# Jindal Steel (JINDALSTEL) — Stock analysis

> Faxioms all-in-one stock review. Canonical page: https://faxioms.com/stocks/jindalstel

## Current market snapshot

- Exchange: NSE
- Country: India
- Price: ₹1,165
- Change: +1.31%
- As of: 2026-11-06
- 1D return: +1.31%
- 5D return: +9.78%
- 1M return: +15.35%
- Latest complete quarter: fy27_q2

## Faxioms Analysis

_As of 2026-11-06_

### Technical Outlook

JINDALSTEL closed at ₹1,165.0 on 2026-11-06, marking a +1.3% daily gain and positioning the stock near the upper end of its recent trading ranges (+97.1% in the 20-day range). The technical setup is predominantly bullish across daily and monthly horizons, with price trading above all key moving averages (EMA/SMA 20/50/200) and the Supertrend indicator. Daily trend strength is established (ADX 29.85), while the monthly trend shows strong conviction (ADX 48.09). A Bullish Engulfing Reversal pattern is active on the monthly chart, corroborating upward momentum. However, the weekly timeframe presents a conflicting signal: despite price being above moving averages, the Supertrend remains bearish and ADX is weak (16.75), suggesting shorter-term consolidation or lack of sustained directional force. Immediate resistance sits tightly at ₹1,165.13 (0.01% above), followed by ₹1,180.37 (+1.32%). Support is located at ₹1,158.35 (-0.57%) and ₹1,154.67 (-0.89%). Annualized volatility stands at +28.8%, with the stock currently -9.6% below its available high.

- Trend Alignment: Daily and monthly trends are bullish with price above all major moving averages and Supertrend; weekly trend shows mixed signals with a bearish Supertrend despite price position.
- Momentum & Strength: Monthly trend is strong (ADX 48.09) with an active Bullish Engulfing Reversal; daily trend is established (ADX 29.85); weekly trend is weak (ADX 16.75).
- Key Levels: Immediate resistance at ₹1,165.13 and ₹1,180.37; nearby support at ₹1,158.35 and ₹1,154.67.
- Risk Profile: Stock trades near 20-day highs (+97.1% position) but remains -9.6% from its peak; annualized volatility is +28.8%.

- Bullish Engulfing Reversal
- Doji
- Harami

### News Context

Jindal Steel is experiencing continued senior leadership turnover, marked by the resignation of Sukhjit S. Pasricha, President and Head of HR, effective October 31, 2026. Pasricha departed less than three months after joining the company in July 2026, citing personal commitments. This exit follows recent resignations of CEO Gautam Malhotra and CFO Mayank Gupta, indicating a pattern of high-level departures within a short timeframe. The company disclosed the departure via a regulatory filing under SEBI Listing Regulations but has not announced any interim or permanent replacement for the HR role, nor indicated broader restructuring plans. As of November 3, 2026, no successor has been identified, leaving the position vacant.

- Sukhjit S. Pasricha resigned as President and Head of HR effective October 31, 2026, less than three months after his July 2026 start date.
- The departure adds to recent exits of CEO Gautim Malhotra and CFO Mayank Gupta, signaling ongoing leadership churn at the steelmaker.
- No interim or permanent replacement has been announced for the HR leadership role as of early November 2026.

- [Jindal Steel’s leadership churn continues: President and Head of HR Sukhjit Pasricha quits after 3 months, cites personal commitments](https://www.businesstoday.in/jobs/story/jindal-steels-leadership-churn-continues-president-and-head-of-hr-sukhjit-pasricha-quits-after-3-months-cites-personal-commitments-565394-2026-11-03)
- [Sukhjit S Pasricha leaves Jindal Steel: Who is he? Head of Human Resources exits steelmaker – why did he resign? | Company Business News](https://www.livemint.com/companies/people/sukhjit-s-pasricha-leaves-jindal-steel-who-is-he-president-head-of-human-resources-leaves-steelmaker-why-did-h-11793616364525.html)

### Official Filings

Jindal Steel Limited reported consolidated net revenue of ₹16,703.54 crore and a net profit after tax of ₹774.43 crore for Q2FY27 (ended September 30, 2026), marking a 9% quarter-on-quarter increase in revenue. The company strengthened its balance sheet by reducing consolidated net debt to ₹14,786 crore from June-end levels, maintaining a Net Debt/EBITDA ratio of 1.51x alongside cash liquidity of ₹7,237 crore. Operational progress includes the commissioning of the Utkal B1 iron ore block (5.5 MTPA) and an 18 MTPA Barbil–Angul slurry pipeline, supporting steel production of 2.40 MT and sales of 2.38 MT. On the governance front, Sukhjit S. Pasricha resigned as Head – Human Resources effective October 31, 2026. The Board also approved an investment of ₹845 crore in Jindal Steel Odisha Limited via preference shares and granted 6,17,703 ESOPs.

