is ₹2,990 Crs for TTM, ₹2,505 Crs for Mar 2025 and ₹2,713 Crs for Mar 2024.
Is the debt of Jindal Stainless increasing or decreasing?
Yes, The net debt of Jindal Stainless is increasing. Latest net debt of Jindal Stainless is ₹4,211 Crs as of Sep-25. This is greater than Mar-25 when it was ₹1,759 Crs.
Is Jindal Stainless stock expensive?
Yes, Jindal Stainless is expensive. Latest PE of Jindal Stainless is 20.12, while 3 year average PE is 15.69. Also latest EV/EBITDA of Jindal Stainless is 12.27 while 3yr average is 10.08.
Has the share price of Jindal Stainless grown faster than its competition?
Jindal Stainless has given lower returns compared to its competitors. Jindal Stainless has grown at ~39.83% over the last 4yrs while peers have grown at a median rate of 47.18%
Is the promoter bullish about Jindal Stainless?
Promoters stake in the company seems stable, and we need to go through filings and allocation of resources to gauge promoter bullishness. Latest quarter promoter holding in Jindal Stainless is 61.23% and last quarter promoter holding is 61.23%.
Are mutual funds buying/selling Jindal Stainless?
The mutual fund holding of Jindal Stainless is increasing. The current mutual fund holding in Jindal Stainless is 3.12% while previous quarter holding is 2.89%.