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Capital markets regulator <keyword id="19901201" type="General" weightage="100" keywordseo="Sebi" source="keywords" meta.keywordsubtype="org" meta.entityname="Sebi" meta.hostid="261" meta.entityid="Sebi">SEBI</keyword> has put on hold the proposed Rs 4,000-crore initial <keyword id="21443197" type="General" weightage="20" keywordseo="public-offering" source="keywords">public offering</keyword> (<keyword id="19898327" type="General" weightage="20" keywordseo="IPO" source="keywords">IPO</keyword>) of <keyword id="21741786" type="General" weightage="20" keywordseo="JSW-Cement" source="keywords" meta.keywordsubtype="org" meta.entityname="JSW Cement" meta.hostid="261" meta.entityid="JSW Cement">JSW Cement</keyword>. Without specifying reasons, SEBI stated that the "issuance of observations (has been) kept in abeyance," according to an update on its website on Monday. JSW Cement, part of the diversified <keyword id="20099967" type="General" weightage="20" keywordseo="jsw-group" source="keywords">JSW Group</keyword>, filed the preliminary IPO papers with SEBI on August 16. The proposed issue involves a new issue of <keyword id="20035340" type="General" weightage="20" keywordseo="equity-shares" source="keywords">equity shares</keyword> worth Rs 2,000 crore and an offer-for-sale (OFS) of Rs 2,000 crore by <keyword id="23013062" type="General" weightage="20" keywordseo="investor-shareholders" source="keywords">investor shareholders</keyword>, according to the draft red herring prospectus (DRHP) filed with the regulator. Under the OFS, AP Asia Opportunistic Holdings Pte. Ltd and Synergy Metals Investments Holding Ltd will offload shares worth Rs 937.5 crore each and <keyword id="19934368" type="General" weightage="20" keywordseo="State-Bank-of-India" source="keywords" meta.keywordsubtype="org" meta.entityname="State Bank of India" meta.hostid="261" meta.entityid="State Bank of India">State Bank of India</keyword> (SBI) will divest shares valued at Rs 125 crore. Proceeds from the fresh issue to the tune of Rs 800 crore will be used for partially financing the establishment of a new integrated <keyword id="23013063" type="General" weightage="20" keywordseo="cement-unit" source="keywords">cement unit</keyword> in Nagaur, Rajasthan, while Rs 720 crore will be allocated for payment of debt and the remaining funds will be allocated for general corporate purposes. JSW Cement, which has a manufacturing capacity of 19 MT annually, aims to achieve the capacity of 60 MTPA. It currently has manufacturing units at Vijayanagar in Karnataka, Nandyal in Andhra Pradesh, Salboni in West Bengal, Jajpur in Odisha and Dolvi in Maharashtra. Besides, JSW Cement through its subsidiary Shiva Cement operates a clinker unit in Odisha. JSW Group has business interests in sectors such as steel, energy, maritime infrastructure, defence, B2B e-commerce, realty, paints, sports and venture capital. JM Financial Ltd, Axis Capital Ltd, Citigroup Global Markets India Private Ltd, DAM Capital Advisors Ltd, Goldman Sachs (India) Securities Private Ltd, Jefferies India Private Ltd, Kotak Mahindra Capital Company Ltd and SBI Capital Markets Ltd are responsible for managing the company's IPO process.

SEBI places JSW Cement's Rs 4,000-cr IPO on hold for now

<keyword id="19950696" type="General" weightage="20" keywordseo="JSW-Energy" source="keywords" meta.keywordsubtype="org" meta.entityname="JSW Energy" meta.hostid="261" meta.entityid="JSW Energy">JSW Energy</keyword> on Thursday said its arm received a letter of award from Solar Energy Corporation of India (<keyword id="19967266" type="General" weightage="20" keywordseo="SECI" source="keywords" meta.keywordsubtype="org" meta.entityname="SECI" meta.hostid="261" meta.entityid="SECI">SECI</keyword>) for supply of <keyword id="22714846" type="General" weightage="20" keywordseo="230-MW" source="keywords">230 MW</keyword> of power from its <keyword id="19895602" type="General" weightage="20" keywordseo="renewable-energy" source="keywords">renewable energy</keyword> project. The energy supply order has been secured by wholly-owned subsidiary JSW Neo Energy Limited, JSW Energy said, adding that the company received the letter of award following a tariff-based competitive bidding process. Bids were invited for supply of 630 MW of firm and dispatchable power from an inter state transmission system or ISTS-connected renewable energy project SECI-FDRE-IV, JSW Energy said in an exchange filing. With the latest <keyword id="19895601" type="General" weightage="20" keywordseo="contract" source="keywords">contract</keyword>, the company's total locked-in generation capacity has increased to 16.4 GW, which includes a hybrid capacity of 2.3 GW, including FDRE (firm and dispatchable renewable energy). The company expects to have an installed generation capacity of 10 GW by FY25, up from 7.5 GW currently. SEE ALSO:<a href="https://www.businessinsider.in/business/news/ola-wants-to-re-enter-the-quick-commerce-business-to-take-on-blinkit-and-swiggy-instamart/articleshow/112364583.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/news/ola-wants-to-re-enter-the-quick-commerce-business-to-take-on-blinkit-and-swiggy-instamart/articleshow/112364583.cms" target="_blank">Ola wants to re-enter the quick commerce business to take on Blinkit and Swiggy Instamart</a><a href="https://www.businessinsider.in/finance/banks/news/rbi-mpc-meet-cheque-clearing-time-reduced-upi-limit-increased-for-tax-payment/articleshow/112366099.cms" target="_blank"></a> <a href="https://www.businessinsider.in/finance/banks/news/rbi-mpc-meet-cheque-clearing-time-reduced-upi-limit-increased-for-tax-payment/articleshow/112366099.cms" target="_blank">RBI MPC meet – Cheque clearing time reduced, UPI limit increased for tax payment</a><a href="https://www.businessinsider.in/business/auto/news/tata-curvv-ev-with-up-to-585-km-range-launched-starting-at-17-49-lakh/slidelist/112342769.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/tata-curvv-ev-with-up-to-585-km-range-launched-starting-at-17-49-lakh/slidelist/112342769.cms" target="_blank">Tata Curvv EV with up to 585 km range launched starting at ₹17.49 lakh</a>

