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Jindal Steel surges on raising $475 million for overseas expansion plans

Jindal Steel Ltd. | Steel/Sponge Iron/Pig Iron | Metals & Mining | BSE: 532286 | NSE: JINDALSTEL

22 Aug 2011 Evaluate

Jindal Steel is currently trading at Rs. 496.85, up by 11.80 points or 2.43% from its previous closing of Rs. 485.05 on the BSE.

The scrip opened at Rs. 486.00 and has touched a high and low of Rs. 498.80 and Rs. 482.35 respectively. So far 56050 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 755.25 on 6-Oct-2010 and a 52 week low of Rs. 464.00 on 19-Aug-2011.

Last one week high and low of the scrip stood at Rs. 534.80 and Rs. 464.00 respectively. The current market cap of the company is Rs. 45328.39 crore.

The promoters holding in the company stood at 58.40% while Institutions and Non-Institutions held 29.56% and 12.05% respectively.

Jindal Steel & Power, a steel maker and power generator, has raised $475 million through the takeout financing route, to part finance expansion plans overseas. The company has raised the loan at 225 basis points over the LIBOR, for a tenor of five years, with 10 large banks participating in the transaction. The banks include Standard Chartered, DBS, Citibank, Bank of Tokyo Mitsubishi, Mizuho, Barclays, RBS, ANZ, Credit Agricole and JP Morgan.

Recently, Jindal Steel and Power (JSPL) received government’s clearance for 1,320-acre Jharkhand land. A high-level state land acquisition committee headed by development commissioner has approved 1,320 acre land to JSPL for its proposed 1,200 MW super critical thermal power station in Jharkhand's Godda district. Further, the committee has also approved 326 acre land for the proposed 600 MW thermal power by Kolkata Sub-urban Electrical Supply Company at Ramgarh in Dumka district.

On consolidated basis, the Group’s net profit has declined by 2.44% at of Rs 918.79 crore for the quarter as compared to Rs 941.82 crore for the similar quarter of the last fiscal. Its total Income has shot up by 31.98% at Rs 3972.51 crore for the quarter from Rs 3009.92 crore for the June quarter of the previous year.

Jindal Steel Share Price

1269.50 45.65 (3.73%)

17-Apr-2026 16:59 View Price Chart

Peers

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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Jindal Steel surges on raising $475 million for overseas expansion plans

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