JSW GROUP
India Inc. is profitable. So why isn’t it investing?
Indian companies are making record profits, but they are not investing in new factories or infrastructure. This is creating fewer jobs and increasing inequality. Unlike China, which invests heavily, Indian businesses are hesitant. This trend risks trapping India in scarcity. Leaders must decide on a path towards mass affluence now.
Big corporates plug into electric trucks as rising diesel and logistics expenses drive a rethink
Indian companies are rapidly investing in electric trucks. This shift is driven by fluctuating diesel prices and a focus on sustainability. Major firms like Ultratech Cement and Vedanta are expanding their electric fleets. Manufacturers report a surge in corporate interest. Electric truck registrations are soaring, indicating growing acceptance and deployment across various sectors.
Reliance Industries-led consortium wins bid for 101-acre Mumbai slum redevelopment project
A Reliance-led consortium has secured the bid for the massive Juhu Galli slum redevelopment in Mumbai. This project will build over 28,000 homes for residents. The Maharashtra government's cluster redevelopment policy guides this initiative. The developer must provide significant financial support for resident transit accommodation. This marks a major step in large-scale slum redevelopment in the city.
JSW Steel crude steel production rises 15% to 22.93 LT
JSW Steel reported a significant 15 percent jump in crude steel production for May. The company produced 22.93 lakh tonnes, a notable increase from the previous year. This growth was fueled by the full operational capacity of the Dolvi unit and the ramp-up of JVML operations. JSW Steel USA-Ohio also saw a 20 percent rise in its output.
Adani Properties tops bids for MHADA’s Worli, Bandra cluster redevelopment
Adani Properties has emerged as the highest bidder for two major Mumbai cluster redevelopment projects, Adarsh Nagar in Worli and Bandra Reclamation. A consortium led by JSW Group's Hanura Realty secured the bid for the S.V. Nagar project in Andheri West. These projects, covering over 206 acres, await final government approval.
China's SAIC to sell another 10% stake in Indian car venture to local partner JSW - sources
China's SAIC Motor is selling an additional 10% stake in its Indian car venture, JSW MG Motor, to local partner JSW Group. This move will elevate JSW to the largest shareholder, granting it greater operational control. SAIC's decision stems from India's investment curbs, hindering expansion plans despite previous stake dilution.
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Hopeful JSW's Rs 65,000 cr steel plant will be completed by 2029, to boost industrialisation: Majhi
Odisha's Chief Minister Mohan Charan Majhi is optimistic that JSW's massive Rs 65,000 crore integrated steel plant near Paradip will be operational by 2029. This mega project marks a significant step in the state's industrialisation. The plant will have an initial capacity of 13.2 MTPA and is expected to create substantial employment and economic opportunities for the people of Odisha.
JSW Steel kicks off Rs 65,000 crore greenfield steel project in Odisha
JSW Steel has launched a massive Rs 65,000 crore steel project in Odisha. This 13.2 million tonne per annum integrated steel plant will be developed in phases at Paradeep. The project is strategically located on Odisha's coastline. It will offer strong port connectivity and efficient access to raw materials. This development aims to serve both domestic and international markets.
MG Majestor launched: Check price, booking amount, interior features, engine, offers and other key specs
JSW MG Motor India has launched its new 'Majestor' SUV, India's first D+ SUV, starting at Rs 40.99 Lakhs. The vehicle boasts a twin-turbo diesel engine, advanced 4WD with 10 off-road modes, and a premium interior with dual 12.3-inch displays. It also features Level 2 ADAS for enhanced safety.
Iran war impact won't last beyond 2 months; India growth story to continue with lot of capex: Sajjan Jindal
Speaking to reporters on the sidelines of IIM Nagpur's tenth convocation, where chairman of JSW Group Sajjan Jindal was the chief guest, he said industries focus on long-term plans.
IPL may become the GOAT of sports world; League sees sharp rise in valuations on record media rights deals, deep-pocketed sponsors
IPL franchise values are soaring, projected to hit $15 billion by 2032. This growth rivals top European football clubs. Record media rights, strong sponsorships, and investor interest are driving this surge. Teams are expanding globally. This makes IPL an attractive institutional asset for investors.
Suzlon bags 195 MW wind energy order from Sunsure Energy
Suzlon has secured a 195 MW wind energy order from Sunsure Energy, further strengthening their partnership, which now totals nearly 300 MW. The project, located in Karnataka’s Bijapur district, will feature Suzlon’s advanced 3 MW wind turbine platform, whose cumulative sales have approached 9 GW. Under the agreement, Suzlon will supply the turbines and oversee project execution, commissioning, and long-term maintenance, supporting India’s growing renewable energy sector.
Uber, JSW Group tie up to deploy EVs in India's ride-hailing market
Uber has allied with JSW Group to spearhead a new era of electric mobility in India, focusing on enhancing the ride-hailing experience through the integration of electric vehicles. This strategic partnership is being seen as pivotal in promoting the use of EVs across the nation.
JSW Steel posts 13-fold rise in profit for March quarter; to double capacity in 6 years
JSW Steel reported a nearly 13-fold surge in Q4 profit driven by an exceptional gain and record volumes. The company plans aggressive expansion, targeting 78 million tonne capacity by FY32, supported by JVs, higher capex and strong domestic steel demand growth outlook.