- Q2FY27 Financial Performance: Consolidated net revenue rose 9% QoQ to ₹16,703.54 crore with PAT at ₹774.43 crore; adjusted EBITDA was ₹2,504 crore.
- Debt Reduction & Liquidity: Consolidated net debt decreased by ₹1,141 crore to ₹14,786 crore, with a Net Debt/EBITDA ratio of 1.51x and cash reserves of ₹7,237 crore.
- Operational Milestones: Commissioned Utkal B1 iron ore block (5.5 MTPA) and 18 MTPA slurry pipeline; produced 2.40 MT of steel against 2.38 MT sold.
- Governance & Capital Allocation: Head – HR Sukhjit S. Pasricha resigned effective Oct 31, 2026; Board approved ₹845 crore investment in JSO and granted 6,17,703 ESOPs.

- [JINDAL STEEL LIMITED has informed the Exchange about Schedule of meet |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/JINDALSTEL_05112026114517_stx_signed.pdf)
- [JINDAL STEEL LIMITED has informed the Exchange about change in Management |SUBJECT: Change in Management](https://nsearchives.nseindia.com/corporate/JINDALSTEL_01112026102137_stx_01112026_signed.pdf)
- [JINDAL STEEL LIMITED has informed the Exchange about Transcript |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/JINDALSTEL_30102026133511_stx_301026_signed.pdf)
- [JINDAL STEEL LIMITED has informed the Exchange about Copy of Newspaper Publication |SUBJECT: Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/JINDALSTEL_24102026161138_STX_241026.pdf)
- [JINDAL STEEL LIMITED has informed the Exchange about General Updates |SUBJECT: General Updates](https://nsearchives.nseindia.com/corporate/JINDALSTEL_23102026105145_stx_intimation_23102026.pdf)
- [JINDAL STEEL LIMITED has submitted to the Exchange, the financial results for the period ended September 30, 2026. |SUBJECT: Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/JINDALSTEL_23102026151136_STX23102026.pdf)
- [JINDAL STEEL LIMITED has informed the Exchange about Investor Presentation |SUBJECT: Investor Presentation](https://nsearchives.nseindia.com/corporate/JINDALSTEL_23102026153233_stx__1_.pdf)
- [Integrated Filing- Financials|Original|](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1744755_23102026051910_WEB.xml)
- [Integrated Filing- Financials|Original|](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1744753_23102026051859_WEB.xml)
- [JINDAL STEEL LIMITED has informed the Exchange about Link of Recording |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/JINDALSTEL_23102026210225_stx_231026.pdf)

### Fundamentals

Jindal Steel’s Q2 FY2026-27 results reveal a divergence between top-line momentum and bottom-line profitability. Revenue from operations rose sequentially to ₹16,679 crore, up 43% year-on-year, signaling strong demand absorption. However, expenses increased faster than sales, rising to ₹15,619 crore from ₹14,296 crore in Q1. This cost pressure compressed Profit Before Tax (PBT) to ₹1,084 crore from ₹1,205 crore, leading to a sequential decline in Net Profit to ₹771 crore and EPS to ₹7.61.

Financial health remains robust despite higher leverage. Borrowings stood at ₹22,354 crore as of Sep 2026, while Fixed Assets grew to ₹64,329 crore, reflecting ongoing capacity expansion. The Cash Conversion Cycle improved dramatically to just 1 day by Mar 2026, driven by extended Days Payable (126 days), which offsets inventory holding periods. Interest costs are significant, totaling ₹1,517 crore for FY2026, but CFO/EBITDA conversion remained healthy at 88%. Promoter holding increased slightly to 62.71%, indicating continued insider confidence.

- Revenue surged 43% YoY to ₹16,679 crore in Q2 FY2026-27, but sequential expense growth outpaced revenue, compressing PBT and Net Profit.
- Net profit declined sequentially to ₹771 crore (EPS ₹7.61) from ₹844 crore in Q1, highlighting margin sensitivity to input costs.
- Balance sheet shows asset growth with Fixed Assets at ₹64,329 crore and borrowings at ₹22,354 crore; working capital efficiency is exceptional with a 1-day Cash Conversion Cycle.
- Next checkpoint: Monitor whether Q3 expense trends stabilize relative to sales volumes to determine if the margin compression is temporary or structural.

### Bear Case

Jindal Steel faces heightened operational and governance risks following a rapid succession of senior leadership exits. President and Head of HR Sukhjit Pasricha resigned on October 31, less than three months after joining in July 2026, adding to the recent departures of CEO Gautam Malhotra and CFO Mayank Gupta. The company has not announced replacements for these critical roles, raising concerns about continuity in strategic execution and financial oversight. Concurrently, the stock exhibits significant volatility and downside pressure; it is currently trading at ₹1,165.0 with a maximum drawdown of -21.6% and an annualized volatility of +28.8%. Technical indicators show divergence, with daily trends remaining bullish while weekly signals turn bearish, suggesting near-term uncertainty despite longer-term momentum.

- Senior leadership churn: Three key executives (CEO, CFO, and Head of HR) have departed recently, with no replacements announced for the current vacancies.
- High volatility and drawdown: The stock shows an annualized volatility of +28.8% and a maximum drawdown of -21.6%, indicating elevated risk levels.
- Mixed technical signals: Daily trend remains bullish (ADX 29.85), but weekly Supertrend direction is bearish, reflecting conflicting short-to-medium term momentum.

