On the sectoral front, except IT, FMCG, pharma and energy other indices ended in the green. BSE Midcap and Smallcap indices rose 0.5 percent each.
Railway Board has accepted the field performance test report of RDSO and considered UIC 60 kg, 880 Grade prime (Class- A) rails are suitable for use in Indian Railways, it added.
The main point of concern is operating performance of international subsidiaries of Jindal Steel and Power and their higher debt
The raging anti-China sentiment notwithstanding, JSPL has latched on to the export opportunity in the country, and other markets like Europe, to post a record quarterly EBITDA
During April-June 2020, the company's total income declined to Rs 9,281.88 crore from Rs 9,945.58 crore in the year-ago quarter, JSPL said in a BSE filing on Wednesday.
Omaxe is using the advanced steel structure technology to develop a multi-level parking-cum-commercial project.
JSPL results beat the Street’s expectation on the back of higher realisation, better gross margin due to iron ore from Sarda Mines and better performance from Oman.
In April this year, its consolidated sales also reduced by 29 percent to 4.55LT from 6.42MT in the corresponding period a year ago.
With this, JSPL has come to be acknowledged as one of the regular suppliers to France Railways. Similarly, Britain and Australia have expressed interest and they are expected to place orders as well
These special rails are used in high-speed freight corridors and metro rail projects.
"These promoter companies have repaid loans of around Rs 391 crore out of total debt amount Rs 747 crore as on December 3, 2019," the official said.
During FY20, JSPL registered a growth of 12 percent in output, while the sales have registered a rise of 10 percent.
JSPL is the only Indian private player that supplies the long rails to Indian Railways
"Following the recent order by Supreme Court it has started transportation of already-processed and royalty-paid iron ore from its supplier's mines in district Keonjhar, Odisha," JSPL said in a filing to BSE.
The plant was not operational for long due to the scarcity of coal. Now Coal India Ltd (CIL) and its arm Mahanadi Coalfields Ltd have started selling coal in adequate quantity, therefore gasification and DRI operations have resumed.
The company's crude steel output had stood at 1.32 million tonnes in the corresponding period last year, JSPL said in a statement.
In July 2018, JSPL had bagged from Indian railways an order to supply one lakh tonne of rails. In February 2019, the company was again given an additional order of about 30,000 tonne long rails from the national transporter.
Nifty Midcap added 2.5 percent, the top gainers are Cholamandalam Investment, Dewan Housing Finance, Castrol India, Dish TV, Exide Industries and M&M Financial Services.
928 stocks advanced and 806 declined while 361 remained unchanged on the NSE. On the BSE, 1238 stocks advanced, 1095 declined and 143 remained unchanged.
In 2016, Franklin Templeton India AMC had bought the troubled Jindal Steel and Power Ltd's debt securities from its debt schemes after these papers were downgraded twice earlier that year.
The company achieved highest ever annual production and dispatch at its 9 MTPA pelletization complex at Barbil, Odisha with output of 7.07 MT pellets in the previous financial year, JSPL said in a BSE filing.
The breadth of the market favoured the declines as 720 stocks advanced and 941 declined while 425 remained unchanged. On the BSE, 1,008 stocks advanced, 1,233 declined and 162 remained unchanged.
Trade talks with China are progressing "very well", US President Donald Trump said, as top negotiators from the two countries Thursday began meetings to resolve their tariff war.
The breadth of the market favoured the declines with 714 stocks advancing and 964 declining while 395 remained unchanged. On the BSE, 1050 stocks advanced, 1288 declined and 132 remained unchanged.
The clarification has been given as part of an informal guidance sought by Jindal Steel & Power Ltd (JSPL) regarding the applicability of ICDR (Issue of Capital and Disclosure Requirements) with respect to such warrants.