JSW Steel Ltd (JSTL) has announced a restructuring that unlocks value from Bhushan Power & Steel Ltd (BPSL) and changes the balance-sheet. JSTL will do a slump sale of 50 per cent stake in BPSL to Japan's JFE Steel in two equal tranches, totalling Rs 15,700 crore in cash.
The Supreme Court on Friday upheld JSW Steel's Rs 19,700-crore resolution plan for debt-ridden Bhushan Power and Steel Limited (BPSL), bringing down curtains to a prolonged legal battle that spanned nearly eight years.
The Supreme Court on Friday declared JSW Steel Limited's resolution plan for Bhushan Power & Steel Limited (BPSL) "illegal" and ordered the latter's liquidation, four years after the company was acquired by JSW Steel under the Insolvency and Bankruptcy Code (IBC). Following the ruling, JSW Steel shares fell sharply.
JSW Steel, owned by Sajjan Jindal, has emerged as the world's most valuable steelmaker, boasting a market capitalisation (mcap) of nearly $30.31 billion, according to Bloomberg data.
Steel maker JSW Steel's Q3 results, announced on January 24, 2025, after market hours, failed to meet Street expectations. The company reported a consolidated net profit attributable to the owners of Rs 717 crore in Q3FY25, reflecting a 70.3 per cent decline Y-o-Y, compared to Rs 2,415 crore in Q3FY24.
JSW will pay at least Rs 4,000 crore Rs 40 billlion.
JSW Steel is planning to list an international mining unit in London in the first such move by one of India's fast-growing steel companies.
Sajjan Jindal-led JSW Steel today said it may have to shut down its 10 million tonnes per annum (MTPA) Vijayanagar plant in Karnataka due to a continuous shortage of iron ore.
India's JSW Steel has been awarded more than 5.4 million carbon credits, including four million carbon credits in the single largest issuance of emissions permits to a Kyoto Protocol project, by the United Nations.
Private steel maker JSW Steel on Tuesday said Japan's steel major JFE will buy 14.99 per cent stake in the company for over Rs 4,800 crore (Rs 48 billion), a move that may help the Indian company reduce its debt.
State exchequer lost Rs 325 crore, says Lokayukta.
It plans to ship in 10 million tonnes of iron ore this fiscal year ending March 31.
"There is a slight deferral for some time (on the commencement of construction work) till the economic situation improves," JSW Steel Vice-Chairman and MD Sajjan Jindal said. Faced with a liquidity crunch, JSW Steel had earlier said it was cutting its proposed investment by nearly one-third to about Rs 4,000 crore for the first phase of the Rs 35,000 crore mega steel project in West Bengal.
The closure of BPSL would add about three million tonnes capacity to JSW Steel's existing 18 million tonnes.
JSW Steel plans to abandon its coal mining project in Mozambique because of higher than expected ash content in the coking coal.
Announcement for the Rs 4,000-crore acquisition likely today.
Even as it comes to terms with the land acquisition controversy in Nandigram and Singur, the CPI(M)-led West Bengal government has handed over the order for possession of 4,300 acres
The Indian steel industry is faced with a paradox: Rising demand and falling prices. Demand continues to surge as user industries gather pace, with the World Steel Association projecting around 9 per cent annual growth for India over 2025 and 2026, the year domestic demand is projected to be almost 75 million tonnes (mt) higher than in 2020.
In a significant development, the Supreme Court on Thursday recalled its controversial May 2 verdict that had ordered liquidation of Bhushan Power & Steel Limited (BPSL) while setting aside a resolution plan of JSW Steel Limited for the ailing firm. A bench comprising Chief Justice B R Gavai and Justice Satish Chandra Sharma observed that the May 2 judgment, authored by Justice Bela M Trivedi, since retired, did not "correctly consider the legal position as has been laid down in the catena of judgments".