- [Jindal Steel’s leadership churn continues: President and Head of HR Sukhjit Pasricha quits after 3 months, cites personal commitments](https://www.businesstoday.in/jobs/story/jindal-steels-leadership-churn-continues-president-and-head-of-hr-sukhjit-pasricha-quits-after-3-months-cites-personal-commitments-565394-2026-11-03)
- [Sukhjit S Pasricha leaves Jindal Steel: Who is he? Head of Human Resources exits steelmaker – why did he resign? | Company Business News](https://www.livemint.com/companies/people/sukhjit-s-pasricha-leaves-jindal-steel-who-is-he-president-head-of-human-resources-leaves-steelmaker-why-did-h-11793616364525.html)
- [JINDAL STEEL LIMITED has informed the Exchange about Schedule of meet |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/JINDALSTEL_05112026114517_stx_signed.pdf)
- [JINDAL STEEL LIMITED has informed the Exchange about change in Management |SUBJECT: Change in Management](https://nsearchives.nseindia.com/corporate/JINDALSTEL_01112026102137_stx_01112026_signed.pdf)
- [JINDAL STEEL LIMITED has informed the Exchange about Transcript |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/JINDALSTEL_30102026133511_stx_301026_signed.pdf)
- [JINDAL STEEL LIMITED has informed the Exchange about Copy of Newspaper Publication |SUBJECT: Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/JINDALSTEL_24102026161138_STX_241026.pdf)
- [JINDAL STEEL LIMITED has informed the Exchange about General Updates |SUBJECT: General Updates](https://nsearchives.nseindia.com/corporate/JINDALSTEL_23102026105145_stx_intimation_23102026.pdf)
- [JINDAL STEEL LIMITED has submitted to the Exchange, the financial results for the period ended September 30, 2026. |SUBJECT: Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/JINDALSTEL_23102026151136_STX23102026.pdf)
- [JINDAL STEEL LIMITED has informed the Exchange about Investor Presentation |SUBJECT: Investor Presentation](https://nsearchives.nseindia.com/corporate/JINDALSTEL_23102026153233_stx__1_.pdf)
- [Integrated Filing- Financials|Original|](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1744755_23102026051910_WEB.xml)

### FAQs

**What recent leadership changes have occurred at Jindal Steel, and are replacements announced?**

Sukhjit S. Pasricha resigned as President and Head of HR effective October 31, 2026, less than three months after joining in July 2026. This follows earlier exits by CEO Gautam Malhotra and CFO Mayank Gupta. The company has not announced interim or permanent replacements for the HR role.

**What were Jindal Steel's key financial metrics for Q2FY27?**

For the quarter ended September 2026, management reported consolidated net revenue of ₹16,704 crores and adjusted EBITDA of ₹2,504 crores. Consolidated net debt stood at ₹14,786 crores at September-end, a decrease of ₹1,141 crores from June-end.

**How is the stock performing technically as of November 6, 2026?**

The stock closed at ₹1,165.00 with a market capitalization of approximately ₹11,730 crores. It shows a bullish daily trend but a bearish weekly trend. Key resistance levels are near ₹1,165.13 and ₹1,180.37, while support exists at ₹1,158.35 and ₹1,154.67.

**What upcoming events might provide further insight into the company's direction?**

Jindal Steel will participate in two investor conferences in Mumbai: the CITIC CLSA India Forum on November 17, 2026, and the Avendus Spark INDX India Flagship Annual Investor Conference on November 18, 2026. These meetings include one-on-one and group sessions with analysts and institutions.

- [Jindal Steel’s leadership churn continues: President and Head of HR Sukhjit Pasricha quits after 3 months, cites personal commitments](https://www.businesstoday.in/jobs/story/jindal-steels-leadership-churn-continues-president-and-head-of-hr-sukhjit-pasricha-quits-after-3-months-cites-personal-commitments-565394-2026-11-03)
- [Sukhjit S Pasricha leaves Jindal Steel: Who is he? Head of Human Resources exits steelmaker – why did he resign? | Company Business News](https://www.livemint.com/companies/people/sukhjit-s-pasricha-leaves-jindal-steel-who-is-he-president-head-of-human-resources-leaves-steelmaker-why-did-h-11793616364525.html)
- [JINDAL STEEL LIMITED has informed the Exchange about Schedule of meet |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/JINDALSTEL_05112026114517_stx_signed.pdf)
- [JINDAL STEEL LIMITED has informed the Exchange about change in Management |SUBJECT: Change in Management](https://nsearchives.nseindia.com/corporate/JINDALSTEL_01112026102137_stx_01112026_signed.pdf)
- [JINDAL STEEL LIMITED has informed the Exchange about Transcript |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/JINDALSTEL_30102026133511_stx_301026_signed.pdf)
- [JINDAL STEEL LIMITED has informed the Exchange about Copy of Newspaper Publication |SUBJECT: Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/JINDALSTEL_24102026161138_STX_241026.pdf)
- [JINDAL STEEL LIMITED has informed the Exchange about General Updates |SUBJECT: General Updates](https://nsearchives.nseindia.com/corporate/JINDALSTEL_23102026105145_stx_intimation_23102026.pdf)
- [JINDAL STEEL LIMITED has submitted to the Exchange, the financial results for the period ended September 30, 2026. |SUBJECT: Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/JINDALSTEL_23102026151136_STX23102026.pdf)
- [JINDAL STEEL LIMITED has informed the Exchange about Investor Presentation |SUBJECT: Investor Presentation](https://nsearchives.nseindia.com/corporate/JINDALSTEL_23102026153233_stx__1_.pdf)
- [Integrated Filing- Financials|Original|](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1744755_23102026051910_WEB.xml)
## Technical analytics

