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Jindal Stainless - On Strong Footing: ICICI Direct

Jindal Stainless - On Strong Footing: ICICI Direct

<div class="paragraphs"><p>A worker stands next to steel tubes in the finished goods scrap yard at the Jindal Stainless Ltd. factory in Hisar, Haryana, India. (Photographer: Udit Kulshrestha/Bloomberg)</p></div>
A worker stands next to steel tubes in the finished goods scrap yard at the Jindal Stainless Ltd. factory in Hisar, Haryana, India. (Photographer: Udit Kulshrestha/Bloomberg)

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.

ICICI Direct Report

Jindal Stainless Ltd. is planning to double the melting capacity in Jajpur, Odisha through the brownfield expansion route.

Along-with the melting capacity, the company also plans to increase its downstream capacity by increasing the capacity of hot rolled annealed pickled and cold rolled annealed pickled.

Furthermore, Jindal Stainless is also strengthening backward integration through ferro chrome augmentation.

For the company, the estimated total capex for the above-mentioned plans is ~Rs 2150 crore, which is less than one-third of the greenfield capex cost.

Click on the attachment to read the full report:

ICICI Direct Jindal Stainless Company Update.pdf

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