Tata Group, JSW to plow $1 billion in EV, battery tech
Indian giants Tata Group and JSW Group are investing close to $1 billion. They are building local capabilities in electric vehicle and battery technologies. This move aims to reduce dependence on Chinese tech. Tata's Agratas is spending over $400 million on battery research. JSW Motors plans to invest at least $500 million in a research hub.
BJP's rise to power in Bengal revives hopes for Rs 25,000-crore Tajpur port project
The BJP's victory in West Bengal has reignited interest in the Tajpur deep sea port project. Hopes are high for better Centre-state coordination to speed up the stalled venture. A recent global tender was cancelled due to low participation. The project's success now depends on the new government's policy and attracting investors.
ET Awards: Come to Andhra to witness first-hand how the reforms are working, Chandrababu Naidu says
Andhra Pradesh Chief Minister N Chandrababu Naidu urged the corporate sector to invest and provide feedback on state reforms, highlighting initiatives like escrow accounts and subsidized land for IT firms. These policies have attracted significant investments, including Google's $15 billion FDI, and are helping fund welfare programs.
ET Awards: India Inc discusses strategy as FM Sitharaman signals readiness for reforms amid rising global uncertainty
India's finance minister has urged industry leaders to engage in open dialogue. Discussions at the Economic Times Awards focused on navigating global uncertainties. Experts proposed measures from wooing the diaspora to harnessing artificial intelligence. The nation is seen as well-positioned to manage disruptions, with a focus on domestic demand and future preparedness.
JSW Motors plans to open own showrooms before India car debut
JSW Motors is preparing to launch company-owned showrooms across India ahead of its first vehicle debut later this year. The conglomerate aims to establish its new brand by opening at least four "experience centers" in key cities, offering customers a curated interaction with its upscale plug-in hybrid model.
ET Awards: ‘Invest in the idea of India, by India, for India,’ say top CEOs amid West Asia conflict
Indian business leaders view the West Asia conflict as a catalyst for long-delayed structural reforms, urging accelerated efforts in energy security and reduced external vulnerabilities. They advocate for greater self-reliance in energy sources and a significant push towards electric vehicles, while also emphasizing the need for workforce upskilling to navigate the disruptions brought by Artificial Intelligence.
ET Awards: Star power to light up the night; Finance Minister Sitharaman to honour Chandrababu Naidu, India Inc
Mumbai's Jio World Convention Centre hosts the 26th Economic Times Awards for Corporate Excellence, celebrating India's economic leaders. Finance Minister Nirmala Sitharaman, a champion of reform, will be the chief guest. Andhra Pradesh CM N Chandrababu Naidu, recognized as Business Reformer of the Year, will also attend.
JSW Group to monetise Akzo Nobel’s land assets
JSW Group is set to generate significant funds by selling unused land from its recent Akzo Nobel India acquisition. This move could recover up to half of the initial investment. The company plans to divest property, potentially in areas like Thane, to free up capital. These proceeds will support JSW's broader business operations.
JSW Group, NLC India among 25 companies in pre-bid meet for Rs 7,280-cr rare earth magnet scheme: Sources
The government will select maximum of five entities through the bidding process, with each entity setting up facilities of up to 1,200 MTPA, aggregating to a total of up to a maximum capacity of 6,000 MTPA.
Texmaco Rail gets ₹357 crore LOI from JSW Group for 20 freight wagon rakes
Texmaco Rail & Engineering has secured a significant order from JSW Group. The company will manufacture and supply 20 rakes of freight wagons. This deal is valued at approximately Rs 421.38 crore. The wagons are designed for high-capacity container transport. This order highlights the growing private sector involvement in India's rail logistics.
JSW Group & Korea’s POSCO Group sign MoU to develop integrated steel plant in India
JSW Group has signed a Memorandum of Understanding (MoU) with Korea's POSCO Group to establish an integrated steel plant in India with an initial capacity of 5 million tonnes per annum. The partnership aims to develop a framework for collaboration in steel, battery materials for electric vehicles, and renewable energy.
JSW Group elevates Kaustubh Kulkarni as group head of banking
Kaustubh Kulkarni has been appointed as the Head of Banking at JSW Group, in addition to his role as the Group Head of M&A and Strategic Financing. With over 27 years of experience in banking and finance, Kulkarni will oversee banking relationships across JSW Group's business verticals, supporting the conglomerate's expansion plans.
JSW Group to invest Rs 65,000 cr for new steel, cement plants in Odisha
JSW Group plans to establish an integrated steel plant, power plant, port facility, and cement plant in Jagatsinghpur, Odisha, with an investment of Rs 65,000 crore. The steel plant will produce 13.2 million tons of steel annually and generate 30,000 jobs. The port and jetty project will handle 52 million tons of cargo annually.
JSW Group shares fall up to 4% amid rape allegations against Chairman Sajjan Jindal
"Mr. Sajjan Jindal denies these false and baseless allegations. He is committed to providing full cooperation throughout the investigation," a representative for Jindal said in a statement, seen by Reuters. "As the investigation is ongoing, we will refrain from commenting further at this stage. We kindly request you to respect the privacy of the family," it added.
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