- As of: 2026-11-06
- Daily trend: Weak Uptrend
- Weekly trend: Weak Uptrend
- Pivot point: ₹1,154.67
- Risk regime: Price Risk Currently Contained

### Support levels
- 1158.35
- 1129.1
- 999.95

### Resistance levels
- 1192.2765625000002
- 1232.1
- 1256.95

### Return and range metrics

| Metric | Value |
| --- | --- |
| return_1 | +1.31% |
| return_10 | +14.68% |
| return_1m | +7.28% |
| return_1y | +11.43% |
| return_20 | +15.35% |
| return_3m | +5.81% |
| return_5 | +9.78% |
| return_6m | -7.85% |
| return_since_start | +24.19% |
| return_ytd | +9.04% |

### Risk and volatility metrics

| Metric | Value |
| --- | --- |
| state | contained_risk |
| label | Price risk currently contained |
| summary | Recent drawdown and price variability remain within the producer's contained-risk thresholds. |
| maximum_drawdown | -21.63% |
| annualized_volatility | +28.82% |

## Quarterly financials

- Latest complete quarter: fy27_q2

# JINDAL STEEL LIMITED Q2 FY2026-27: Revenue rises 43% year on year

Revenue from operations rose 42.7% year on year and 7.7% quarter on quarter to ₹16,679 crore in Q2 FY2026-27. But expenses increased faster than revenue sequentially, and profit before tax fell 10.0% from Q1 to ₹1,084 crore, although it remained 10.4% above the year-earlier quarter.

## Revenue growth and costs

Revenue from operations increased from ₹15,482 crore in Q1 FY2026-27 to ₹16,679 crore in Q2. Total income was ₹16,704 crore, including ₹25 crore of other income.

Expenses rose 9.3% quarter on quarter to ₹15,619 crore from ₹14,296 crore. Cost of materials consumed was ₹7,264 crore, while depreciation, depletion and amortisation expense was ₹947 crore. The faster increase in expenses coincided with profit before tax declining to ₹1,084 crore from ₹1,205 crore in Q1. It was above the ₹982 crore reported in Q2 FY2025-26.

## Finance costs, tax and earnings

Finance costs rose 3.3% sequentially to ₹566 crore from ₹548 crore in Q1 FY2026-27. They have increased in each of the past three quarters, from ₹406 crore in Q3 FY2025-26 to ₹442 crore in Q4 and ₹548 crore in Q1. Finance costs were also higher than the ₹371 crore reported in Q2 FY2025-26.

Tax expense declined 13.3% quarter on quarter to ₹313 crore from ₹361 crore. Profit from continuing operations was ₹771 crore, down 8.6% from Q1 but up 21.5% from ₹635 crore in Q2 FY2025-26. Earnings per share was ₹7.61, compared with ₹8.30 in Q1 and ₹6.28 a year earlier.

## Asset base and liquidity

Property, plant and equipment stood at ₹61,594 crore on 30 September 2026, down from ₹62,533 crore on 31 March 2026 and up from ₹54,644 crore on 30 September 2025. Capital work in progress was ₹9,460 crore, compared with ₹7,265 crore at 31 March 2026.

At quarter-end, cash and cash equivalents were ₹1,833 crore and current investments were ₹4,157 crore, up from ₹2,107 crore at 31 March 2026. Bank balances other than cash and cash equivalents fell to ₹1,247 crore from ₹2,252 crore. Inventories were ₹8,391 crore, while current trade receivables were ₹1,191 crore, down from ₹1,729 crore at 31 March. Total assets were ₹99,811 crore and other equity was ₹52,265 crore on 30 September 2026.

## Key Takeaway

Revenue and profit from continuing operations grew strongly year on year, but the sequential results were weaker: expenses outpaced revenue growth and pre-tax profit declined. Higher finance costs and a larger capital-work-in-progress balance are relevant alongside the quarter-end liquidity position; EPS remained above its year-earlier level.