JSW Energy gets contract from SECI for supply of 230 MW renewable energy

<keyword id="19896382" type="General" weightage="20" keywordseo="Sensex" source="keywords">Sensex</keyword> and <keyword id="19896381" type="General" weightage="20" keywordseo="Nifty" source="keywords">Nifty</keyword> closed the day in the red. While Sensex dipped around 166 points to close at 78,593.07, well below the 80,000 mark it had breached recently, Nifty closed 0.26% down at 23,992.55, marginally below the 24,000 mark, as of August 6th, 2024. <keyword id="20107252" type="General" weightage="20" keywordseo="Britannia" source="keywords" meta.keywordsubtype="org" meta.entityname="Britannia" meta.hostid="261" meta.entityid="Britannia">Britannia</keyword> (up by 2.81%), <keyword id="19971670" type="General" weightage="20" keywordseo="JSW-Steel" source="keywords" meta.keywordsubtype="org" meta.entityname="JSW Steel" meta.hostid="261" meta.entityid="JSW Steel">JSW Steel</keyword> (up by 2.35%), <keyword id="19924892" type="General" weightage="20" keywordseo="Tech-Mahindra" source="keywords" meta.keywordsubtype="org" meta.entityname="Tech Mahindra" meta.hostid="261" meta.entityid="Tech Mahindra">Tech Mahindra</keyword> (up by 1.74%), <keyword id="20531945" type="General" weightage="20" keywordseo="Larsen-and-Toubro" source="keywords" meta.keywordsubtype="org" meta.entityname="Larsen and Toubro" meta.hostid="261" meta.entityid="Larsen and Toubro">Larsen and Toubro</keyword> (up by 1.70%) and <keyword id="20002610" type="General" weightage="20" keywordseo="Hindustan-Unilever" source="keywords" meta.keywordsubtype="org" meta.entityname="Hindustan Unilever" meta.hostid="261" meta.entityid="Hindustan Unilever">Hindustan Unilever</keyword> (up by 1.54%) were amongst the top gainers during the day. On the other hand, <keyword id="20079495" type="General" weightage="20" keywordseo="HDFC-Life" source="keywords" meta.keywordsubtype="org" meta.entityname="HDFC Life" meta.hostid="261" meta.entityid="HDFC Life">HDFC Life</keyword> (down by 4.28%), SBI Life (down by 2.43%), BPCL (1.84%), Shri Ram Finance (down by 1.71%) and SBI Life (down by 1.47%) were the leading laggards. Out of the 2,813 stocks traded during the day, 1,031 stocks saw advances, while 1,703 saw declines, and another 79 remained unchanged. 72 stocks hit their 52-week high price, while 51 stocks also hit their 52-week low price today. 108 stocks hit the upper circuit, or maximum permissible price in a single trading session, while 131 stocks remained in the lower circuit. All broad market indices closed the day in red. India VIX dipped 7.97%, and amidst sectoral indices, financial services and PSU banks dropped over 1% each at the close of day's trade. With the exception of FMCG, IT, media, metal and realty, which managed marginal gains, all other sectors closed in the reds. Aditya Gaggar, director of Progressive Shares explains that although a strong opening reaching higher levels was seen in the opening trade; the index failed to hold its gains and gradually erased it. In the 2nd half of trading, selling pressure intensified, and the index wiped off all its gains to end the session at 23,992.55 with a loss of 63.05 points. "A mixed trend was seen across the board, where realty and IT were the top gainers, while PSU Banks corrected the most, followed by auto. From the broader markets, midcaps and small caps corrected by 0.61% &amp; 0.39% respectively, and underperformed the frontline index. The near-term outlook for Nifty50 turned bearish, unless it gives a convincing move above 24,400 while on the downside, 23,880 will be considered as immediate support", Gaggar continued. Shrikant Chouhan, Head Equity Research, Kotak Securities noted that while today, the markets opened higher due to positive Asian markets, they failed to sustain these levels and closed at the day's lowest point. "Although the market did not break the previous day's lows, it closed below the closing of the previous day. Apart from Nifty realty, metal, and IT, other indices closed in the red. Based on the short-term market structure, the trend-setting levels are 23,900/78,290. If the market falls below this, it may decline to 23,700 or 23,600/78,000-77,800, where it has support from retracements and long-term averages. It's advisable to consider selective buying around this level. On the upside, the major resistance levels are 24,150/79,000 and 24,400/79,700. It's recommended to reduce weak long positions around 24,300/24,400", he said. Rajesh Bhosale, Equity Technical Analyst, Angel One highlighted that the momentum favored the bears, and that the possibility of intermittent rebounds cannot be ruled out. "Therefore, any such bounces, similar to today, should ideally be viewed as selling opportunities. As for key levels, 24,250 appears to be immediate resistance, while the 24,350 - 24,400 range remains a challenging barrier for the bulls. Only a close above this range could potentially revive some positive momentum in the market. On the downside, immediate support is seen at 23,900 - 23,850, below which the Nifty may slip towards the 23,600 - 23,550 levels. Traders are advised to monitor these levels closely and adjust their trades accordingly, while also keeping an eye on global developments, as our markets are particularly influenced by global momentum", Bhosale continued. On the global front, oil prices rose by over 1% today, bouncing back from yesterday's losses, due to supply concerns stemming from the escalating Middle East conflict and strong U.S. services data. However, the fear of Iran retaliating against recent attacks in the region has increased fears of a broader war, threatening global supply stability and impacting oil forecasts. Furthermore, the US ISM Services PMI for July came in at 51.4, slightly above the month's forecast (51) and higher than June's reading (48.8). This is a positive sign, since it indicates a rebound in services sector, improvement in business activities, new orders and employment across industries like finance, healthcare and more. "With the Federal Reserve’s interest rate strategy under scrutiny, any positive US economic data could support the case for rate cuts", continued Chouhan. In response, global indices were seen trading in green. Nikkei 225 in particular, which had dropped around 12.4% yesterday, witnessing its worst crash since 1987, sharply rebounded about 3,217.04 points, or 10.23% to close at 34,675.46 points.

