The acquisition is central to JSW Group’s renewed push into the paints business, an area the conglomerate has long viewed as a natural adjacency to its steel and cement portfolio.
The deal, if concluded, would significantly expand JSW's footprint in the domestic paints sector, where it operates through JSW Paints, a relatively recent entrant
The company unveiled 'Strategy 3.0' targeting 30 GW of generation capacity by 2030 along with 40 GWh of energy storage, up from the previous goal of 20 GW generation capacity.
Jindal said that the Salav plant will initially use natural gas injection in the blast furnace, with plans to transition to green hydrogen at a later stage. “The plant’s carbon emissions will be reduced to one-fifth of current levels,” Jindal said.
Speaking to Moneycontrol in Davos, Parth Jindal confirmed that JSW Cement is poised to become the group’s fourth listed entity.
'Everybody is threatened and feel that if they don't put tariffs, then their industry is going to shut down," Jindal has said
The initial share sale would be the cement sector's first major offering since Nuvoco Vistas' Rs 5,000 crore IPO in August 2021 and comes at a time when the segment is witnessing an m&a tussle between the Birla group and the Adani group.
The loss of the rights has triggered a legal battle between MdR and Mozambique’s government, leaving JSW as an observer. It comes at a critical time for the country, after disputed elections last October triggered demonstrations in which at least 278 people have died.
JSW Energy eyes 20 GW of power generation capacity and 40 GWh / 5 GW of energy storage by 2030.
The group, through its joint venture company JSW MG Motor India, entered the electric vehicle space earlier this year and currently relies on the Chinese company for technology.
Jindal sees the foray into auto business as opportune at a moment when the sector is transitioning to EVs and new technologies
Speaking exclusively to Moneycontrol, Jindal said that China’s overcapacity in steel production is flooding global markets, with the country’s exports matching India’s entire steel production output
Sajjan Jindal called the collaboration a 'significant step' forward for the group, adding that India presents "tremendous opportunities" for sustainable growth.
Sajjan Jindal-led JSW Steel announced a marginal increase of 1% in consolidated crude steel production for August, reaching 23.16 lakh tonnes (LT), compared to 22.86 LT in the same period last year.
The development assumes significance as most major global banks have limited their exposure to fossil fuel assets amidst growing global pressure over climate change, making it difficult for companies to access funds for financing the acquisition of such assets.
'Delighted to announce that every Olympic medalist from Team India will be gifted an MG Windsor, a remarkable car from JSW MG India! Because our best deserve the best, for their dedication and success!' Sajjan Jindal posted on X.
In 2023-24, India imported 8.3 million tonnes of steel, which exceeded exports of 7.5 million tonnes
In the run-up to the listing, Sajjan Jindal-led JSW Group will increase its stake in JSW MG Motor India from 35 percent to up to 51 percent at regular intervals
The management said that the highly anticipated unlocking of value in JSW Neo Energy, the group’s green energy arm, may not happen soon as its Rs 5,000 crore QIP has provided enough capital for the next two years. JSW Energy is confident of reaching 20 gigawatt capacity ahead of its FY30 target, riding on organic and inorganic growth.
Indian cement makers are bullish on the demand environment amid increased government spending on infrastructure, rural development and expansion of the housing sector
Lithium, often referred to as "white gold" due to its market value and silver colour, is one of the most sought-after minerals globally due to its high energy density feature and longer life span
JSW Group and other Indian shareholders have invested Rs 5,000 crore in the JV to enhance capacity expansion and introduction of new car models. Production capacity of MG Motor's Halol facility will be increased to 3 lakh vehicles annually from the current capacity of 1 lakh vehicles.
The newly formed company, a joint venture between China's SAIC and Indian conglomerate JSW Group will also seek to create a "Maruti moment" in the new energy vehicle segment, JSW Group Chairman Sajjan Jindal said, while announcing the finalisation of the partnership.
The comments come a month after the JSW Group announced signing an agreement with the Odisha government to set up an integrated electric vehicle (EV) manufacturing facility in the state, entailing an investment of Rs 40,000 crore.
Revenue rose to Rs 2,661.41 crore in Q3 (FY24) from Rs 2,349.79 crore a year earlier.