JSW Steel Ltd

The board of JSW Steel at its meeting held on 25 March 2025 has approved tendering of 22,26,36,000 equity shares held by the company in Piombino Steel (PSL), a subsidiary of the company, under the proposed buy-back offer at a price of Rs. 75.30/- per equity share. This will inter-alia help company further strengthen its balance sheet. The said buy-back will be subject to acceptance by PSL. The company holds 508 crore equity shares in PSL constituting 83.28% of total equity shareholding of PSL.Powered by Capital Market - Live

The Board of JSW Steel at its meeting held on 25 March 2025 has approved the proposal to transfer its Salav unit located at Salav Village of Raigad District, Maharashtra having a Direct Reduced Iron (DRI) capacity of 0.9 MTPA to JSW Green Steel, its wholly owned subsidiary, on a Slump Sale basis. JSW Green Steel was incorporated by the Company on 27 February 2024 for the purpose of setting up a 4 MTPA integrated Green Steel plant at the Company's Salav works, in phases, as a part of Company's plan for reducing its carbon footprints.Powered by Capital Market - Live

The domestic equity benchmarks ended with modest losses on Monday, impacted by concerns over a geopolitical trade war. The Nifty ended below the 22,500 level after hitting the day's high of 22,676.75 in the morning trade. Barring the Nifty FMCG index, all the other sectoral indices on the NSE ended in the red. As per provisional closing, the barometer index, the S&P BSE Sensex, declined 217.41 points or 0.29% to 74,115.17. The Nifty 50 index lost 92.20 points or 0.41%, to 22,460.30. The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index slipped 1.46% and the S&P BSE Small-Cap index fell 2.11%. The market breadth was weak. On the BSE, 1,204 shares rose and 2,878 shares fell. A total of 147 shares were unchanged. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rallied 3.82% to 13.99. Economy: India's forex reserves dropped by $1.781 billion to $638.698 billion in the week ended February 28, the RBI said on Friday. Foreign currency assets, a major component of the reserves, decreased by $493 million to $543.35 billion. Gold reserves decreased by $1.304 billion to $73.272 billion during the week, the RBI said. The Special Drawing Rights (SDRs) were up by $27 million to $17.998 billion, the apex bank said. India's reserve position with the IMF fell by $12 million to $4.078 billion in the reporting week, the apex bank data showed. Buzzing Index: The Nifty Realty index fell 2.04% to 799.70. The index slipped 3.36% in three consecutive trading sessions. Mahindra Lifespace Developers (down 6.55%), Raymond (down 3.60%), Macrotech Developers (down 3.35%), DLF (down 2.99%), Sobha (down 2.75%), Prestige Estates Projects (down 1.83%), Godrej Properties (down 1.70%), Oberoi Realty (down 1.24%) and Phoenix Mills (down 0.54%) declined. Stocks in Spotlight: JSW Steel rose 0.01%. The company said that its consolidated crude steel production jumped 12% to 24.07 lakh tonnes in February 2025 as compared with 21.50 lakh tonnes produced in February 2024. Zydus Lifesciences shed 0.97%. The company announced that it has received final approval from the United States Food and Drug Administration (USFDA) to manufacture Ketoconazole Shampoo, 2% (USRLD: Nizoral Shampoo, 2%). Ketoconazole shampoo is an antifungal medication used to treat dandruff, fungal infections, and other skin conditions. Ketoconazole shampoo will be produced at the Group's topical manufacturing site at Changodar, Ahmedabad. Sun Pharmaceutical Industries rose 0.15%. The company said that it has entered into an agreement for the acquisition of all the outstanding shares of Checkpoint Therapeutics, Inc., an immunotherapy and targeted oncology company. Lupin slipped 1.04%. The company announced that it has launched Rivaroxaban tablets USP, 2.5 mg, in the US market following final approval from the US Food and Drug Administration (USFDA) for its abbreviated new drug application (ANDA). Rivaroxaban is indicated for reducing the risk of major cardiovascular events in patients with coronary artery disease (CAD) and major thrombotic vascular events in patients with peripheral artery disease (PAD), including those who have undergone lower extremity revascularization due to symptomatic PAD. Glenmark Pharmaceuticals slipped 0.52%. The company has announced the launch of 'Polyethylene Glycol 3350 Powder for