Shares of Jindal Steel and Power Ltd was higher by 9% at Rs. 260. Report says that the company will raise Rs 1,000 crore through qualified institutional placement (QIP) route in February, its chairman Naveen Jindal said.
The stock has hit a high of Rs.270 and a low of Rs. 245.
JSPL is an industrial powerhouse with a dominant presence in steel, power, mining and infrastructure sectors. Part of the US $ 18 billion OP Jindal Group this young, agile and responsive company is constantly expanding its capabilities to fuel its fairy tale journey that has seen it grow to a US $ 3.3 billion business conglomerate.
JSPL operates the largest coal-based sponge iron plant in the world and has an installed capacity of 3 MTPA (million tonnes per annum) of steel at Raigarh in Chhattisgarh. Also, it has set up a 0.6 MTPA wire rod mill and a 1 MTPA capacity bar mill at Patratu, Jharkhand, a medium and light structural mill at Raigarh, Chhattisgarh and a 2.5 MTPA steel melting shop and a plate mill to produce up to 5.00-meter-wide plates at Angul, Odisha.