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<keyword id="45609" type="DOMAIN" weightage="20" keywordseo="jsw-steel" botkeyword="" source="ET" sourcekeytype="COMPANY" meta.keywordsubtype="EQ" meta.aliasname="jsw steel" meta.entityname="JSW Steel Ltd." meta.entityid="8352" meta.seoname="jsw-steel-ltd">JSW Steel</keyword> on Tuesday said its subsidiary, <keyword id="1708324" type="General" weightage="50" keywordseo="jsw-steel-coated-products" source="Orion">JSW Steel Coated Products</keyword>, has entered into an agreement to acquire 31 per cent stake in startup <keyword id="16229994" type="General" weightage="80" keywordseo="ayena" source="Orion">Ayena</keyword> Innovation in home furnishings and decor space for a cash consideration of Rs 5.99 crore. According to the statement released on Tuesday, this proposed investment is in line with endeavours of JSW Steel Coated Products Limited to explore new avenues to increase the consumption of coated steel products. The statement of the company also added this investment will enable JSWSCPL to further diversify its customer portfolio mix and enhancing its presence in the retail business. JSW Steel said the company through its wholly-owned subsidiary, JSWSCPL, proposes to acquire 31 per cent equity shareholding in Ayena. The company said in the statement shared with stock exchanges on Tuesday that the indicative time-period for the completion of the acquisition was 45 days from the execution date of the agreements. JSW Steel is an Indian multinational steel producer based in Mumbai and is a flagship company of the <keyword id="144036" type="General" weightage="50" keywordseo="jsw-group" source="Orion">JSW Group</keyword>. After the merger of <keyword id="13989344" type="DOMAIN" weightage="20" keywordseo="ispat" botkeyword="" source="ET" sourcekeytype="COMPANY" meta.keywordsubtype="EQ" meta.aliasname="ispat" meta.entityname="Heera Ispat Ltd." meta.entityid="3987" meta.seoname="heera-ispat-ltd">ISPAT</keyword> Steel and Jindal <keyword id="16229995" type="General" weightage="50" keywordseo="vijayanagar-steel-limited" source="Orion">Vijayanagar Steel Limited</keyword>, JSW Steel became India's second-largest private-sector steel company. Founded in 2013, JSWSCPL claims to be the country's largest manufacturer and exporter of colour-coated steel products, and a wholly owned subsidiary of JSW Steel, according to the company's website. The statement also added that Ayena is a start-up registered by the Department for Promotion of Industry and Internal Trade and will be in the business of development, manufacturing, and sales of quick-to-install modular solutions including modular kitchens. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/maruti-suzukis-q3-net-profit-zooms-133-to-2351-crore-on-lower-input-costs/articleshow/97275909.cms">Maruti Suzuki’s Q3 net profit zooms 133% to ₹2,351 crore on lower input costs</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/5g-network-can-be-misused-for-drug-trafficking-money-laundering-terror-financing-papers-submitted-at-dgps-meet/articleshow/97278524.cms">5G network can be misused for drug trafficking, money laundering, terror financing: Papers submitted at DGPs' meet</a>

JSW Steel arm enters into deal to buy 31% stake in startup Ayena

<ul><li><keyword id="144036" type="General" weightage="70" keywordseo="jsw-group" source="Orion">JSW Group</keyword> is considering a foray into the manufacturing of EVs.</li><li>JSW Group company <keyword id="45609" type="DOMAIN" weightage="20" keywordseo="jsw-steel" botkeyword="" source="ET" sourcekeytype="COMPANY" meta.keywordsubtype="EQ" meta.aliasname="jsw steel" meta.entityname="JSW Steel Ltd." meta.entityid="8352" meta.seoname="jsw-steel-ltd">JSW Steel</keyword> owns and operates a one million tonne per annum (MTPA) steel plant at <keyword id="6357470" type="General" weightage="20" keywordseo="salem" source="Orion">Salem</keyword> in <keyword id="20154" type="General" weightage="20" keywordseo="tamil-nadu" source="Orion">Tamil Nadu</keyword>. </li></ul>Sajjan Jindal-led conglomerate JSW Group is considering a foray into the manufacturing of electric vehicles, according to a top official of the group. "The group had examined EV manufacturing plans earlier also but now it is becoming attractive," JSW Group Chief Financing Officer Seshagiri Rao told PTI. The manufacturing of EVs is being discussed actively at the group level, he said while divulging JSW Group's plan to expand its presence into more sectors. The group is looking to manufacture four-wheelers, Rao said. When asked about details of the manufacturing location, he said it is yet to be decided. On the timeline for the launch of an EV manufacturing facility, he said, "it (plan) is at advanced stages." JSW Group company JSW Steel owns and operates a one million tonne per annum (MTPA) steel plant at Salem in Tamil Nadu. The company manufactures auto-grade steel at Salem plant and supplies the high-value steel to automobile companies including the EVs makers. Besides, the USD 22 billion group has a significant presence in sectors like energy, infrastructure, cement, paints, <keyword id="15308892" type="TOPIC" weightage="60" keywordseo="Venture-Capital" source="TOPIC" sourcekeytype="economy,investopedia" meta.keywordsubtype="null" meta.seopath="v/venture-capital" meta.entityname="Venture Capital" meta.hostid="153" meta.entityid="venture-capital">venture capital</keyword> and sports. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/ces-2023-dates-news-products-and-what-to-expect/articleshow/96591686.cms">All-new Apple CarPlay features to AI for automobiles — here are some car technologies expected to arrive in 2023</a> <a href="https://www.businessinsider.in/tech/news/ces-2023-dates-news-products-and-what-to-expect/articleshow/96591686.cms">CES 2023: Dates, news, products, and what to expect</a>

