Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × ICICI Direct's research report on Jindal Stainless Jindal Stainless (JSL) is among leading stainless steel manufacturing companies in the world & India’s largest stainless steel manufacturer. JSL operates an integrated stainless steel plant at Jajpur, Odisha. The complex has a total stainless steel capacity of 1.1 million tonnes per annum • The company has readily available infrastructure for cost efficient brownfield expansion. Outlook We maintain our BUY rating on the stock. We value JSL at Rs 300, based on a merged entity basis. For all recommendations report, click here Read More Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its … [Read more...] about Buy Jindal Stainless; target of Rs 300: ICICI Direct
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Sterlite Tech logs Rs 50 crore net profit in December quarter
Optical and digital solutions company Sterlite Technologies on Friday reported a net profit of Rs 50 crore for the December 2022 quarter against a loss of Rs 138 crore a year ago. The loss in Q3 FY22 included a one-time provision, a top company official explained. The revenue from operations for the just-ended quarter stood at Rs 1,882 crore, which on a year-on-year basis was about 46 per cent higher than the Q3 FY22. In a statement on the Q3 scorecard, STL said it demonstrated a sharp focus on growth areas, operational efficiencies and strategic capital allocation, resulting in strong financial performance. ”Company revenues grew by 46 per cent on a year-on-year basis, and 28 per cent on YTD (year-till-date) basis, and EBITDA increased by 17 per cent on a YTD basis,” STL said. It recorded a net profit of Rs 50 crore in Q3 FY23, a turnaround compared to the losses of Rs 138 crore in the same period the previous year.Seen sequentially, the net profit was up 13.6 per cent … [Read more...] about Sterlite Tech logs Rs 50 crore net profit in December quarter
Tata Chemicals Europe inks pact with Vertex for low carbon hydrogen supply
TCE is one of Europe’s leading producers of sodium carbonate, salt and sodium bicarbonate (Representative image) Tata Chemicals Europe (TCE) and Vertex Hydrogen have signed an offtake agreement for the supply of over 200 megawatts of low carbon hydrogen, according to a press release on January 26. Under the new pact, Vertex will supply TCE with hydrogen as the chemicals manufacturer continues to decarbonise its operations in the UK with a target of achieving “net zero” manufacturing by 2030. “We have been supporters of Vertex and the low carbon hydrogen segment as a real opportunity to further reduce emissions at our world class CHP facility," TCE Managing Director Martin Ashcroft said. Also Read | Essar Oil UK inks offtake deal with Vertex Hydrogen Vertex Chief Executive Officer Joe Seifert said the company is "thrilled to sign these heads of terms with Tata Chemicals Europe, as an industry leader driving tangible change to reduce emissions". Read More … [Read more...] about Tata Chemicals Europe inks pact with Vertex for low carbon hydrogen supply