Page 2 - Jsw

JSW, Odisha govt tie up for Rs 40K cr integrated EV manufacturing facility

The JSW group on Saturday signed a Memorandum of Understanding with the Odisha government for establishment of an Integrated Electric Vehicle (EV) and EV Battery manufacturing project at an investment of Rs 40,000 crore in the state. At Naraj in Cuttack district the JSW group will set up an EV vehicle, and component manufacturing plant, while at Paradip in Jagatsinghpur district, it will set up a copper smelter and lithium refinery. The project consists of a 50 GWH EV battery plant, EV, lithium refinery, copper smelter and related component manufacturing units. The MoU was signed two weeks after the state cabinet approved a special incentive package for the group's ambitious EV and component manufacturing projects at Naraj in Cuttack and Paradip in Jagatsinghpur district. Speaking on the occasion, Chief Minister Naveen Patnaik said this day marks a great leap forward in the state's journey towards industrial excellence and sustainable development.. "Powered by the 5T ...

JSW Paints sees business revenue at Rs 2,200 crore by end of FY24

The company has already broken even at an operating level during the year, and its earnings before interest, tax, depreciation, and amortisation (EBIDTA) margins are expected to be in single digits

JSW Paints Q3 result: Revenue at Rs 1,500 cr; may become profitable in FY24

JSW Paints, an unlisted entity of diversified conglomerate JSW Group, on Tuesday said its revenues touched Rs 1,500 crore in the first nine months of FY24 and is confident of turning profitable in the current fiscal. The company is aiming to close FY24 with a topline of over Rs 2,000 crore, as per an official statement. JSW Paints also added that it is confident of turning profitable in FY24. It had closed FY22 with a Rs 1,000 crore revenue. The paints category has seen mega investments by conglomerates including the Sajjan Jindal-led JSW and also the Aditya Birla Group. The sector has been long dominated by companies such as Asian Paints. In the statement issued on Tuesday, the company said it is confident of achieving the next Rs 1,000 crore of revenue in a shorter time period. Managing director Parth Jindal said the company has achieved the Rs 2,000 crore yearly revenue run rate quickly after launching water-based offerings. The company said it is adding 2,000 retailers every

CCI approves JSW Ventures' proposed stake acquisition in MG Motor India

Fair trade regulator CCI on Tuesday said it has granted approval to JSW Group's proposed acquisition of a stake in MG Motor India Pvt Ltd. MG Motor India is a wholly-owned subsidiary of Shanghai-headquartered SAIC Motor. The deal is to be done through JSW Ventures Singapore Pte, a newly incorporated entity that is part of the Sajjan Jindal-led JSW Group. The proposed transaction relates to the acquisition of up to approximately 46 per cent of the share capital of the MG Motor India Pvt Ltd along with certain special rights by the JSW Ventures Singapore Pte, as per the notice submitted to the Competition Commission of India (CCI) by the entities. As per an update on CCI's website on Tuesday, the regulator has approved the proposed deal.

JSW to invest Rs 9,000 crore for setting up 1,500 MW pumped storage project

JSW Neo Energy, a subsidiary of JSW Energy, has announced establishment of a pumped storage project with a generation capacity of 1,500 MW, at an outlay of Rs 9,000 crore in Telangana. An official release issued on Wednesday said a Memorandum of Understanding (MoU) was signed between the state government and JSW Neo Energy at the World Economic Forum being held in Davos. Sajjan Jindal, Chairman, JSW Group, met with Chief Minister of Telangana A Revanth Reddy on the sidelines of WEF and announced the plan for setting up the project, it said. JSW Neo Energy, a wholly owned subsidiary of JSW Energy that focuses on renewable and new energy solutions, will be responsible for setting up the proposed project in Telangana. Assuring all necessary support for the project, Revanth Reddy said JSW is a key partner for the State in its journey towards clean and green energy and the government is keen to collaborate with JSW for their future projects in India. Sajjan Jindal expressed his gratitu

JSW Renew Energy commissions 51 MW wind energy capacity in Tamil Nadu

JSW Renew Energy has commissioned the first phase of 51 MW capacity of its 810 MW wind energy project in Tamil Nadu, the company said in a statement on Tuesday. The project has a power purchase agreement with Solar Energy Corporation of India (SECI) for 25 years, the statement said. JSW Renew Energy Ltd, a wholly owned step-down subsidiary of JSW Energy, has started phase-wise commissioning of the 810 MW (Inter State Transmission System) ISTS-connected wind power project awarded under SECI tranche IX in Tamil Nadu with commissioning of the first phase of 51 MW, as per the statement. With this, the total current installed capacity has gone up to 6,822 MW while the under-construction capacity stands at 2,969 MW, which is likely to be commissioned in phases over the next 12 months, it said. JSW Energy Joint Managing Director and CEO Prashant Jain said, "We are happy to announce that we have started commissioning the SECI-IX wind project which is the first and largest greenfield wind .

Ford Motor cancels deal to sell its Tamil Nadu plant to JSW Group

The JSW Group had finalised an agreement to buy the Ford plant for around $100 million, but Ford called off the deal as it is no longer looking to sell the factory

Shares of India's JSW Group drop after rape allegation against chairman

Shares of JSW Group fell as much as 5% on Monday, a day after its billionaire Chairman Sajjan Jindal said that local media reports accusing him of rape were "false and baseless".

