Jindal Steel and Power (JSPL), one of the largest players in steel market in India, has failed to pay Rs 15.43 crore towards the interest due on Non Convertible Debentures (NCDs) on October 31. Last month, the firm had defaulted on payment of interest on NCDs, due on September 30, 2016 on account of cash flow mismatches. The Naveen Jindal-led company has divested some of its assets in the last few months in order to pare debt. JSPL has a net debt of around Rs 46,000 crore.
JSPL is a part of Jindal Group and is a leading player in Steel, Power, Mining, Oil & Gas and Infrastructure. The company produces economical and efficient steel and power through backward integration from its own captive coal and iron-ore mines and passes on the benefits to its customers.
| Company Name | CMP |
|---|---|
| Jindal Steel | 1269.50 |
| Lloyds Metals&Energy | 1622.70 |
| Jai Balaji Inds | 72.59 |
| Steel Exchange India | 8.96 |
| Rajputana Stainless | 125.90 |
| View more.. | |
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