JSW Group mulls foray into EVs, to manufacture 4-wheelers

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>The <keyword id="14750713" type="General" weightage="50" keywordseo="jsw-technology-hub" source="Orion">JSW Technology Hub</keyword> will help develop solutions for steel manufacturing in India. </li></ul><ul><li>Both will collaborate on research, training, and technical studies on new and sustainable steel technologies. </li></ul><ul><li>The <keyword id="14752497" type="General" weightage="50" keywordseo="sajjan-jindal-steel" source="Orion">Sajjan Jindal Steel</keyword> Professor Chair will be instituted at <keyword id="61708" type="General" weightage="80" keywordseo="iit-bombay" source="Orion">IIT Bombay</keyword> for research in sustainable steel manufacturing and its use. </li></ul>Indian business conglomerate <keyword id="13852" type="General" weightage="100" keywordseo="jsw" source="Orion">JSW</keyword> Group and one of India’s premier engineering institutes, <keyword id="6354859" type="General" weightage="80" keywordseo="iit" source="Orion">IIT</keyword> <keyword id="6356654" type="General" weightage="80" keywordseo="bombay" source="Orion">Bombay</keyword>, have tied up to establish a technology hub for developing solutions for steel manufacturing in India. JSW will provide financial and technical support to IIT Bombay for constructing the JSW Technology Hub. IIT Bombay is expected to complete the construction by FY28. The JSW Technology Hub will be established within IIT Bombay’s Center of Excellence in Steel Technology (CoEST). Its key objective would be to achieve expansion of quality steel production while curbing carbon emissions. “Our thrust on R&amp;D and product development has made us the largest and preferred supplier across categories. JSW Group’s strategic partnership with IIT Bombay is a progressive step on our ongoing journey to be future-ready,” said <keyword id="216472" type="General" weightage="50" keywordseo="seshagiri-rao" source="Orion">Seshagiri Rao</keyword>, joint MD <keyword id="45609" type="General" weightage="50" keywordseo="jsw-steel" source="Orion">JSW Steel</keyword> and group CFO. JSW and IIT Bombay will collaborate on research, training and technical studies on new and emerging steel technologies. IIT Bombay will also institute the Sajjan Jindal Steel Professor Chair to enable focused training and research on new and emerging technologies in steel manufacturing. A joint steering committee will be established with representation from both IIT Bombay and JSW Steel to steer the technical collaboration between the two entities. “This powerful combination will jointly leverage IIT Bombay’s knowledge-rich faculties and JSW’s technical capabilities to develop novel industrial applications for steel manufacturing with focus on low carbon emissions,” <keyword id="13864" type="General" weightage="50" keywordseo="sangita-jindal" source="Orion">Sangita Jindal</keyword>, chairperson of JSW Foundation, said. “Our CoEST has a vision to facilitate the Indian steel sector to become a world leader, “ Subhasis Chaudhuri, Director, IIT Bombay added.