Stock market closing: Nikkei makes a sharp rebound, Sensex ends below 79k and Nifty slips below 24k

Both indices, <keyword id="19896381" type="General" weightage="20" keywordseo="Nifty" source="keywords">Nifty</keyword> and <keyword id="19896382" type="General" weightage="20" keywordseo="Sensex" source="keywords">Sensex</keyword> saw a bloodbath on Friday, with Sensex dipping around 885.6 points to close at 80,981.95 points, while NSE dipped 1.17% to close at 24,717.70 points on August 2, 2024. <keyword id="20103302" type="General" weightage="20" keywordseo="Divis-Labs" source="keywords" meta.keywordsubtype="org" meta.entityname="Divis Labs" meta.hostid="261" meta.entityid="Divis Labs">Divis Labs</keyword> (up by 1.74%), <keyword id="6357149" type="General" weightage="20" keywordseo="HDFC-Bank" source="Orion">HDFC Bank</keyword> (up by 1.17%), Dr Reddy (up by 0.84%), <keyword id="44642" type="General" weightage="20" keywordseo="Sun-Pharma" source="Orion">Sun Pharma</keyword> (up by 0.80%) and Britannia (up by 0.63%) were amongst the top gainers during the day, while Eicher Motors (down by 5.15%), Tata Motors (down by 4.32%), <keyword id="6912" type="General" weightage="20" keywordseo="Maruti" source="Orion">Maruti</keyword> (down by 4.06%), <keyword id="45609" type="General" weightage="20" keywordseo="JSW-Steel" source="Orion">JSW Steel</keyword> (down by 3.91%) and Hindalco (down by 3.89%) were amongst the leading laggards during the day. Out of the 2,771 stocks traded during the day, 1,059 saw advances, while 1,630 saw declines, while another 82 remained unchanged. 152 stocks hit their 52-week high price and 32 stocks hit their 52-week low price as well. 108 stocks remained in the upper circuit during the day, while 81 stocks remained in the lower circuit, or hit their minimum permissible trading price during a singular trading session. Amidst broad market indices, Nifty next 50 was down by 1.30%, Nifty 100 was down by 1.10%, Nifty 200 dipped by 1.08%, Nifty 500 was down by 1.05% and midcap 50 was down by 1.43%. With the exception of India VIX, which rose 11.4% during the day, all other indices closed the day in red. As for sectoral indices, IT was down by 2.41%, metal was down by 2.70%, PSU banks were down by 1.72%, <keyword id="20304716" type="General" weightage="20" keywordseo="realty" source="keywords">realty</keyword> was down by 3.53% and oil and gas dipped by 1.24% during the day. Only healthcare and pharma indices closed the day in green. <h2>What are the experts saying?</h2>Ajit Mishra – SVP, Research, Religare Broking Ltd noted that today, the markets traded under pressure and lost over a percent due to weak global cues. After a gap-down start, Nifty fluctuated within a range and eventually closed near the day's low. Most sectors mirrored the benchmark's decline, with realty, auto, and metal being the top losers. The broader indices also fell, each losing over half a percent. "Nifty struggled to surpass the hurdle at 25,100, and Friday's close suggests a potential further dip toward the immediate support zone around the 20-day EMA around 24,500 level. Besides earnings, participants are also taking cues from the global front, particularly the US, which has been experiencing significant volatility recently. Given this scenario, it is advisable to limit overnight leveraged positions and opt for hedged trades", he continued. Amol Athawale, VP-Technical Research, Kotak securities explained that today, our markets followed the trend of world equity markets, which closed with a massive drop in the last few days. They were down due to weak economy-related data as well as disappointing quarterly numbers. However, our markets held up relatively better than world markets, which fell by over 1.50%. Weekly, Nifty fell by 0.40%, while Sensex was down by 300 points. "Realty, auto, and IT fell by over 2% weekly, while the Nifty pharma index was up nominally. We saw particular buying interest in new-age companies after Zomato's Q1 numbers. Technically, the market managed to climb to new highs during the week. Nifty and Sensex achieved major milestones by crossing 25000 on the Nifty and 82000 on the Sensex. However, currently, most stocks and indices are close to important resistance levels, and we may see consolidation for a few days or weeks", said Athawale. "On an immediate basis, the market is finding support between 24,600/80,900 and 24,500/80,600 levels. On the other hand, until the market crosses 25,100/82,200, we may see a range-bound movement in the market. The strategy should be to buy selective stocks between 24,600 and 24,500/80,900 and 80,600 levels. A close below 24,500/80,600 may take the market towards 24,250/79,900 or 24,100/79,500 levels. Any bounce towards 24,900-25,000/81,700-82000 levels will be an opportunity to reduce long positions", he continued.

