JSW Steel Ltd (JSTL.NS)
26 May 2017
MUMBAI JSW Steel Ltd, India's biggest steelmaker by capacity, said its fourth-quarter profit more than tripled, helped by higher steel prices and output and government support for local mills.
* Exec says expect 5 percent demand growth for steel in 2017/18
* Says approved raising of long term funds in international market upto $1 billion
MUMBAI, May 17 India's JSW Steel Ltd fourth-quarter profit more than tripled, helped by higher steel prices and volumes and government support for local mills.
* JSW Steel Ltd consensus forecast for march -quarter consol profit was 7.76 billion rupees
* Says to consider raising of long-term funds through non-convertible bonds Source text - (http://bit.ly/2qUXSeY) Further company coverage:
* April crude steel production 1.3 million tonnes, up 7 percent Source text: http://bit.ly/2q15Cg6 Further company coverage:
* Says allotment of fixed rate senior unsecured notes of USD 500 million Source text for Eikon: Further company coverage:
NEW DELHI India's biggest steelmaker JSW Steel said it could spend up to $1 billion on capacity expansion or acquisitions this fiscal year, and will bid for iron ore and coking coal mines in upcoming auctions to secure raw material supplies.
* To bid for iron ore, coking coal mines in govt auctions (Adds details on iron ore, coal mines)