Mutual Funds Sahi Hai!
To avail the service, you will be redirected to loans.geojitcredits.com
The expansion will substantially enhance the availability of heavy and ultra-heavy structural steel sections in India and reinforce Jindal Steel's leadership in the structural steel segment.
As part of the expansion roadmap, Jindal Steel will commission a new, dedicated structural steel mill, alongside advanced upstream and downstream technology upgrades. This will enable the manufacture of larger, heavier, and more complex parallel flange sections required for next-generation infrastructure and energy projects. The company currently manufactures parallel flange sections ranging from 100 mm to 900 mm, with sectional weights of up to 333 kg per metre. With the ongoing expansion, production capability will extend to ultra-heavy sections reaching 1,100 mm depth and 1,500 kg per metre.
These enhanced capabilities will support growing demand from infrastructure, refinery, power, renewable energy, transmission, and high-rise construction projects, while significantly reducing India's reliance on imported heavy structural steel sections.
This expansion would double the company’s existing structural steel capacity from 1.2 million tonnes per annum (MTPA) to 2.4 MTPA by mid 2028.
The expansion will substantially enhance the availability of heavy and ultra-heavy structural steel sections in India.
As part of this project, Jindal Steel will commission a new, dedicated structural steel mill, alongside advanced upstream and downstream technology upgrades.
This will enable the manufacture of larger, heavier, and more complex parallel flange sections required for next-generation infrastructure and energy projects.
The company currently manufactures parallel flange sections ranging from 100 mm to 900 mm, with sectional weights of up to 333 kg per metre. With the ongoing expansion, production capability will extend to ultra-heavy sections reaching 1,100 mm depth and 1,500 kg per metre.
Subrat Panda, Head – Structures & CSB, Jindal Steel, said: 'Doubling our structural steel capacity at Raigarh is a strategic step towards building long-term domestic capability for large and complex projects.
With the ability to manufacture the largest parallel flange sections in India, we are enabling faster execution, improved design efficiency, and reduced dependence on imports for critical infrastructure and energy applications.'
Jindal Steel and Power is the flagship company of Jindal Group, an industrial powerhouse which has a strong presence in the steel, power, mining, and infrastructure sectors globally.
The scrip fell 1.03% to currently trade at Rs 976.34 on the BSE.
At 11:25 ST, the barometer index, the S&P BSE Sensex dropped 283.06 points or 0.33% to 84,758.39. The Nifty 50 index lost 71.10 points or 0.27% to 25,970.20.
The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index added 0.39%, while the S&P BSE Small-Cap index declined 0.50%.
The market breadth was weak. On the BSE, 1,472 shares rose and 2,550 shares fell. A total of 232 shares were unchanged.
Buzzing Index:
The Nifty Realty index declined 0.57% to 878.15. The index dropped 0.79% in the two consecutive trading sessions.
Anant Raj (down 2.37%), Phoenix Mills (down 0.82%), Prestige Estates Projects (down 0.71%), SignatureGlobal India (down 0.51%), DLF (down 0.46%), Lodha Developers (down 0.45%), Brigade Enterprises (down 0.41%) and Sobha (down 0.36%) declined.
Stocks in Spotlight:
Ceigall India rallied 2.29% after the company’s subsidiary, Ceigall Infra Projects has received a LoA from Madhya Pradesh Road Development Corporation for the construction of the Indore–Ujjain access-controlled four-lane greenfield highway.
Vikran Engineering surged 5.31% after it has secured letter of awards (LoA) from M.P. Urja Vikas Nigam for the implementation of power plants with a total capacity of 45.75 MW AC in Vidisha, Madhya Pradesh.
Jindal Steel advanced 1.86% after the company announced a significant expansion of its structural steel manufacturing capabilities at its Raigarh facility. This expansion would double the company’s existing structural steel capacity from 1.2 million tonnes per annum (MTPA) to 2.4 MTPA by mid 2028.
Global Markets:
Most Asian markets advanced on Monday as investors kicked off the final trading week of the year.
Prices of spot silver rose to a fresh record high of above $80 per ounce before pulling back sharply to $77. Silver’s recent surge was driven by speculative buying and lingering supply tightness, said experts.
Media report further stated silver’s rally this year reflects a depletion of freely traded inventory, amplifying price moves as demand increases.
On Friday stateside, the S&P 500 reached a new high and posted weekly gains as traders came back from the Christmas holiday.
The broad market index closed down 0.03% to end at 6,929.94. At its high, the S&P 500 was up 0.2%, reaching 6,945.77. The Nasdaq Composite slipped 0.09% and closed at 23,593.10. The Dow Jones Industrial Average fell 20.19 points, or 0.04%, and settled at 48,710.97.
Jindal Steel Ltd is up for a third straight session today. The stock is quoting at Rs 1013.4, up 1.13% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.05% on the day, quoting at 26186.55. The Sensex is at 85580.54, up 0.02%. Jindal Steel Ltd has slipped around 0.77% in last one month.
Meanwhile, Nifty Metal index of which Jindal Steel Ltd is a constituent, has slipped around 7.19% in last one month and is currently quoting at 10669, up 0.64% on the day. The volume in the stock stood at 4.22 lakh shares today, compared to the daily average of 13.05 lakh shares in last one month.
The benchmark December futures contract for the stock is quoting at Rs 1015, up 1.14% on the day. Jindal Steel Ltd is up 7.5% in last one year as compared to a 10.36% jump in NIFTY and a 21.78% jump in the Nifty Metal index.
The PE of the stock is 21.05 based on TTM earnings ending September 25.