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JSW Steel shares will be in focus on Thursday following the company's announcement that it has been declared the preferred bidder for Codli Mineral Block XII in Dharbandora, Goa. "The company is declared as 'Preferred Bidder' with highest final offer price at 92.60% of the value of mineral dispatched," the company said in an exchange filing.
The projected iron ore resources are 48.5 million tonnes in addition to 2.7 million tonnes of ore in dumps, JSW Steel said.
The company will take all requisite steps to obtain a Letter of Intent and statutory clearances to execute the lease deed with Mine Development and Production Agreement (MDPA) and start the mining operations. Also Read: Gautam Adani indicted in US over role in alleged bribery, fraud Stock Trading Mastering Options Selling: Advanced Strategies for Success By - CA Manish Singh, Chartered Accountant, Professional Equity and Derivative Trader View Program Stock Trading Options Trading Made Easy: Options Trading Course By - Anirudh Saraf, Founder- Saraf A & Associates, Chartered Accountant View Program Stock Trading Technical Trading Made Easy: Online Certification Course By - Souradeep Dey, Equity and Commodity Trader, Trainer View Program Stock Trading Stock Markets Made Easy By - elearnmarkets, Financial Education by StockEdge View Program Stock Trading Technical Analysis Demystified: A Complete Guide to Trading By - Kunal Patel, Options Trader, Instructor View Program Stock Trading Technical Analysis Made Easy: Online Certification Course By - Souradeep Dey, Equity and Commodity Trader, Trainer View Program Stock Trading RSI Trading Techniques: Mastering the RSI Indicator By - Dinesh Nagpal, Full Time Trader, Ichimoku & Trading Psychology Expert View Program Stock Trading Cryptocurrency Made Easy: Cryptocurrency Course By - elearnmarkets, Financial Education by StockEdge View Program Stock Trading Heikin Ashi Trading Tactics: Master the Art of Trading By - Dinesh Nagpal, Full Time Trader, Ichimoku & Trading Psychology Expert View Program Stock Trading Ichimoku Trading Unlocked: Expert Analysis and Strategy By - Dinesh Nagpal, Full Time Trader, Ichimoku & Trading Psychology Expert View Program Stock Trading Futures Trading Made Easy: Future & Options Trading Course By - Anirudh Saraf, Founder- Saraf A & Associates, Chartered Accountant View Program Stock Trading Market 103: Mastering Trends with RMI and Techno-Funda Insights By - Rohit Srivastava, Founder- Indiacharts.com View Program In a separate filing, JSW Steel said its Italian arm JSW Steel Italy SrL has signed a commercial agreement with Metinvest Adria S.
p.A "As per the agreement, Metinvest is obliged to pay a release fee of Euro 30 million to JSW Steel Italy Piombino SpA. as an all-inclusive consideration for the transaction," the filing said.
JSW Steel reported a net profit of Rs 404 crore for the September quarter, compared to the Rs 2,773 crore reported during the same quarter last year. The bottom line slid 85% on a year-on-year basis. The company reported a one-time loss of Rs 342 crore on surrendering one mining lease .
For the quarter, revenue stood at Rs 39,684 crore as against Rs 44,584 crore. JSW Steel's operating profit or EBITDA stood at Rs 5,437 crore. Margin came in at 13.
7%. EBITDA was better on inventory credit, which has aided gross margins. Also Read: Fewer stocks suffer deep cuts in the current selloff On Tuesday, JSW Steel's shares closed at Rs 947, down 0.
2% on the BSE, while the benchmark Sensex surged 0.31%. The company's shares have surged 8% in 2024 to date and 34% over the past two years, with the company currently holding a market capitalization of Rs 2,31,755 crore.
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