Stock market closing: Sensex, Nifty close the week in red, Sensex tumbles over 800 points

New Delhi, <keyword id="19971670" type="General" weightage="20" keywordseo="JSW-Steel" source="keywords" meta.keywordsubtype="org" meta.entityname="JSW Steel" meta.hostid="261" meta.entityid="JSW Steel">JSW Steel</keyword> has posted a 65 per cent fall in consolidated <keyword id="19942166" type="General" weightage="20" keywordseo="net-profit" source="keywords">net profit</keyword> at Rs 1,322 crore for the March 2024 quarter impacted by <keyword id="21700627" type="General" weightage="20" keywordseo="raw-materials-costs" source="keywords">raw materials costs</keyword> and some other expenses. It had clocked Rs 3,741 crore net profit during the fourth quarter of the last fiscal, the company said in an exchange filing on Friday. The company's total income also fell to Rs 46,511.28 crore from Rs 47,427 crore in January-March FY23. During the period under review, its expenses stood at Rs 44,401 crore, as against Rs 43,170 crore a year ago. Among the expenses, the cost of raw materials consumed by the company surged to Rs 24,541 crore from 23,905 crore in the January-March FY23. While "other expenses" increased to Rs 7,197 crore from Rs 6,653 crore in the year-ago period. In FY24, the net profit rose to Rs 8,973 crore from Rs 4139 crore in FY23. The income for the full year stood at Rs 1,76,010 crore, up from Rs 1,66,990 crore. The board of directors of the company announced a final dividend of Rs 7.30 for FY24. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/webstories/motorola-edge-50-fusion-vs-oneplus-nord-ce-4-price-specs-and-features-compared/slidelist/110197390.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/motorola-edge-50-fusion-vs-oneplus-nord-ce-4-price-specs-and-features-compared/slidelist/110197390.cms" target="_blank">Motorola Edge 50 Fusion vs OnePlus Nord CE 4 – price, specs and features compared</a><a href="https://www.businessinsider.in/india/news/average-housing-prices-up-10-in-jan-mar-across-the-top-eight-cities/articleshow/110181627.cms" target="_blank"></a> <a href="https://www.businessinsider.in/india/news/average-housing-prices-up-10-in-jan-mar-across-the-top-eight-cities/articleshow/110181627.cms" target="_blank">Average housing prices up 10% in Jan-Mar across the top eight cities</a><a href="https://www.businessinsider.in/tech/mobile/news/motorola-edge-50-fusion-with-144hz-poled-display-500mah-battery-launched-starting-at-22999/articleshow/110170762.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/motorola-edge-50-fusion-with-144hz-poled-display-500mah-battery-launched-starting-at-22999/articleshow/110170762.cms" target="_blank">Motorola Edge 50 Fusion with 144Hz pOLED display, 5,00mAh battery launched starting at ₹22,999</a>

