JSW Steel is partnering with Japan s JFE Steel Corporation to form a 50:50 joint venture, JSW JFE Electrical Steel Private Limited. The new company will invest Rs 5,500 crore ($734 million) to set up a plant in Bellary, Karnataka, producing grain-oriented electrical steel. Production is expected to start in FY27, with potential for capacity expansion to meet growing demand in India.
India s biggest steel producer intends to bid for 20% to 40% of Elk Valley Resources Ltd., a unit of the Canadian company, Jindal said. JSW, along with some Japanese and South Korean mills, is planning to buy a stake in the asset and a combined offer could value the unit at $8 billion, he said
JSW Steel's volumes are likely to be aided by a pickup in domestic demand and the benefits of low coking coal costs are expected to accrue in Q2FY24, noting that JSW Steel is well-placed.
Titan remains an attractive investment case in the largecap consumption space in India, with strong earnings growth visibility and compounding 20 per cent for an elongated period of time, Motilal Oswal said