IIT Bombay and JSW Group to establish a technology hub for steel manufacturing

<ul><li>Metal company stocks were rallying up to 5% today on rising prices of the commodity after crude oil prices hit a two-month high.</li><li>Analysts say rise in input cost due to high crude oil prices and low production capacity at sites have increased the prices of metals, which is good for the company.</li><li>Nifty Metal is the top gainer among sectoral index with 2.6% gains.</li></ul>While the outlook for <a href="https://www.businessinsider.in/business/corporates/news/hindalco-is-a-better-bet-than-tata-steel-because-electric-vehicles-need-aluminium/articleshow/88827641.cms">steel makers remains</a> cloudy, the weakening of the dollar is propping up commodity prices including metals as well as crude oil. When the dollar weakens, the same amount of any commodity costs more in terms of dollars. Therefore, prices increase. And, the stocks of metal companies are mirroring that optimism. Nifty Metal is the top gainer among sectoral index with 2.6% gains. Metal prices are said to be rising because of high crude oil prices and lower production with companies, which is boosting the prices upwards. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></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;">Metal companies </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;">Jan 13 change </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;">Jindal Steel &amp;Power </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;">5% </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;">Tata Steel </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;">4.6% </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;">JSW Steel </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;">3.5% </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;">Coal India </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;">3.2% </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;">NMDC </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;">2.4% </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;">Hindustan Copper </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;">2.3% </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;">SAIL </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;">2% </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;">Vedanta </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;">1.7% </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;">APL Apollo Tubes </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;">1.37% </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;">Adani Enterprises </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;">1% </td></tr></tbody></table>(Prices as at 1 p.m) Relation between metal prices and crude oil prices “There are reasons for the rise. One is that metals stocks are always linked to crude oil prices and, right now, they have jumped $84 per barrel, which is probably at a recent high. Usually when crude prices go up, base commodity prices also go up, which is a good thing for metal companies,” said Deven R Choksey, managing director at KR Choksey Investment Managers told Business Insider. Currently, the crude oil prices are at $85 per barrel, trading at a 2-month high after the US oil inventory fell for the seventh straight week to levels last seen in 2018. Note that crude oil is a basic input in the production process and is used to fuel cars and planes for transportation and generate electricity for use in production of goods and services. So any change in the price of oil will impact the costs for the company and hence increase the product price. Another reason for the rise in metal prices is that companies had cut down production in recent weeks because they thought the demand wasn’t strong enough. “Anywhere across the globe particularly Europe production capacities at being pared, they (companies) are not increasing the production be it because of environment issues or covid related restrictions. Many companies have been keeping their production capacity at a lower level, which is resulting in higher prices of the product due to shortage of supply,” added Choksey. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/tcs-shareholders-cheer-share-buyback-and-strong-growth/articleshow/88867953.cms">TCS shareholders cheer share buyback and strong growth</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/wipro-slips-6-on-disappointment-over-poor-than-expected-earnings-performance/articleshow/88870822.cms">Wipro slips 6% on disappointment over poor than expected earnings performance</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/swiggy-will-deliver-stuff-on-tvs-motors-electric-scooters-following-footsteps-of-zomato-amazon-and-flipkart/articleshow/88872404.cms">Swiggy will deliver stuff on TVS Motors’ electric scooters</a>

Metals are mirroring the rally in crude oil and the recent output cuts are helping

Mumbai, Feb 5 () Sajjan Jindal-led JSW Steel on Wednesday said it plans to increase its colour coated steel capacity by nearly three times in the next two years, and is looking at organic as well as inorganic expansion to achieve it. The company has also appointed Indian cricketer Rishabh Pant as its brand ambassador for three years to promote its colour coated steel sheets brand JSW Colouron+ as well as TMT bar brand JSW Neosteel. "We are seeing a growing demand for colour coated steel from individual home builders and industries as well as warehousing sector. We want to increase our existing capacity by nearly three times in the next two years to be future ready," JSW Group's Parth Jindal told reporters. Currently, the company's colour coated steel manufacturing capacity is around 0.75 MTPA which it will take to over 2.1 MTPA in the next two years. "As a part of our strategy to promote the brand, we decided to induct Pant as our brand ambassador to connect with the youth and to spread awareness about these high quality products," he added. Commenting on capacity addition plans, JSW Steel Director (commercial, marketing and corporate strategy) Jayant Acharya said the company will look at greenfield as well as brownfield expansions. "The acquisition of Asian Colour Coated has been a move in the direction to increase the capacity of colour coated sheets. We will look at similar opportunities as well as grow organically to achieve the target," he added. In India, the demand for colour coated sheets is around 2.5 MTPA and the installed capacity is around 3.5 MTPA, running at a utilisation of 85 per cent. "The demand for colour coated sheets is multi-fold, be it in appliances, pre-engineered buildings, warehouses, roofing and cladding, commercial building, among others. The demand is at mid- double digit and with the focus on these sectors, the demand will further grow," Acharya added. On TMT bars capacity, he said the company has a capacity of 3.5 MTPA of TMT bars, and will scale it up going forward. "The demand will be driven mainly due to the infrastructure and construction push given in the Budget and has also been the focus of the government," Acharya added. JSW Steel, the flagship company of the diversified USD 14 billion JSW Group, has already embarked on a Rs 48,000 crore capex plan for its growth. PSK RVK

You Searched For "jsw steel coated products" and got 7 results

JSW Steel arm enters into deal to buy 31% stake in startup Ayena

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IIT Bombay and JSW Group to establish a technology hub for steel manufacturing

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Metals are mirroring the rally in crude oil and the recent output cuts are helping

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JSW Steel to triple colour coated steel capacity in 2 years

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The collapse of Evergrande, one of China’s largest home developers, is “not a Lehman moment” but the fear may haunt steel and metal stocks in India

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