In a few ideas for profit from Moneycontrol Pro, Nandish Shah talks about a stock that he is tracking closely, Jindal Steel and Power.

JSPL has walked his talk of deleveraging through the entire steel upcycle and has announced its growth capex only after sustainable net debt to EBITDA came below 3x.

Angul pellet plant phase I of 6 million tonnes remains on track. It is expected completion during September-October 2022 and hot strip mill phase I is likely to be commissioned in February 2023.

JSPL has received all the clearances for Utkal-C coal block in Odessa and is likely to begin production in the next nine to 12 months.

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First Published:Mar 31, 2022 11:31 AM IST