JSW Steel Q4 net profit falls 65% to ₹1,322 crore

<ul><li>On Wednesday, <keyword id="142901" type="General" weightage="20" keywordseo="saic-motor" source="Orion">SAIC Motor</keyword> and <keyword id="144036" type="General" weightage="20" keywordseo="jsw-group" source="Orion">JSW Group</keyword> made a grand announcement of their joint venture, <keyword id="21026216" type="General" weightage="100" keywordseo="jsw-mg-motor-india" source="Orion">JSW MG Motor India</keyword>.</li><li>The new company will launch its first car during the festive season and is set to launch two cars in 2024.</li><li>The company has claimed that it will launch a new car every three to six months in the country.</li></ul> Mumbai, March 20: Chinese auto giant SAIC Motor and Indian conglomerate JSW Group have partnered to launch a new joint venture, named JSW <keyword id="5287148" type="General" weightage="20" keywordseo="mg-motor" source="Orion">MG Motor</keyword> India. On Wednesday, Sajjan Jindal, the chairman of the JSW Group, announced the JV’s ambitious new plans at an event here. The marque of MG Motor, whose portfolio includes the MG ZS EV, MG Comet, MG Astor and others in India, is owned by SAIC Motor. <cmsannotation type="cmsannotation" annotationid="Leveraging the strengths" comment="subhead" text="Leveraging the strengths">Leveraging the strengths</cmsannotation> The JV is aimed at using SAIC Motor’s expertise in the auto sector and the JSW Group’s manufacturing experience in the country. JSW MG Motor India will produce both electric and internal combustion engine (ICE) vehicles. JSW Group will also bring in the expertise of its group companies, such as JSW Energy to improve its infrastructure in the country. The JSW Group recently received approval from the Competition Commission of India (CCI) to acquire a 35% stake in MG Motor India. Parth Jindal, son of Sajjan Jindal and Sangita Jindal, has been appointed as a member of the steering committee of JSW MG Motor India. <cmsannotation type="cmsannotation" annotationid="A new car every three to six months" comment="subhead" text="A new car every three to six months">A new car every three to six months</cmsannotation> Speaking about the company’s ambitious plans, Sajjan Jindal said that the company will launch a new car every three to six months in the country. The first launch from the company will arrive during the festive season, in October 2024. The company aims to launch two cars in 2024. The first launch from the company is expected to be the MG4, which was showcased at the event in Mumbai on Wednesday. JSW MG Motor India aims to expand its production from the present 1 lakh units per year to three lakh units per year. To achieve this, the company will expand its production capacity at its Halol plant in Gujarat. These cars will be manufactured in India for both domestic consumption and exports. In addition, the company will also set up a new research and development facility in the country, Jindal added. <cmsannotation type="cmsannotation" annotationid="JSW MG Motor India will create a NEV Maruti moment" comment="subhead" text="JSW MG Motor India will create a NEV Maruti moment">JSW MG Motor India will create a NEV Maruti moment</cmsannotation> Speaking about how Maruti dominated the Indian auto market by launching new cars in the 1990s, Sajjan Jindal said that JSW MG Motor India wants to create a Maruti moment for new energy vehicles in the country and lead the segment by 2030. The company has said that it will also foray into the premium vehicles segment in India. It showcased the <keyword id="9206504" type="General" weightage="20" keywordseo="mg-Cyberster" source="Orion">MG Cyberster</keyword> at the event and announced that the car would soon make its India debut. The new JV will also focus on the emerging new energy vehicles (NEVs) in the country. Parth Jindal said that the company plans on capturing 33% of the NEV market by 2030 and aims to sell 1 million EVs in 2030. India will move from its current market of 4 million cars per year to 10 million cars a year, as per Jindal. While MG Motor’s sales in India reported decent growth in February 2024, the company is not among the country’s top five players. The company sold 4,532 vehicles in February 2024. SAIC Motor is a global Fortune 500 company with annual revenues of around US $110 billion, while the JSW Group is one of India’s leading global business conglomerates with US $23 billion in revenues across diversified businesses. SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/mobile-number-portability-revamped-to-reduce-sim-swap-frauds-here-are-the-new-rules/articleshow/108613683.cms">Mobile Number Portability revamped to reduce SIM swap frauds – Here are the new rules</a> <a href="https://www.businessinsider.in/business/auto/news/new-ev-policy-elon-musks-tesla-may-soon-enter-india-as-import-taxes-slashed-for-electric-vehicles/articleshow/108527306.cms">New EV Policy: Elon Musk’s Tesla may soon enter India as import taxes slashed for electric vehicles</a> <a href="https://www.businessinsider.in/business/auto/news/hyundai-creta-n-line-enters-indian-market-with-four-variants-starting-at-16-82-lakh/slidelist/108426938.cms">Launch alert: Hyundai Creta N Line enters Indian market with four variants, starting at ₹16.82 lakh</a>

JSW Group and SAIC Motor’s JV ‘JSW MG Motor India’ set to up production to 3 lakh vehicles a year with a new car every 3-6 months

The government on Tuesday said it received bids from seven companies including <keyword id="19896380" type="General" weightage="20" keywordseo="Reliance-Industries" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Industries" meta.hostid="261" meta.entityid="Reliance Industries">Reliance Industries</keyword> and <keyword id="20226597" type="General" weightage="20" keywordseo="JSW-Neo-Energy" source="keywords" meta.keywordsubtype="org" meta.entityname="JSW Neo Energy" meta.hostid="261" meta.entityid="JSW Neo Energy">JSW Neo Energy</keyword> for production-linked incentives to set up battery manufacturing facilities of 10 GWh capacity with an outlay of Rs 3,620 crore. The other bidders on the list included ACME Cleantech Solutions Private Limited, Amara Raja Advanced Cell Technologies Private Limited, Anvi Power Industries Private Limited, <keyword id="21402810" type="General" weightage="20" keywordseo="Lucas-TVS" source="keywords">Lucas TVS</keyword> Limited, and Waaree Energies Limited. The bids for manufacturing facilities with a cumulative capacity of 70 GWh came in response to a global tender issued by the Heavy Industries Ministry on January 24 this year. "The scheme received an overwhelming response from industry as bids received is 7 times the manufacturing capacity of 10 GWh to be awarded," the ministry stated. The ministry had announced the re-bidding of Production Linked Incentives (PLI) for 10 GWh <keyword id="20049274" type="General" weightage="20" keywordseo="Advanced-Chemistry-Cell" source="keywords">Advanced Chemistry Cell</keyword> (ACC) manufacturing. The pre-bid meeting was held on 12 February. The last date for receiving applications was April 22 and the technical bids were opened on Tuesday. In May 2021, the Union Cabinet had approved the PLI scheme for the National Programme on ACC battery storage with an outlay of Rs 18,100 crore. The scheme aims to achieve domestic manufacturing capacity of 50 Giga Watt hours (GWh) of battery storage. The first round of bidding was concluded in March 2022 and three companies were allocated a total capacity of 30 GWh. The agreement with selected companies was signed in July 2022. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-8a-may-be-more-expensive-than-its-predecessor-as-per-a-new-leak/articleshow/109499394.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-8a-may-be-more-expensive-than-its-predecessor-as-per-a-new-leak/articleshow/109499394.cms" target="_blank">Google Pixel 8a may be more expensive than its predecessor, as per a new leak</a><a href="https://www.businessinsider.in/tech/mobile/webstories/best-smartphones-under-25000-in-india/slidelist/109529634.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/best-smartphones-under-25000-in-india/slidelist/109529634.cms" target="_blank">Best smartphones under ₹25,000 in India</a><a href="https://www.businessinsider.in/sports/webstories/at-17-indian-chess-prodigy-d-gukesh-becomes-youngest-challenger-for-world-championship/slidelist/109492021.cms" target="_blank"></a> <a href="https://www.businessinsider.in/sports/webstories/at-17-indian-chess-prodigy-d-gukesh-becomes-youngest-challenger-for-world-championship/slidelist/109492021.cms" target="_blank">At 17, Indian chess prodigy D Gukesh becomes youngest challenger for World Championship</a>

