JSW Steel reported its results for the first quarter ended 30th June 2021 JSW Steel Limited today reported its results for the First Quarter ended 30th June,2021 (“Q1 FY2022” or the “Quarter”). India was impacted by a second wave of the pandemic during April and May 2021, with cases declining sharply from the month of...
Sandesh Das, a young 28-year old mechanical engineer with a mid-sized shipping company was totally ecstatic when he received the keys to his dream home within a newly developed housing complex in Mira Road, an extended suburb on MumbaiÂ’s outskirts.
Building entire villages made of prefabricated steel, large steel silos to store food grains across the country and increase in steel components in highways, flyovers, bridges, automobiles and aviation can stimulate domestic demand for the metal, according to experts from the steel industry.
Due to iron ore supply issues, JSW SteelÂ’s Vijayanagar plant in Karnataka is currently running at 85 per cent capacity utilisation level. While the Supreme Court has approved the opening of 115 Category A and B iron ore mines in Karnataka, only 15 are up and running.
In the next five years, JSW Steel plans to open as many as 5,000 shops to sell custom-made steel to tap demand in rural and semi-urban India. The company believes that rising incomes in both rural and semi-urban areas in the country have boosted construction of homes and non-food spending.
Analysts feel that the depreciation of rupee against the dollar may affect the bottomlines of steel companies further. Already, companies like JSW Steel, Steel Authority of India (SAIL) bore the brunt because of the unfavourable exchange rate. The depreciating rupee may further hurt the cost of production of steel companies in turn affecting their mar
Sajjan Jindal, Chairman and Managing Director of JSW Steel is hopeful that the firm may improve its productivity and capacity utilisation as iron ore mining operation resumes gradually in Karnataka. Jindal said this at the company's Annual General Meeting. The company expects that with the sale of sub-grade ore, the iron ore quality may improve in the coming months and this would enable the firm ramp up capacity utilis