### Ratios

## Shareholding pattern

- Quarter: FY2027-Q1
- As of: 2026-06-30
- Promoter holding: +62.69%
- FII holding: +8.84%
- DII holding: +19.52%
- Mutual fund holding: +15.17%
- Retail holding: +5.35%
- Promoter pledged: +0.00%

### Major reported shareholders

- OPJ TRADING PRIVATE LIMITED — +18.47% (Bodies Corporate)
- OPELINA SUSTAINABLE SERVICES PRIVATE LIMITED — +14.42% (Bodies Corporate)
- SIDDESHWARI TRADEX PRIVATE LIMITED — +7.69% (Bodies Corporate)
- VIRTUOUS TRADECORP PRIVATE LIMITED — +6.31% (Bodies Corporate)
- SKYHIGH SUSTAINABLE LIMITED — +4.87% (Bodies Corporate)
- KOTAK FLEXICAP FUND — +3.54%
- HDFC MUTUAL FUND - HDFC MID-CAP FUND — +2.24%
- ICICI PRUDENTIAL LARGE & MID CAP FUND — +1.93%
- SBI LARGE & MIDCAP FUND — +1.60%
- NPS TRUST- A/C SBI PENSION FUND SCHEME - STATE GOVT — +1.39%

## Official filings

- 2026-11-05 — Generic Announcement: JINDAL STEEL LIMITED — [Official attachment](https://nsearchives.nseindia.com/corporate/JINDALSTEL_05112026114517_stx_signed.pdf)
- 2026-11-01 — Generic Announcement: JINDAL STEEL LIMITED — [Official attachment](https://nsearchives.nseindia.com/corporate/JINDALSTEL_01112026102137_stx_01112026_signed.pdf)
- 2026-10-30 — Generic Announcement: JINDAL STEEL LIMITED — [Official attachment](https://nsearchives.nseindia.com/corporate/JINDALSTEL_30102026133511_stx_301026_signed.pdf)
- 2026-10-24 — Generic Announcement: JINDAL STEEL LIMITED — [Official attachment](https://nsearchives.nseindia.com/corporate/JINDALSTEL_24102026161138_STX_241026.pdf)
- 2026-10-23 — Generic Announcement: JINDAL STEEL LIMITED — [Official attachment](https://nsearchives.nseindia.com/corporate/JINDALSTEL_23102026105145_stx_intimation_23102026.pdf)
- 2026-10-23 — Generic Announcement: JINDAL STEEL LIMITED — [Official attachment](https://nsearchives.nseindia.com/corporate/JINDALSTEL_23102026151136_STX23102026.pdf)
- 2026-10-23 — Earnings Presentation: JINDAL STEEL LIMITED — [Official attachment](https://nsearchives.nseindia.com/corporate/JINDALSTEL_23102026153233_stx__1_.pdf)
- 2026-10-23 — Financial Results Filing: JINDAL STEEL LIMITED — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1744755_23102026051910_WEB.xml)
- 2026-10-23 — Financial Results Filing: JINDAL STEEL LIMITED — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1744753_23102026051859_WEB.xml)
- 2026-10-23 — Generic Announcement: JINDAL STEEL LIMITED — [Official attachment](https://nsearchives.nseindia.com/corporate/JINDALSTEL_23102026210225_stx_231026.pdf)
- 2026-10-21 — Shareholding Disclosure: JINDAL STEEL LIMITED — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SHP_1742806_21102026030632_WEB.xml)
- 2026-10-19 — Generic Announcement: JINDAL STEEL LIMITED — [Official attachment](https://nsearchives.nseindia.com/corporate/JINDALSTEL_19102026132744_Binder1.pdf)
- 2026-10-15 — Generic Announcement: JINDAL STEEL LIMITED — [Official attachment](https://nsearchives.nseindia.com/corporate/JINDALSTEL_15102026183240_Stock_Exchange_Information_-_COD_Ph_1_-_12th_October_2026_-_Revised.pdf)
- 2026-10-07 — Generic Announcement: JINDAL STEEL LIMITED — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_1816_WebXMLFile_20261007_122336247.xml)
- 2026-10-07 — Board Meeting Notice: JINDAL STEEL LIMITED — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_1816_WebXMLFile_20261007_122336247.xml)
- 2026-10-06 — Generic Announcement: JINDAL STEEL LIMITED — [Official attachment](https://nsearchives.nseindia.com/corporate/JINDALSTEL_06102026153956_STX_061026.pdf)
- 2026-10-06 — Board Meeting Notice: JINDAL STEEL LIMITED — [Official attachment](https://nsearchives.nseindia.com/corporate/JINDALSTEL_06102026221112_stx_06102026_BM.pdf)
- 2026-10-05 — Generic Announcement: JINDAL STEEL LIMITED — [Official attachment](https://nsearchives.nseindia.com/corporate/JINDALSTEL_05102026162226_stx_signed.pdf)
- 2026-09-29 — Generic Announcement: JINDAL STEEL LIMITED — [Official attachment](https://nsearchives.nseindia.com/corporate/JINDALSTEL_29092026113141_stx_290926.pdf)
- 2026-09-15 — Generic Announcement: JINDAL STEEL LIMITED — [Official attachment](https://nsearchives.nseindia.com/corporate/JINDALSTEL_15092026132412_stx.pdf)
- 2026-08-28 — Generic Announcement: JINDAL STEEL LIMITED — [Official attachment](https://nsearchives.nseindia.com/corporate/JINDALSTEL_28082026182944_stx_28082026.pdf)
- 2026-08-28 — Regulatory Filing: JINDAL STEEL LIMITED — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/RESULT_VOTING_1718913_28082026063030_WEB.xml)
- 2026-08-28 — Official Filing: JINDAL STEEL LIMITED — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/IT_1816_WebXMLFile_20260828_184330269.xml)
- 2026-08-26 — Generic Announcement: JINDAL STEEL LIMITED — [Official attachment](https://nsearchives.nseindia.com/corporate/JINDALSTEL_26082026132801_STX_260826.pdf)
- 2026-08-13 — Generic Announcement: JINDAL STEEL LIMITED — [Official attachment](https://nsearchives.nseindia.com/corporate/JINDALSTEL_13082026223812_stx_13_08_26.pdf)