Reliance, JSW Neo Energy and 5 others bid for govt incentives to set up battery manufacturing units

Mumbai, Benchmark equity indices Sensex and Nifty closed higher for the third straight session on Friday, following gains in index majors L&amp;T, ITC and Maruti and a record rally in the US markets after the Federal Reserve indicated three rate cuts this year. After falling in early trade, markets staged a smart recovery. The 30-share <keyword id="19895774" type="General" weightage="20" keywordseo="bse" source="keywords">BSE</keyword> Sensex climbed 190.75 points or 0.26 per cent to settle at 72,831.94. However, a sharp correction in IT and tech stocks limited the rise. During the day, it jumped 474.43 points or 0.65 per cent to 73,115.62. The NSE Nifty advanced 84.80 points or 0.39 per cent to 22,096.75. From the Sensex basket, <keyword id="20026907" type="General" weightage="20" keywordseo="sun-pharma" source="keywords">Sun Pharma</keyword>, Maruti, IndusInd Bank, Titan, ITC, <keyword id="19906967" type="General" weightage="20" keywordseo="tata-motors" source="keywords">Tata Motors</keyword>, Larsen &amp; Toubro and <keyword id="19971670" type="General" weightage="20" keywordseo="jsw-steel" source="keywords">JSW Steel</keyword> were the major gainers. On the other hand, Infosys, Wipro, HCL Technologies, Tata Consultancy Services, <keyword id="19924892" type="General" weightage="20" keywordseo="tech-mahindra" source="keywords">Tech Mahindra</keyword> and <keyword id="19950210" type="General" weightage="20" keywordseo="bajaj-finserv" source="keywords">Bajaj Finserv</keyword> were among the laggards. The BSE IT index fell 2 per cent. In Asian markets, Seoul, Shanghai and Hong Kong settled lower, while Tokyo ended in the positive territory. European markets were trading on a mixed note. Wall Street tapped fresh record peaks on Thursday. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,826.97 crore on Thursday, according to exchange data. Global oil benchmark Brent crude dipped 0.22 per cent to USD 85.59 a barrel. The BSE benchmark jumped 539.50 points or 0.75 per cent to close at 72,641.19 on Thursday. The NSE Nifty climbed 172.85 points or 0.79 per cent to 22,011.95.

Stock markets rise for third session; Sensex gains 190 pts

Mumbai, Benchmark equity indices Sensex and Nifty jumped in early trade on Thursday in-tandem with a rally in global markets after the <keyword id="19951097" type="General" weightage="20" keywordseo="us-fed" source="keywords">US Fed</keyword> projected three rate cuts this year. The 30-share BSE Sensex jumped 595.02 points to 72,696.71 in early trade. The <keyword id="19950205" type="General" weightage="20" keywordseo="nse-nifty" source="keywords">NSE Nifty</keyword> climbed 181.85 points to 22,020.95. From the Sensex basket, <keyword id="19950204" type="General" weightage="20" keywordseo="tata-steel" source="keywords">Tata Steel</keyword>, <keyword id="19971670" type="General" weightage="20" keywordseo="jsw-steel" source="keywords">JSW Steel</keyword>, IndusInd Bank, Power Grid, Wipro, and <keyword id="19903558" type="General" weightage="20" keywordseo="ntpc" source="keywords">NTPC</keyword> were the biggest gainers. Maruti and <keyword id="20050687" type="General" weightage="20" keywordseo="nestle" source="keywords">Nestle</keyword> were the laggards. In Asian markets, Seoul, Tokyo, and Hong Kong were trading significantly higher while Shanghai quoted lower. Wall Street ended with remarkable gains on Wednesday. "The uncertainty regarding the Fed decision is over with the Fed keeping the rates unchanged and refraining from a hawkish message. The Fed chief's statement that "inflation has eased substantially while the labour market has remained strong" conveys conviction about the soft landing of the US economy and the possibility of probably three rate cuts this year. "The response from the market was the US indices racing to record highs. This favourable global construct will have its positive impact on Indian markets too," said V K Vijayakumar, Chief Investment Strategist, <keyword id="19933343" type="General" weightage="20" keywordseo="geojit-financial-services" source="keywords">Geojit Financial Services</keyword>. Global oil benchmark Brent crude climbed 0.61 per cent to USD 86.47 a barrel. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,599.19 crore on Wednesday, according to exchange data. "In a market buoyed by record closing on Wall Street and a confident stance from the Fed, Nifty is poised for significant gains, supported by optimistic economic projections," said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd. The 30-share BSE benchmark rebounded 89.64 points or 0.12 per cent to settle at 72,101.69 on Wednesday. The NSE Nifty climbed 21.65 points or 0.10 per cent to 21,839.10.

