Jindal Stainless’ Business Consolidation In Focus, Says IDBI Capital
A ladle drops scrap steel into a furnace at the steel melting shop at the Jindal Stainless Ltd. factory in Hisar, Haryana, India (Photographer Udit Kulshrestha/Bloomberg)

Jindal Stainless’ Business Consolidation In Focus, Says IDBI Capital

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BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

IDBI Capital Report

We interacted with Anurag Mantri, Chief Financial Officer at Jindal Stainless Ltd. to discuss the company’s business outlook.

The company is India’s largest stainless steel manufacturer with a capacity of 1.1 million tonne per annum.

In the near-term, the company aims to focus on deleveraging while it will announce expansion-related capex in March 2021.

The company’s board has scheduled a meeting on December 29, 2020 to consider a merger/ scheme of arrangement with its group company, Jindal Stainless (Hisar).

Click on the attachment to read the full report:

IDBI Capital Jindal Stainless Company Update.pdf

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