## News and market events

- 2026-11-03 — BUSINESSTODAY: **Jindal Steel’s leadership churn continues: President and Head of HR Sukhjit Pasricha quits after 3 months, cites personal commitments** — Jindal Steel President and Head of HR Sukhjit S. Pasricha resigned on October 31, less than three months after joining the company in July, citing personal commitments. His departure adds to a series of recent senior leadership exits at the steelmaker, including the resignations of CEO Gautam Malhotra and CFO Mayank Gupta. Jindal Steel has not announced a replacement for Pasricha or indicated any restructuring of its HR leadership team. — [Source](https://www.businesstoday.in/jobs/story/jindal-steels-leadership-churn-continues-president-and-head-of-hr-sukhjit-pasricha-quits-after-3-months-cites-personal-commitments-565394-2026-11-03)
- 2026-11-02 — Mint: **Sukhjit S Pasricha leaves Jindal Steel: Who is he? Head of Human Resources exits steelmaker – why did he resign? | Company Business News** — Jindal Steel announced that Sukhjit S. Pasricha, its President and Head of Human Resources, has resigned effective October 31, citing personal commitments less than three months after joining in July 2026. The company disclosed the departure via a regulatory filing under SEBI Listing Regulations but did not announce an interim or permanent replacement for the role. — [Source](https://www.livemint.com/companies/people/sukhjit-s-pasricha-leaves-jindal-steel-who-is-he-president-head-of-human-resources-leaves-steelmaker-why-did-h-11793616364525.html)
- 2026-10-30 — Mint: **Diwali 2026 Top Stocks To Buy: Apollo Hospitals, GE Vernova, TARIL, TD Power, Jindal Steel, others; top 10 picks, target** — PL Capital released its top 10 stock bets for the Diwali 2026 festive season, recommending Apollo Hospitals, DLF, GE Vernova, HBL Engineering, Jindal Steel, Marine Electricals, Shilpa Medicare, Syrma SGS Technology, TARIL, and TD Power Systems. The brokerage provided specific target prices and stop-loss levels for each selected equity based on technical analysis. — [Source](https://www.livemint.com/market/stock-market-news/pl-capital-diwali-picks-apollo-hospitals-ge-vernova-taril-td-power-systems-to-jindal-steel-among-top-10-bets-for-fe-11793347304385.html)
- 2026-10-29 — Mint: **Top stocks to buy for long term: Pankaj Pandey of ICICI Securities suggests Crompton Greaves, Kotak Bank, 3 others** — Markets have fallen sharply, but ICICI Securities’ Pankaj Pandey sees earnings resilience—not a broken growth story—behind the volatility. He expects double-digit returns over the next year and names five stocks, including Crompton Greaves and Kotak Mahindra Bank.  — [Source](https://www.livemint.com/market/stock-market-news/top-stocks-to-buy-for-long-term-pankaj-pandey-of-icici-securities-suggests-crompton-greaves-kotak-bank-3-others-11793258859687.html)
- 2026-10-28 — BUSINESSTODAY: **Diwali Stock Picks 2026: Syrma SGS, Jindal Steel, TARIL, GE Vernova and more** — Brokerage PL Capital also known as Prabhudas Lilladher has come out with its Diwali Stock Picks for 2026. — [Source](https://www.businesstoday.in/markets/stocks/story/diwali-stock-picks-2026-syrma-sgs-jindal-steel-taril-ge-vernova-and-more-564203-2026-10-28)
- 2026-10-27 — Mint: **Best steel stocks to buy: JSW Steel, SAIL - Why Aditya Birla Capital is betting on capacity growth and margin recovery** — Aditya Birla Capital sees a durable upcycle for Indian steel, driven by tightening supply, resilient demand and trade protection. It rates JSW Steel and SAIL Buy, and assigns Add to Tata Steel and Jindal Steel. It also initiates Positive coverage of ArcelorMittal. — [Source](https://www.livemint.com/market/stock-market-news/best-steel-stocks-to-buy-jsw-steel-sail-why-aditya-birla-capital-is-betting-on-capacity-growth-and-margin-recovery-11793090058300.html)
- 2026-10-26 — BUSINESSTODAY: **Kotak Mahindra Bank, JSW Steel, Jindal Steel, Shree Cement, Nuvoco, AU SFB: Brokerage outlook, share price targets** — HDFC Securities has maintained its 'BUY' rating on Kotak Mahindra Bank, JSW Steel, Jindal Steel and Nuvoco Vistas Corporation, while upgrading Shree Cement to 'BUY' from 'ADD'. — [Source](https://www.businesstoday.in/markets/stocks/story/kotak-mahindra-bank-jsw-steel-jindal-steel-shree-cement-nuvoco-au-bank-brokerage-outlook-share-price-targets-563742-2026-10-26)
