Jindal Steel & Power (JSPL) announced that it has received BIS certification to manufacture India’s first fire resistant steel structures at its rail mill & special profile mill in Raigarh, Chhattisgarh.

JSPL gets licence from BIS to manufacture fire resistant steel

The steel produced will be able to withstand temperatures of up to 600 degrees Celsius for a maximum duration of three hours

Jindal Steel gets BIS licence to make fire resistant steel

Jindal Steel and Power Ltd (JSPL) on Sunday said it will manufacture India’s first fire-resistant steel structures at its unit in Raigarh, Chhatisgarh.

JSPL gets nod to manufacture India’s first fire-resistant steel structures

Brokerage and research firm BOBCaps said it prefers Tata Steel with a target price of Rs 140. The brokerage has Buy rating on Tata Steel.

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The proceeds from the potential bond issue will be used to replace the existing loans with lower priced borrowings. Ratan Jindal is amongst four sons to whom their father OP Jindal bequeathed parts of the Jindal steel empire. Sajjan Jindal, Naveen Jindal and Prithviraj Jindal are his siblings.

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Jindal Steel & Power Ltd is quoting at Rs 585.2, up 1.51% on the day as on 12:49 IST on the NSE. The stock is up 34.3% in last one year as compared to a 7.98% gain in NIFTY and a 6.46% gain in the Nifty Media index.

Jindal Steel & Power Ltd soars 1.51%, up for third straight session

The National Green Tribunal (NGT) has directed Jindal Steel and Power Limited (JSPL) to pay a compensation of Rs 20 lakh each to the heirs of two workers who died due to a blast on its premises in Patralapli village in Chhattisgarh’s Raigarh

NGT directs Jindal Steel to pay Rs 20 lakh to kin of 2020 blast victims

The NGT had initiated suo-motu proceedings in the matter on the basis of a media report. According to police, the blast had occurred when the workers were cutting an old diesel tank with a gas cutter at a scrap yard.

NGT directs Jindal Steel to pay Rs 20 lakh compensation each to kin of 2020 blast victims

The top five winners were Jindal Steel and Power, National Mineral Development Corporation Limited, SBI Foundation, PVR Limited and Tata Capital Financial Services Limited from the respective categories

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Emkay Global Financial is bullish on Jindal Steel has recommended buy rating on the stock with a target price of Rs 900 in its research report dated February 12, 2023.

Buy Jindal Steel of Rs 900: Emkay Global Financial

Price return has been average, nothing exciting

Performance

Seems to be overvalued vs the market average

Valuation

Lagging behind the market in financials growth

Growth

Showing good signs of profitability & efficiency

Profitability

Fundamentals

Good time to consider, stock is not in the overbought zone

Technicals

Entry point

The stock has a moderate number of red flags

Promoter pledged holding

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Red flags

Jindal Steel and Power Limited is a steel producer. The company's segments include Iron & Steel, Power and Other.