Solution' as on OTC product in the US market. Polyethylene Glycol is an osmotic laxative. It prevents and treats occasional constipation. SJVN fell 3.10%. The company said that it has signed a memorandum of understanding (MoU) with the Chhattisgarh State Power Generation Company (CSPGC), Government of Chhattisgarh, to develop an 1800 MW pumped storage project (PSP) at Kotpali, Chattisgarh. Indian Renewable Energy Development Agency's (IREDA) dropped 4.18% after the Reserve Bank of India (RBI) rejected the company's request for equity investment in the 900 MW Upper Karnali Hydropower Project in Nepal. Coal India declined 1.64%. The company said (CIL) said that it has signed memorandum of understanding (MoU) with Indian Institute of Technology, Hyderabad (IIT-H) to develop clean coal technologies, diversification in coal utilization. Krystal Integrated Services lost 3.28%. The company announced that it has received a contract worth Rs 84.41 crore from the Post Graduate Institute of Medical Education and Research, Chandigarh, for providing sanitation services at their research center. Bodal Chemicals surged 15.57% after the Indian government imposed anti-dumping duties on Trichloro Isocyanuric Acid (TCCA) imports from China and Japan. Captain Technocast gained 4.92% after the company said that its board will convene on Tuesday, 18 March 2025, to consider a bonus share issue. Sterlite Technologies dropped 4.27% after the company informed that Tushar Shroff, chief financial officer (CFO) and key managerial personnel of the company, has tendered his resignation, effective from 31 March 2025. Active Clothing Co hit an upper limit of 5% after the company announced its plan to raise funds via a preferential allotment of 5 lakh warrants. Narayana Hrudayalaya rose 0.54% after the firm's foreign subsidiary, Health City Cayman Islands(HCCI) entered into a joint venture (JV) agreement with 2070 Health Inc., W Health Ventures GP LLC, and Everhope Oncology Private. SPML Infra was locked in an upper circuit of 5% after the company signed a Rs 617.98 crore agreement with the Water Resource Department for a major turnkey irrigation project under the Konar Irrigation Project. Global Markets: US Dow Jones index futures were down 328 points, indicating a negative opening in the US stocks today. Investors remained wary of uncertainty surrounding President Donald Trump's tariff policies and mulled over Federal Reserve Chair Jerome Powell's cautious remarks. European stocks declined on Monday after German exports fell 2.5% month-on-month in January, provisional data from the country's Federal Statistical Office showed. Most Asian stocks ended lower as traders analyzed fresh economic data from China. Over the weekend, China's consumer inflation dipped into negative territory for the first time in 13 months, driven by seasonal distortions and broader economic headwinds. The consumer price index (CPI) fell 0.7% year-over-year in February, reversing a 0.5% gain in January, according to the National Bureau of Statistics. Adding to market jitters, Beijing announced retaliatory tariffs on certain Canadian agricultural products. The move comes after Canada imposed import duties last year on Chinese electric vehicles, steel, and aluminum. Under the new measures, China will slap a 100% tariff on Canadian rapeseed oil, oil cakes, and peas, while a 25% levy will be applied to aquatic products and pork. In the U.S., major stock indices closed higher on Friday after a volatile trading day. The S&P 500 index rose 0.55% to 5,770.20, while the Nasdaq Composite gained 0.7% to 18,196.22. The Dow Jones Industrial Average added 222.64 points, or 0.52%, to end at 42,801.72. Meanwhile, the latest labor market data painted a mixed picture. The U.S. economy added 151,000 jobs in February alling short of expectations while the unemployment rate ticked up to 4.1% from January 4.0%, signaling possible cracks in labor market resilience. Speaking on Friday, Fed Chair Jerome Powell reaffirmed the central bank's cautious stance on interest rates. While acknowledging that the U.S. economy remains stable, he emphasized the need for patience, particularly in light of President Donald Trump's recent economic policy shifts, which include tariffs and federal worker layoffs. Powell's comments suggest the Fed is in no rush to alter its policy path amid lingering uncertainties. Powered by Capital Market - Live

