Jsw Steel

Jsw Steel News

JSW Steel plans to ramp up production capacity; firm mulls to implement total quality management in all units
Business

JSW Steel plans to ramp up production capacity; firm mulls to implement total quality management in all units

JSW Steel on Thursday said it has plans to increase its manufacturing capacity to 44-45 million tonnes per annum by 2030 from the present 19 million tonnes.

JSW Steel to invest over Rs 5,000 cr for strengthening downstream manufacturing capacity
Business

JSW Steel to invest over Rs 5,000 cr for strengthening downstream manufacturing capacity

The investment in downstream capabilities by JSW Steel is aimed at capitalising the incremental demand expected to be generated across sectors for specialised steel.

JSW Steel Q2 net profit jumps over two-fold to Rs 2,087 cr, total income up 25% to Rs 21,608 cr
Business

JSW Steel Q2 net profit jumps over two-fold to Rs 2,087 cr, total income up 25% to Rs 21,608 cr

JSW Steel's total expenses swelled to Rs 18,583 crore during the quarter under review as against Rs 16,005 crore in the corresponding period of the previous fiscal.

Coal import scam: Bombay High Court grants interim relief to Adani Group from DRI
Business

Coal import scam: Bombay High Court grants interim relief to Adani Group from DRI

Last month, Adani Enterprises had filed a plea in the Bombay High Court seeking quashing of all LRs against its firms that are under probe for alleged over-invoicing of Indonesian coal imports.

No communication received from ArcelorMittal with regard to modalities of payment: Uttam Galva
Business

No communication received from ArcelorMittal with regard to modalities of payment: Uttam Galva

ArcelorMittal had submitted a revised offer for Essar Steel which also included a commitment to pay Rs 7,000 crore dues to the financial creditors of Uttam Galva and KSS Petron to be eligible in the race to acquire the debt-laden firm.

ArcelorMittal sweetens offer for Essar Steel; submits revised proposal to committee of creditors
Business

ArcelorMittal sweetens offer for Essar Steel; submits revised proposal to committee of creditors

World's leading steel giant ArcelorMittal has sweetened its offer for Essar Steel, as the bids received in the second round for the debt-ridden firm were opened by its lenders on Monday.

Essar Steel insolvency: Second round bids put in by Numetal, ArcelorMittal and Vedanta to be opened today
Business

Essar Steel insolvency: Second round bids put in by Numetal, ArcelorMittal and Vedanta to be opened today

The Resolution Professional, overseeing the auction of Essar Steel to recover over Rs 49,000 crore of unpaid loans, sent emails to all the three bidders to be present on Monday

Essar Steel insolvency: NCLAT says second round of bids by NuMetal, Vedanta are valid
Business

Essar Steel insolvency: NCLAT says second round of bids by NuMetal, Vedanta are valid

A two-member bench of the NCLAT headed by Chairman Justice S J Mukhopadhaya directed lenders of the Essar Steel to expeditiously take a decision.

JSW Steel, promoters acquire around 88% stake in bankrupt Monnet Ispat after NCLT approves Rs 2,875 cr bid
Business

JSW Steel, promoters acquire around 88% stake in bankrupt Monnet Ispat after NCLT approves Rs 2,875 cr bid

Monnet Ispat, once one of the country's foremost steelmakers, ran a successful coal-based sponge iron plant with an annual capacity of 1.5 million tonnes in Chhattisgrah

Indian companies' foreign investment declines 36% to $1.39 bn in July, shows RBI data
Business

Indian companies' foreign investment declines 36% to $1.39 bn in July, shows RBI data

Of the $1.39 billion invested in July this year, $608.52 million was the equity capital, $406.74 million was through loan and $371.86 million came in the form of issuance of guarantees.

Tata Steel, JSW, Liberty House submit bids for debt-ridden Bhushan Power & Steel's assets
Business

Tata Steel, JSW, Liberty House submit bids for debt-ridden Bhushan Power & Steel's assets

On 6 August, the National Company Law Appellate Tribunal (NCLAT) had extended the deadline for submission of revised bids for Bhushan Power and Steel by one week on the plea of Tata Steel, a resolution applicant in this

Bhushan Steel case: SFIO arrests former promoter and vice chairman Neeraj Singhal for fund diversion
Business

Bhushan Steel case: SFIO arrests former promoter and vice chairman Neeraj Singhal for fund diversion

Bhushan Steel is one of the 12 big cases that had been referred for insolvency resolution by banks.

NCLAT extends deadline for submission of revised bids for Bhushan Power & Steel on plea of Tata Steel
Business

NCLAT extends deadline for submission of revised bids for Bhushan Power & Steel on plea of Tata Steel

Bhushan Power and Steel was among the 12 non-performing accounts referred by RBI for NCLT proceedings.

Aion Investments, JSW Steel to pay Rs 2,892 crore to pick 74.3% stake in Monnet Ispat
Business

Aion Investments, JSW Steel to pay Rs 2,892 crore to pick 74.3% stake in Monnet Ispat

The bankrupt Monnet Ispat owes over Rs 11,000 crore to a clutch of lenders.

JSW Steel Apr-Jun quarter net profit jumps three-fold to Rs 2339 cr, total income up 25%
Business

JSW Steel Apr-Jun quarter net profit jumps three-fold to Rs 2339 cr, total income up 25%

JSW Steel's total income in the April-June quarter increased to Rs 20,577 crore from Rs 16,412 crore in the year-ago period

Bhushan Power & Steel insolvency: NCLAT allows lenders to meet and finalise bid for the debt-ridden company
Business

Bhushan Power & Steel insolvency: NCLAT allows lenders to meet and finalise bid for the debt-ridden company

Vacating its earlier stay, the appellate tribunal has directed the committee of creditors (CoC) of the company to consider the resolution plans submitted by three firms -- Tata Steel, Liberty House and JSW Steel

Monnet Ispat bankruptcy: Aion Investments-JSW Steel consortium wins bid, lenders to take 74% haircut
Business

Monnet Ispat bankruptcy: Aion Investments-JSW Steel consortium wins bid, lenders to take 74% haircut

Aion-JSW consortium was sole bidder for 1.5 million tonne asset of Monnet Ispat in Chhattisgarh. JSW Steel said the detailed NCLT order is awaited

JSW Steel to revamp acquisition strategy post recent setbacks, aims to take over smaller plants in India and abroad
Business

JSW Steel to revamp acquisition strategy post recent setbacks, aims to take over smaller plants in India and abroad

JSW Steel, India’s biggest steelmaker in terms of domestic capacity, failed to outbid rival Tata Steel in March for bankrupt steelmaker Bhushan Steel

ArcelorMittal seeks disqualification of Russia's VTB Capital-backed NuMetal's bid for Essar Steel acquisition
Business

ArcelorMittal seeks disqualification of Russia's VTB Capital-backed NuMetal's bid for Essar Steel acquisition

Locked in a direct fight to acquire Essar Steel, ArcelorMittal on Thursday sought disqualification of Russia's VTB Capital-backed NuMetal Ltd, alleging that the firm was acting in concert with delinquent promoters of Essar group