PRE-MARKET INDIAN STOCKS NEWS: JSW Steel (JSTL IS) has signed a joint venture agreement with South Korea’s POSCO (005490 KS) to set up a 6mtpa greenfield steel plant in Odisha
JSW Steel's joint venture with POSCO to establish a greenfield steel plant in Odisha signifies a strategic move to strengthen its production capacity in India's growing steel market.
Iran’s Foreign Ministry condemned the seizure of Iranian cargo ship Touska by US forces and called for the “immediate release of the Iranian vessel, its sailors, crew and their families”, according to CNN
[MARKET ANALYSIS] Asia-Pac stocks are mixed as participants look to potential US-Iran talks in Islamabad
PRE-MARKET INDIAN STOCKS NEWS: JSW Steel (JSTL IS) has signed a joint venture agreement with South Korea’s POSCO (005490 KS) to set up a 6mtpa greenfield steel plant in Odisha
Japan sells JPY 249.8bln in 20yr, 30yr and 40yr JGBs in enhanced liquidity auction; b/c 3.58 (Prev. 3.18)
US President Trump posts "Operation Midnight Hammer was a complete and total obliteration of the Nuclear Dust sites in Iran. Therefore, digging it out will be a long and difficult process.."
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JSW Steel (JSTL IS) - Co. has signed a joint venture agreement with South Korea’s POSCO to set up a 6mtpa greenfield steel plant in Odisha. (Moneycontrol)
PNB Housing Finance (PNBHOUSI IS) - Co. Q4 (INR) net rose 14.4% Y/Y to 6.49bln, revenue rose 8.2% Y/Y to 7.96bln, dividend INR 8/shr. (Moneycontrol)
SML Isuzu (SMLISU IS) - Co. Q4 (INR) net rose 2.4% Y/Y to 0.54bln. (Moneycontrol)
TVS Motor Company (TVSL IS) - Co. has entered into a joint development agreement with Hyundai Motor Company for the development, manufacturing, and commercialisation of electric micromobility three-wheelers. (Moneycontrol)
Vedanta (VEDL IS) - Co. said its demerger scheme will be effective May 1 and post-demerger will operate as Vedanta housing its base metals business, while Vedanta Aluminium, Talwandi Sabo Power, Vedanta Steel and Iron, and Malco Energy will function as separate entities. (Moneycontrol)
This partnership not only enhances production capabilities but also aligns with global trends in sustainable steel manufacturing, showcasing a commitment to green initiatives. Such developments could improve investor sentiment towards both companies, impacting stock performance positively in the near term.
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