Sensex, Nifty surge in early trade amid global markets rally on US Fed rate cut plans

Mumbai, Benchmark equity indices rebounded in early trade on Wednesday after a sharp decline in the previous trade amid a rally in global markets and fresh foreign fund inflows. The 30-share BSE Sensex rebounded 237.36 points to 72,249.41 in early trade. The <keyword id="19950205" type="General" weightage="20" keywordseo="nse-nifty" source="keywords">NSE Nifty</keyword> climbed 74.25 points to 21,891.70. From the Sensex basket, Maruti, Power Grid, Nestle, IndusInd Bank, <keyword id="19950119" type="General" weightage="20" keywordseo="tata-consultancy-services" source="keywords">Tata Consultancy Services</keyword>, and Wipro were the major gainers. <keyword id="19971670" type="General" weightage="20" keywordseo="jsw-steel" source="keywords">JSW Steel</keyword>, <keyword id="19950204" type="General" weightage="20" keywordseo="tata-steel" source="keywords">Tata Steel</keyword>, Hindustan Unilever, and <keyword id="19906967" type="General" weightage="20" keywordseo="tata-motors" source="keywords">Tata Motors</keyword> were among the laggards. In Asian markets, Seoul, Shanghai, and Hong Kong were trading in positive territory. Wall Street ended with gains on Tuesday. Foreign Institutional Investors (FIIs) bought equities worth Rs 1,421.48 crore on Tuesday, according to exchange data. <keyword id="20226500" type="General" weightage="20" keywordseo="prashanth-tapse" source="keywords">Prashanth Tapse</keyword>, Senior VP (Research), Mehta Equities Ltd, said in his pre-opening market comment that this Wednesday morning brings optimism with positive catalysts such as FII's buying activity and favorable Wall Street performance. Global oil benchmark Brent crude dipped 0.17 per cent to USD 87.23 a barrel. "Fed's rate decision, more importantly, the Fed commentary tonight, will decide the trend in the mother market US," said <keyword id="19931025" type="General" weightage="20" keywordseo="v-k-vijayakumar" source="keywords">V K Vijayakumar</keyword>, Chief Investment Strategist, Geojit Financial Services. The 30-share BSE benchmark tanked 736.37 points or 1.01 per cent to settle at 72,012.05 on Tuesday. The NSE Nifty slumped 238.25 points or 1.08 per cent to finish at 21,817.45.

Markets rebound in early trade on rally in global equities, foreign fund inflows

Mumbai, Equity benchmark indices Sensex and <keyword id="19896381" type="General" weightage="20" keywordseo="nifty" source="keywords">Nifty</keyword> hit their fresh record peaks in early trade on Thursday amid firm trend in the US markets and foreign fund inflows. The 30-share BSE Sensex climbed 159.18 points to reach an all-time peak of 74,245.17 in early trade. The Nifty went up by 49.6 points to 22,523.65. However, later the markets turned volatile and both the benchmark indices were trading between highs and lows. Among the Sensex firms, <keyword id="19971670" type="General" weightage="20" keywordseo="jsw-steel" source="keywords">JSW Steel</keyword>, <keyword id="19950204" type="General" weightage="20" keywordseo="tata-steel" source="keywords">Tata Steel</keyword>, <keyword id="19955371" type="General" weightage="20" keywordseo="bajaj-finance" source="keywords">Bajaj Finance</keyword>, <keyword id="19950210" type="General" weightage="20" keywordseo="bajaj-finserv" source="keywords">Bajaj Finserv</keyword>, Asian Paints and <keyword id="19934368" type="General" weightage="20" keywordseo="state-bank-of-india" source="keywords">State Bank of India</keyword> were the major gainers. Mahindra &amp; Mahindra, Infosys, Axis Bank and ICICI Bank were among the laggards. In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong were trading lower. The US markets ended in the positive territory on Wednesday. Foreign Institutional Investors (FIIs) bought equities worth Rs 2,766.75 crore on Wednesday, according to exchange data. "There are some distinct trends in the market now. One, largecaps are outperforming mid and smallcaps. Two, Bank Nifty is emerging stronger led by private sector majors like ICICI Bank, Axis Bank and Kotak Bank. Three, regulatory action on some NBFCs have impacted sentiments in the entire NBFC space, which, in turn, is improving sentiments in the high quality private banking space," said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services. Global oil benchmark Brent crude dipped 0.13 per cent to USD 82.85 a barrel. The BSE benchmark jumped 408.86 points or 0.55 per cent to settle at a new record high of 74,085.99 on Wednesday. The Nifty climbed 117.75 points or 0.53 per cent to settle at a fresh closing peak of 22,474.05.