- 2026-10-26 — MONEYCONTROL: **Buy Jindal Steel; target of Rs 1245: Prabhudas Lilladher** — Buy Jindal Steel; target of Rs 1245: Prabhudas Lilladher Follow Us On: Stocks: A B C D E F G H I J K L M N O P Q R S T U V W X Y Z Others Trending Topics more Sensex Today Jio IPO Allotment Jamia Protest UP Polls 2027 Rahul Gandhi Infosys Share Price Aamir Khan Small Cap Stocks Cyclone Arnab Dhanush News more Business Markets Stocks India News City News Economy Mutual Funds Personal Finance IPO News Startups Markets more Home Currencies Commodities Pre-Market IPO Global Market US Markets Bonds Silver MCX Price Gold MCX Price Personal Finance more Home Loans up to 50 Lakhs Credit Cards Lifetime — [Source](https://www.moneycontrol.com/news/business/earnings/buy-jindal-steel-target-of-rs-1245-prabhudas-lilladher-14060030.html)
- 2026-10-23 — Mint: **JSW Steel profit more than triples on strong demand, beats Street estimates | Company Business News** — Higher realisations and strong domestic demand drove a surge in September-quarter earnings, as the steelmaker cleared ₹16,150 crore in fresh capex to support its long-term growth targets. — [Source](https://www.livemint.com/companies/company-results/jsw-steel-profit-more-than-triples-on-strong-demand-beats-street-estimates-11792764827881.html)
- 2026-10-23 — BUSINESSTODAY: **2. JSW Steel, Jindal Steel Q2 results: Revenue, profit rise; margins tell different stories** — JSW Steel and Jindal Steel reported strong year-on-year (YoY) growth in revenue and net profit for the September quarter of FY27, supported by improved operating performance. — [Source](https://www.businesstoday.in/markets/stocks/story/2-jsw-steel-jindal-steel-q2-results-revenue-profit-rise-margins-tell-different-stories-563334-2026-10-23)
- 2026-10-23 — MONEYCONTROL: **Jindal Steel Q2: Consolidated net profit rises 21% to Rs 771 crore as sales volumes climb** — Jindal Steel Q2: Consolidated net profit rises 21% to Rs 771 crore as sales volumes climb Follow Us On: Stocks: A B C D E F G H I J K L M N O P Q R S T U V W X Y Z Others Trending Topics more Sensex Today Jio IPO Tonbo Imaging share price UP Elections iPhone Duo Elon Musk Annamalai Piyush Goyal Donald Trump Sonam Wangchuk News more Business Markets Stocks India News City News Economy Mutual Funds Personal Finance IPO News Startups Markets more Home Currencies Commodities Pre-Market IPO Global Market US Markets Bonds Silver MCX Price Gold MCX Price Personal Finance more Home Loans up to 50 Lakh — [Source](https://www.moneycontrol.com/news/business/earnings/jindal-steel-q2-consolidated-net-profit-rises-21-to-rs-771-crore-as-sales-volumes-climb-14058618.html)
- 2026-10-23 — BUSINESSTODAY: **Adani Power, Tata Motors, IndusInd Bank, JSW Steel, Jindal Steel shares fall up to 5% ahead of Q2 results | Preview** — A host of results-bound stocks such as Adani Power Ltd, Tata Motors Ltd, IndusInd Bank, Jindal Steel and JSW Steel tanked up to 5 per cent in Friday's trade ahead of their June quarter results. — [Source](https://www.businesstoday.in/markets/stocks/story/adani-power-tata-motors-indusind-bank-jsw-steel-jindal-steel-shares-fall-up-to-5-ahead-of-q2-results-preview-563225-2026-10-23)
- 2026-10-22 — NEWS.WEBINDIA123.COM: **Jindal Steel aims to more than double coal gasification capacity to 11 million tonnes by 2030** — Jindal Steel aims to more than double its coal gasification capacity from the current 4.5 million tonnes to around 11 million tonnes or more by the end of 2030, as the company looks to expand gasification-based production and strengthen industrial value addition, a senior company official said. — [Source](https://news.webindia123.com/news/Articles/Business/20261022/4513919.html)
- 2026-10-15 — NEWS.WEBINDIA123.COM: **Jindal Steel wins Worldsteel 2026 Steelie Award for Excellence in People** — Jindal Steel Limited — [Source](https://news.webindia123.com/news/Articles/Business/20261015/4511126.html)
