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 (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)
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. 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.