Sensex, Nifty hit fresh record peaks in early trade; JSW Steel & Tata Steel among top gainers

New Delhi, <keyword id="47954" type="General" weightage="20" keywordseo="JSW-Energy" source="Orion">JSW Energy</keyword> Ltd on Friday announced appointment of <keyword id="2514251" type="General" weightage="20" keywordseo="Sharad-Mahendra" source="Orion">Sharad Mahendra</keyword> as Joint Managing Director and CEO of the company. His appointment is effective from February 1, 2024, the company said in an exchange filing. "Consequent to the vacancy created on account of Prashant Jain's decision to take early retirement, Sharad Mahendra has been appointed as a Whole-time Director (Joint Managing Director &amp; CEO - Designate) with effect from December 1, 2023," JSW Energy said. His appointment as a Whole-Time Director is effective from December 1, 2023 for a term of 5 years. Mahendra will take charge as Joint Managing Director and CEO with effect from February 1 next year. Jain will continue to be Joint Managing Director &amp; CEO till January 31, 2024. Prior to this appointment, Mahendra was CEO of JSW Steel Coated Products Limited (a 100 per cent subsidiary of JSW Steel Limited). He has worked with JSW Energy earlier as well as Chief Operating Officer (Energy Business) in 2017 where he led the power sales, mining, corporate commercial, legal, coal procurement, regulatory and corporate affairs functions. In 2019, he was appointed as a Whole-Time Director of the company. He left JSW Energy in 2020 to join as CEO of JSW Steel Coated Products Limited.

JSW Energy appoints Sharad Mahendra as Joint MD & CEO

<ul><li>QIB portion of the offer was subscribed 57 times on the last day. </li><li>Retail and NII portion of the offer received a good response . </li><li>This the first IPO from the Sajjan Jindal-led JSW group in 13 years.</li></ul> JSW Infrastructure’s ₹2,800 crore initial public offer (IPO) was subscribed 37 times by the end of the last day of the offer. Qualified institutional buyers (QIBs) rushed into bid for the offer on the last day as this portion was subscribed 57 times. Retail and non-institutional investor portions received good response. The offer fixed a price band of ₹113-119 per equity share. This the first IPO from the Sajjan Jindal-led JSW group in 13 years. The offer is a completely fresh issue and it intends to use the proceeds to pay loans, and use the rest towards capex to commission and expand projects, besides general corporate purposes. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Category </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">No of times subscribed </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">QIBs </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">57.09 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Non institutional investors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15.99 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Retail </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10.31 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">37.37 </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> Source: BSE Long-term play say analysts JSW Infra is India’s second largest private port operator after Adani Ports &amp; SEZ. The company expanded from one port in Mormugao in 2002 to nine ports as of June, 2023. Its ports are present in Maharashtra, Goa, Karnataka on the west coast, and Odisha and Tamil Nadu on the east coast. It also operates two port terminals under operations &amp; maintenance agreements in Fujairah Terminal and Dibba Port in the UAE. It also plans to expand its operations through brownfield and greenfield projects. It also has a third party cargo business in India and witnessed a compounded annual growth rate of 65% between FY21 to FY23. The company’s revenues and profits have been steadily growing for the last three years. Its total debt as of June 2034 is at ₹4,228 crore. “JSW Infra is well-positioned to benefit from the continued growth of the Indian economy. We think the company has diversified its cargo profile and geographical spread which have helped them to minimize the risk and ensure stability," said Prashanth Tapse, senior VP of research at Mehta Equities which recommends investors to ‘subscribe for long term’. “We like the way the company is strategically focusing on expanding its footprint in non-major ports which would help them to broaden their operations to provide fully integrated logistics solutions,”’ Tapse adds. An IPO note by Anand Rathi also says that JSW Infrastructure has strategically located assets at close proximity to JSW group customers and industrial clusters supported by a multi-modal evacuation infrastructure and predictable revenues. “At the upper price band, the company is valuing at P/E of 27x, with a marketcap of ₹2,49,900 million post issue of equity shares and return on net worth of 18.8%. We believe that valuations of the company are fairly priced and recommend a ‘subscribe-long term’ rating to the IPO,” said Anand Rathi.

You Searched For "jsw" and got 13 results

SEBI places JSW Cement's Rs 4,000-cr IPO on hold for now

PTI

JSW Energy gets contract from SECI for supply of 230 MW renewable energy

PTI

Stock market closing: Nikkei makes a sharp rebound, Sensex ends below 79k and Nifty slips below 24k

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Stock market closing: Sensex, Nifty close the week in red, Sensex tumbles over 800 points

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JSW Steel Q4 net profit falls 65% to ₹1,322 crore

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JSW Group and SAIC Motor’s JV ‘JSW MG Motor India’ set to up production to 3 lakh vehicles a year with a new car every 3-6 months

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Reliance, JSW Neo Energy and 5 others bid for govt incentives to set up battery manufacturing units

PTI

Stock markets rise for third session; Sensex gains 190 pts

PTI

Sensex, Nifty surge in early trade amid global markets rally on US Fed rate cut plans

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Markets rebound in early trade on rally in global equities, foreign fund inflows

PTI

Sensex, Nifty hit fresh record peaks in early trade; JSW Steel & Tata Steel among top gainers

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JSW Energy appoints Sharad Mahendra as Joint MD & CEO

PTI

JSW Infrastructure’s IPO subscribed 37x as QIBs rush in

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