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Jindal Stainless shines on inking pact to acquire 49% stake in Indonesia-based nickel pig iron company

Jindal Stainless Ltd. | Steel & Iron Products | Metals & Mining | BSE: 532508 | NSE: JSL

29 Mar 2023 Evaluate

Jindal Stainless is currently trading at Rs. 288.45, up by 8.55 points or 3.05% from its previous closing of Rs. 279.90 on the BSE.

The scrip opened at Rs. 284.00 and has touched a high and low of Rs. 288.45 and Rs. 281.95 respectively. So far 242 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 329.00 on 08-Mar-2023 and a 52 week low of Rs. 95.05 on 20-Jun-2022.

Last one week high and low of the scrip stood at Rs. 297.50 and Rs. 270.85 respectively. The current market cap of the company is Rs. 23047.93 crore.

The promoters holding in the company stood at 70.10%, while Institutions and Non-Institutions held 20.26% and 9.46% respectively.

In a major strategic move to ensure long term availability of nickel, Jindal Stainless (JSL) has entered into a collaboration agreement with New Yaking for the investment in, development, construction and operation of a Nickel Pig Iron (NPI) smelter facility (Facility) located in an industrial park in Halmahera Islands, Indonesia. Pursuant to the Collaboration Agreement, JSL will acquire a 49% equity interest for a consideration of around $157 million.

The strategic collaboration offers benefits of backward integration as JSL would have stake in the business of NPI. The Facility is planned to be commissioned within 2 years, with an annual nameplate production capacity of up to 200,000 metric tonnes of NPI with average 14% Ni Content. This is the first-ever strategic partnership entered into by an Indian company for securing stake in nickel reserves globally as India is deficient in nickel ore.

Jindal Stainless is one of the largest stainless steel conglomerates in India and ranks amongst the top 10 stainless steel conglomerates in the world.

Jindal Stainless Share Price

782.25 -5.65 (-0.72%)

20-Apr-2026 10:03 View Price Chart

Peers

Company Name	CMP
Tata Steel	211.15
JSW Steel	1247.55
SAIL	172.55
Jindal Stainless	782.25
APL Apollo Tubes	2113.40
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Jindal Stainless shines on inking pact to acquire 49% stake in Indonesia-based nickel pig iron company

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