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JSPL gains on plan to invest Rs 1,400 crore for setting up 7 mtpa pellet plant in Odisha

27 Sep 2013 Evaluate

Jindal Steel & Power is currently trading at Rs 237.00, up by 1.10 points or 0.47% from its previous closing of Rs 235.90 on the BSE.

The scrip opened at Rs 232.00 and has touched a high and low of Rs 238.50 and Rs 231.30 respectively. So far 137929 shares were traded on the counter.

The BSE group 'A' stock of face value Rs 1 has touched a 52 week high of Rs 473.90 on 20-Dec-2012 and a 52 week low of Rs 181.55 on 02-Aug-2013.

Last one week high and low of the scrip stood at Rs 265.70 and Rs 234.20 respectively. The current market cap of the company is Rs 22083.62 crore.

The promoters holding in the company stood at 59.13% while Institutions and Non-Institutions held 27.50% and 13.38% respectively.

Jindal Steel and Power (JSPL) is planning to set up a 7 million tonnes per annum (mtpa) pellet plant at Angul in Odisha. In this regard, the company will invest around Rs 1,400 crore and it already has clearance from the state government to put up the plant.

The 7 mtpa capacity would come as a part of its expansion project at Angul, where the company is expanding its steel-making capacity to 3.5 mtpa from 2.5 mtpa now. The expansion work at Angul is expected to begin soon as the company secures the financial closure for which it is in talks with the prospective banks. Moreover, the company has a 4.5 mtpa pellet plant at Barbil in Odisha and is in the process of doubling the capacity.

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.

Jindal Steel Share Price

1289.60 2.20 (0.17%)
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