Edelweiss revised upward JSPL's FY18 and FY19 volumes estimates by 5 percent and 12 percent, respectively. It also raised target price of the stock to Rs 160 from Rs 97 earlier as it is trading at a sharp discount to 15 years' trading average.
Jindal Steel & Power (JSPL) will commission the blast furnace at Angul, Odisha by early April to add an additional 3.5 million tonnes capacity, its Managing Director and CEO Ravi Uppal said.
NSE FinWiz Season 4 educates the employees of Nalco at Angul, Orissa on the importance of financial planning.
According to Goldman's estimates there is a limited potential valuation upside with a further capex of Rs 450 crore. It belives that smelter utilisation is unlikely to be impacted as the supply from these blocks will replace existing linkage supply while expect transportation costs are likely to be lower.
JSW Energy has board nod to raise funds worth Rs 5000 crore for acquisitions. It also has understanding to acquire two thermal power plants of JP Associates - 500 MW at Bina in Madhya Pradesh and 1,320 MW at Nigrie, MP.
"The CTL project was linked with the coal block. If the coal block is gone, then the project is gone," JSPL Chairman Naveen Jindal told PTI in an interview. JSPL was allotted Ramchandi Promotional Coal Block, with an estimated reserve of 1,500 million tonnes on February 27, 2009 for the project.
Jindal Steel and Power today said it plans to set up a 7 million tonnes per annum (mtpa) pellet plant at Angul in Odisha with an investment of up to Rs 1,400 crore.
"This year we have a capital expenditure target of Rs 12,000 crore for both steel and power together. Next year, it will be about Rs 11,000-12,000 crore, so it will be about Rs 24,000 crore investment in 2 years," JSPL's Managing Director and CEO Ravi Uppal told PTI.
National Aluminium Co Ltd's 460,000 tonne per annum capacity plant at Angul in east Odisha awaits to resume complete operations until global prices of aluminium recover.
An ash pond of the National Aluminium Company Limited (NALCO) at Angul leaked today and the leakage was arrested by the company later in the day.
Commercial production of the proposed Rs 45,000 crore Coal-to-Liquid (CTL) plant in Angul is likely to start in 2017-18, Executive Director of Jindal Steel and Power (JSPL), Angul, Rajesh Jha said.
Jindal Steel and Power's (JSPL) integrated steel plant at Angul in Orissa has once again hit a green hurdle with Union Environment Ministry today directing the state Government to take action against it for allegedly violating the forest rules.