Shares of Jindal Steel and Power Ltd. ended the day 1% down after reaching a day’s high of Rs 1,043.70 on 19th September, following the company’s announcement of a Rs 1,500 crore capital expenditure to significantly increase its production capacity.

This investment is expected to boost the company’s capacity by 60%. This will be adding 0.6 million metric tons (MT) to its existing 1 million MT per annum.

The expansion will target coated flat products, hollow section pipes for construction, and crash barriers, crucial for the infrastructure and renewable energy sectors.

New production lines at Jindal India’s Ranihati facility in Howrah, West Bengal, are expected to be fully operational by FY26, with advanced equipment from global manufacturers like John Cockerill and Esmech Equipment (SMS Group).

With this investment, the firm aims to modernise its facilities, diversify its product range, and capture new markets like solar energy and home appliances, supporting the government’s import substitution goals.

They are planning to strengthen their domestic presence in colour-coated sheets, explore opportunities in solar mounting structures, and contribute to infrastructure development, particularly with crash barriers for highways.
At 3:30 PM, the shares of Jindal Steel and Power closed 1.05% lower at Rs 1,014.05 on NSE.

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