JSW USA to raise $145 mn loan for capex Moody's affirms stable ratings

Company's reliance on long-term external financing will be critical, says agency

JSW Steel reports 11% rise in consolidated crude steel production in Nov

JSW's consolidated crude steel production was at 1.94 MT in the same month last year

JSW Steel completes Rs 750 cr investment in JSW Paints to fuel expansion

JSW Steel on Thursday said it has completed the Rs 750 crore investment in JSW Paints Pvt Ltd (JSW Paints). Like JSW Steel, JSW Paints is a group company of Sajjan Jindal-owned JSW Group. In a regulatory filing, JSW Steel said it has completed the last tranche of investment of around Rs 75 crore in JSW Paints on Wednesday. "With the last tranche of investment of Rs 74,99,99,903, the company has completed making the entire investment of Rs 750,00,00,000 in JSW Paints and has been intimated by JSW Paints today that it has on November 22, 2023, completed the allotment in respect of the aforesaid strategic investment," the filing said. Post this allotment, the company holds 2,94,82,565 equity shares in JSW Paints, representing 12.84 per cent of the issued and paid-up equity capital of JSW Paints (11.85 per cent on a fully diluted basis). On July 23, 2021, the JSW Steel board approved to make a strategic investment of Rs 750 crore in JSW Paints in 3-4 tranches between between FY 2021-2

Manipal Group invests in Purplle with secondary purchase from JSW Ventures

With this transaction, JSW Ventures has fully exited its stake in Purplle from Fund I and has returned 2.7 times the fund size to its investors so far

JSW Steel declared preferred bidder for Karnataka's iron ore mine

JSW Steel on Wednesday said it has emerged as the preferred bidder for the Jaisinghpura North Block iron ore mine in Karnataka. JSW Steel has received a communication from the Karnataka government in this regard, the company informed the exchanges. "The Company has been declared as a preferred bidder vide communication dated October 11, 2023, received from the Office of the Director, Department of Mines and Geology, Government of Karnataka, for Jaisinghpura North Block, in the Auction held on August 2, 2023," the filing said. The highest final offer price by the company to become a "Preferred Bidder" is 150.3 per cent of the value of the mineral dispatched. The projected iron ore resource is 17.66 in MMT (metric million tonnes). The company will take all requisite steps as per the tender document to obtain a letter of intent, and all statutory clearances to execute the Lease Deed with Mine Development and Production Agreement (MDPA), and start the mining operations. Part of JSW Gr

JSW Infrastructure shares jump over 32% to settle at Rs 157 in debut trade

Shares of JSW Infrastructure, a part of JSW Group, on Tuesday made a remarkable market debut and ended with a premium of over 32 per cent against the issue price of Rs 119. The stock made its debut at Rs 143, registering a jump of 20.16 per cent from the issue price on the BSE. It rallied 32.18 per cent to settle at Rs 157.30. At the NSE, it listed at Rs 143. Shares of the company ended at Rs 157.30 apiece, climbing 32.18 per cent. The company commanded a market valuation of Rs 33,033.02 crore. In traded volume terms, 57.99 lakh shares of the company were traded at the BSE and over 12.21 crore shares at the NSE during the day. In the equity market, the 30-share BSE Sensex declined 316.31 points or 0.48 per cent to settle at 65,512.10. The Nifty fell 109.55 points or 0.56 per cent to end at 19,528.75. The Initial Public Offering (IPO) of JSW Infrastructure was subscribed 37.37 times on the last day of bidding on Wednesday. The Rs 2,800-crore IPO had a price range of Rs 113-119 pe

JSW Infrastructure has huge potential to grow its business: Sajjan Jindal

Commercial ports operator JSW Infrastructure, which got listed on the bourses on Tuesday, said it has a huge potential to grow its business and aims to become a global company, JSW Group Chairman Sajjan Jindal has said. Speaking at the listing event, Jindal cited the example of Singapore and said that it is a City-State and handles more cargo than all of India. "We can also create such ports which handle not just our own cargo but also of the countries around us," he said. "We cannot think only India centric, we have to think global and we have to really build ourselves as a global company. So we have to really think at those levels," he said. Jindal further said that India has a large coastline and logistics cost in the country is among the highest in the world. "The cost of transporting goods in India is the highest, So JSW Infra has a huge potential to grow its business to create what the government has created, CONCOR," Jindal said. A Public Sector Undertaking, CONCOR (Contain

Digikore Studios subscribed 282x, JSW Infra subscribed 37.37x on last day

The Rs 30-crore initial public offering (IPO) of Digikore Studios (on the National Sto­ck Exchange's SME platform) garn­ered 282 times subscription, attracting bids worth Rs 5,407 crore

Digikore Studios subscribed 282x, JSW Infra subscribed 37.37x on last day

The Rs 30-crore initial public offering (IPO) of Digikore Studios (on the National Sto­ck Exchange's SME platform) garn­ered 282 times subscription, attracting bids worth Rs 5,407 crore

Sebi extends deadline demat a/c nomination; SBI MF promotes DP Singh

In March, the regulator had extended the deadline from March 31 to September 30

JSW Infra IPO subscribed 43%; SME stocks to come under surveillance

Updater Services IPO subscribed 6 per cent on day 1

Brokerages recommend JSW Infra IPO, cite firm's govt contracts among risks

Sajjan Jindal company is the third listing by the JSW Group and it comes after a gap of 13 years