The Indian unit of the company registered steel production volume of 23.32 lakh tonnes in February 2025, registering the growth of 13% as compared with 20.59 lakh tonnes volume in February 2024. The capacity utilization at Indian operations stood at 93.5% in February 2025. Ohio-based JSW Steel USA has reported steel production volume of 0.75 lakh tonnes for the February 2025, recording de-growth of 70.65% as compared with 0.91 lakh tonnes recorded in February 2024. JSW Steel, the flagship business of the diversified JSW Group, is India's leading integrated steel company. The company reported 70.65% decline in consolidated net profit to Rs 719 crore in Q3 FY25 compared with Rs 2,450 crore in Q3 FY24. Revenue from operations declined 1.32% YoY to Rs 40,793 crore during the quarter.Powered by Capital Market - Live

JSW Steel reported consolidated Crude Steel production for the month of February'25 at 24.07 Lakh tonnes. Consolidated production was higher by 12% YoY. Capacity utilisation for February'25 stands at Indian Operations 93.5%. Powered by Capital Market - Live

The Indian unit of the company registered steel production volume of 23.32 lakh tonnes in February 2025, registering the growth of 13% as compared with 20.59 lakh tonnes volume in February 2024. The capacity utilization at Indian operations stood at 93.5% in February 2025. Ohio-based JSW Steel USA has reported steel production volume of 0.75 lakh tonnes for the February 2025, recording de-growth of 70.65% as compared with 0.91 lakh tonnes recorded in February 2024. JSW Steel, the flagship business of the diversified JSW Group, is India's leading integrated steel company. The company reported 70.65% decline in consolidated net profit to Rs 719 crore in Q3 FY25 compared with Rs 2,450 crore in Q3 FY24. Revenue from operations declined 1.32% YoY to Rs 40,793 crore during the quarter. The counter rose 0.06% to end at Rs 1,011.15 on Friday, 7 March 2025.Powered by Capital Market - Live

JSW Steel has received the prestigious ResponsibleSteel Certification simultaneously for four of its manufacturing sites. In keeping with the Company's philosophy of 'Better Every Day', the significant accolade has been achieved by the manufacturing plants of JSW Steel situated at Vijaynagar (Karnataka), Dolvi and Tarapur (both in Maharashtra) and Salem (Tamil Nadu). With this momentous milestone, JSW Steel (Indian Operations) now has over 80% of its primary steel production from  ResponsibleSteel certified sites, with Tarapur being the first downstream rolling mill in India to achieve this milestone.  ResponsibleSteel is the steel industry's first global multi-stakeholder standard and certification initiative that works with steel producers, consumers, and intermediaries towards building a sustainable steel industry by addressing key challenges including responsible sourcing, climate change, diversity, human rights and environment stewardship, among a host of other initiatives. Powered by Capital Market - Live

JSW Steel reported consolidated Crude Steel production for the month of January'25 at 25.18 Lakh tonnes. Indian Operation and Consolidated production was higher by 7% YoY. Capacity utilisation for January'25 at Indian Operations excluding under trial-run was at 90%. The break-up of production is as below: (Lakh Tonnes) Particulars  Jan-25 Jan-24 % Change  Indian Operations  24.52 22.86 7% JSW Steel USA - Ohio  0.66 0.75   Consolidated Production  25.18 23.62 7%Powered by Capital Market - Live