You have to grow, and grow fast - that's the DNA of the JSW group, chairman Sajjan Jindal said as JSW Cement made its debut on the stock market mid-August. The remark captured not just the moment but also the momentum of JSW's growth story.
The Supreme Court's ruling in the BPSL case exposes deep flaws in the IBC's institutional framework and raises concern about judicial overreach, notes Rajeswari Sengupta.
Domestic steel prices have seen an increase over the past couple of months in anticipation of a safeguard duty, but a looming global trade war is likely to weigh as threat of import rises and prospect of export flounders. Data from BigMint showed that in March 2025, hot rolled coil (HRC) prices ex-Mumbai increased by Rs 600 per tonne month-on-month (M-o-M), rising from Rs 48,400 per tonne in February to Rs 49,000 per tonne.
India on Monday imposed a 12 per cent provisional safeguard duty for 200 days on five steel product categories, including hot rolled coils, sheets and plates, to protect domestic players from surge in imports. The decision follows a recommendation for the same by the Commerce Ministry's investigation arm DGTR. Last month, the DGTR suggested to impose the duty.
The Indian metal market is a promising sector to invest in as it provides a good balance between the prospects of growth and stability in dynamic economic conditions and a changing geopolitical environment. Metals such as gold, silver, copper, etc, have gained renewed significance in 2025, amidst growing inflation and India's push towards infrastructural growth and green energy initiatives.
The Indian metal market is a promising sector to invest in as it provides a good balance between the prospects of growth and stability in dynamic economic conditions and a changing geopolitical environment. Metals such as gold, silver, copper, etc, have gained renewed significance in 2025, amidst growing inflation and India's push towards infrastructural growth and green energy initiatives.
From setting up cutting-edge facilities to cater to the domestic market and building capabilities of global standards, the action is building up.
Apple Inc's iPhones assembled in India achieved market revenues of Rs 162,000 crore. Tata Steel's revenue for the same period was Rs 162,324 crore.
Alongside the power plant, Chief Minister Banerjee also laid the foundation stone for JSW Industrial Park, which will be spread over 2,000 acres with plug-and-play infrastructure.
Indian business tycoon Sajjan Jindal, along with his family, attended the wedding festivities of the grandson of former Pakistan prime minister Nawaz Sharif in Lahore. Jindal, the managing director of JSW Steel, was among 700 local and foreign guests who attended the wedding of Sharif's grandson Zayd Hussain Nawaz at their palatial Jati Umra Raiwind residence in Lahore on Sunday. Several other Indians also attended the festivities.
India's steel market is out of step with global trends. Global demand is weak with China at a huge supply surplus to its domestic demand, pushing down global steel prices. India's domestic demand for steel is strong, given the continuing infrastructure push and is likely to accelerate as urbanisation improves, and the auto sector continues to grow alongside the infrastructure push.
The power sector presents a puzzle. A fast-growing economy should be aligned to higher power demand but that hasn't been the case in the financial year 2026 till date (FY26TD).
India's women's number one squash player Anahat Singh brushed aside Helen Tang of Hong Kong in the final to clinch the JSW Indian Open title in Mumbai on Friday.
India's leading steel companies hope the Modi 3.0 Budget will continue the massive capital expenditure currently underway, focusing on infrastructure development, manufacturing, and fair trade. The infrastructure segment is the largest steel user, and the government's focus has fuelled steel consumption even as international markets have underperformed. According to provisional statistics, steel consumption grew 13.6 per cent in FY24, reaching 136 million tonnes (mt), according to a CRISIL report.
Steel companies are witnessing margin pressures in Q2FY25 and this may persist until China sees growth recovery.
'While lower steel prices may impact a part of the quarter, this will be offset by softer raw material prices.'
Stock markets will be mainly driven by quarterly earnings by corporates, foreign fund flows and global trends this week, analysts said.
The Coal Ministry has issued show-cause to eight firms including Hindalco Industries and Mahanadi Coalfields, and sought explanation from five firms for delays in commencing production from mines allocated to them.
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