Revenue from operations declined 1.32% YoY to Rs 40,793 crore during the quarter. Profit before exceptional items and tax (PBIT) fell 61.22% YoY to Rs 1,281 crore in Q3 FY25. PBIT stood at Rs 103 crore, which includes the impact of the coal block termination by the Ministry of Coal during the quarter. As a result, the bid security forfeiture and related expenditure amounted to Rs 103 crore. During the quarter operating EBITDA stood at Rs 5579 crore, with EBITDA margin of 13.5%.The EBITDA increased 3% QoQ as fall in steel realisaions was offset by higher volumes and lower costs primarily coking coal. Consolidated crude steel production for the quarter stood at 7.03 million tonnes higher by 2% YoY and 4% QoQ, Capacity utilization at the Indian operations was 91% during the quarter, Steel sales for the quarter stood at 6.71 million tonnes, higher by 12% YoY and 10% QoQ. Crude Steel Production at the Indian Operations for the quarter was at 6.82 million tonnes, higher by 3% YoY as well as QoQ. Steel Sales for the quarter were 6.54 million tonnes, higher by 12% YoY and 10% QoQ. Domestic sales in Q3 FY25 were highest ever at 5.99 million tonnes, growing 8% QoQ and 14% YoY, supported by strong Institutional and Retail sales. A better product mix resulted in sales of VASP at 3.9 million tonnes, which increased by 9% QoQ and 12% YoY. Exports constituted 8% of sales from the Indian operations for Q3 FY25 compared with 7% of sales in Q2 FY25. Net debt stood at Rs 80,921 crore as of 31st December 2024, lower by Rs 1,884 crore as against 30th September 2024, on cash generated from operations and release of working capital. At the end of the quarter, net gearing (Net debt to equity) stood at 1.00x as against 1.01x at the end of Q2 FY25. JSW Steel, the flagship business of the diversified JSW Group, is India's leading integrated steel company. Powered by Capital Market - Live

Securities in F&O Ban: Aditya Birla Fashion and Retail, Bandhan Bank, Can Fin Homes, Dixon Technologies (India), L&T Finance, Manappuram Finance, Mahanagar Gas, RBL Bank. Earnings to Watch: Coal India, Tata Steel, Indian Oil Corporation of India (IOCL), 360 One WAM, Adani Total Gas, Adani Wilmar, Apollo Pipes, Astec Life Sciences, Aurionpro Solutions, Canara Bank, Dwarikesh Sugar Industries, Emami, Epigral, Kaynes Technology India, LT Foods, Mahindra Logistics, Nitin Spinners, Petronet LNG, Wonderla Holidays, Yatharth Hospital & Trauma Care Services will declare their result later today. Stocks to Watch: JSW Steel reported 70.65% decline in consolidated net profit to Rs 719 crore in Q3 FY25 compared with Rs 2,450 crore in Q3 FY24. Revenue from operations declined 1.32% YoY to Rs 40,793 crore during the quarter. Interglobe Aviation (Indigo) reported 18.3% decline in consolidated net profit to Rs 2,448.8 crore in Q3 FY25 compared with Rs 2,998.1 crore in Q3 FY24. Revenue from operations jumped 13.7% to Rs 22,110.70 crore in Q3 FY25 compared with Rs 19,452.15 crore in Q3 FY24. DLF's consolidated net profit surged 61.24% to Rs 1,058.73 crore on 5.72% rise in total income to Rs 1,737.47 crore in Q3 FY25 over Q3 FY24. ICICI Bank's standalone net profit increased 14.81% to Rs 11,792.42 crore on 13.03% rise in total income to Rs 48,367.87 crore in Q3 FY25 over Q3 FY24. Yes Bank reported 164.52% surge in standalone net profit to Rs 612.27 crore in Q3 FY25 as against Rs 231.46 crore posted in Q3 FY24. The bank's total income jumped 14.20% YoY to Rs 9,341.15 crore in the quarter ended 31 December 2024. Aditya Birla Real Estate said that its wholly owned subsidiary Birla Estates (BEPL) has entered into a joint venture agreement with Mitsubishi Estate Co. (MEC) for developing a residential housing development in Southeast Bengaluru. Ceigall India emerged as lowest bidder for a project worth Rs 865 crore in Punjab. KEC International has secured new orders worth Rs 1,445 crore for transmission & distribution (T&D) projects in India.Powered by Capital Market - Live