- 2026-09-30 — Economic Times: **Naveen Jindal weighs bid for EU firm Celsa** — Naveen Jindal, chairman of Jindal Steel, is considering a 5-billion bid for European steelmaker Celsa to enhance his operations. The discussions are at a preliminary stage and could attract competition from other bidders. Celsa, headquartered in Barcelona, has a manufacturing capacity of 7.5 million tonnes and is focused on long steel products. The creditors controlling Celsa have invested significantly to stabilize the company's finances after a lengthy restructuring. — [Source](https://economictimes.indiatimes.com/industry/indl-goods/svs/steel/naveen-jindal-weighs-bid-for-eu-firm-celsa/articleshow/134601730.cms)
- 2026-09-28 — MONEYCONTROL: **Tata Steel, JSW Steel, Jindal Steel in focus as rebar prices rally; Nomura retains 'Buy'** — Tata Steel, JSW Steel, Jindal Steel Tata Steel, JSW Steel, Jindal Steel, Nomura, steel stocks — [Source](https://www.moneycontrol.com/news/business/stocks/tata-steel-jsw-steel-jindal-steel-in-focus-as-rebar-prices-rally-nomura-retains-buy-14039730.html)
- 2026-09-24 — BUSINESS: **Nifty below 23,250; metal shares lose sheen** — At 11:30 IST, the barometer index, the S&P BSE Sensex, tanked 687.83 points or 0.92% to 74,155.56. The Nifty 50 index lost 231.90 points or 0.99% to 23,215.20. — [Source](https://www.business-standard.com/markets/capital-market-news/nifty-below-23-250-metal-shares-lose-sheen-126092400395_1.html)
- 2026-09-23 — BUSINESS: **Jindal Steel Ltd up for third straight session** — Jindal Steel Ltd is quoting at Rs 1177.3, up 3.18% on the day as on 12:49 IST on the NSE. The stock is up 11.84% in last one year as compared to a 6.43% drop in NIFTY and a 31.34% drop in the Nifty Metal index. — [Source](https://www.business-standard.com/markets/capital-market-news/jindal-steel-ltd-up-for-third-straight-session-126092300621_1.html)
- 2026-09-23 — BUSINESS: **Sensex gains 241 pts; metal shares in demand** — At 10:30 IST, the barometer index, the S&P BSE Sensex, jumped 240.85 points or 0.32% to 74,769.93. The Nifty 50 index rose 71.15 points or 0.31% to 23,402.85. — [Source](https://www.business-standard.com/markets/capital-market-news/sensex-gains-241-pts-metal-shares-in-demand-126092300312_1.html)
- 2026-09-21 — Economic Times: **India can do without US steel exports, says Naveen Jindal; flags domestic demand as key growth driver** — Naveen Jindal, chairman of Jindal Steel, said India can sustain its steel industry without depending on exports to the US, as domestic demand offers significant growth opportunities. He said higher US tariffs would have a limited impact on Indian producers. Jindal also discussed EU carbon rules, coal gasification and green steel. — [Source](https://economictimes.indiatimes.com/industry/indl-goods/svs/steel/india-can-do-without-us-steel-exports-says-naveen-jindal-flags-domestic-demand-as-key-growth-driver/articleshow/134389941.cms)
- 2026-09-21 — MONEYCONTROL: **Tata Steel, JSW Steel, Jindal Steel remain 'Buy': Nomura as steel prices hit new highs** — Tata Steel, JSW Steel, Jindal Steel, Nomura, stocks, stock news, Nomura — [Source](https://www.moneycontrol.com/news/business/stocks/tata-steel-jsw-steel-jindal-steel-remain-buy-nomura-as-steel-prices-hit-new-highs-14034359.html)
- 2026-09-18 — Economic Times: **Motilal Oswal sees surging steel prices to offset cost inflation for metal majors. Here are its top stock picks** — Motilal Oswal expects firm steel prices, lean inventories and resilient demand to support a shift toward pricing- and cost-led earnings growth for domestic steelmakers. The brokerage sees stronger realisations ahead and favours companies with cost advantages and raw-material access, naming JSW Steel and Tata Steel as its top picks. — [Source](https://economictimes.indiatimes.com/markets/stocks/news/motilal-oswal-sees-surging-steel-prices-to-offset-cost-inflation-for-metal-majors-here-are-its-top-stock-picks/articleshow/134327119.cms)
- 2026-09-18 — Mint: **Metal stocks to buy: Tata Steel, JSW Steel among Motilal Oswal’s top picks, up to 17% upside | Check target price** — Tata Steel and JSW Steel emerged as top metal stock picks by Motilal Oswal. Jindal Steel and SAIL also receive 'Buy' ratings, with target prices indicating significant upside potential. — [Source](https://www.livemint.com/market/stock-market-news/metal-stocks-to-buy-tata-steel-jsw-steel-among-motilal-oswal-s-top-picks-up-to-17-upside-check-target-price-11789707590645.html)
- 2026-09-16 — MONEYCONTROL: **Nomura retains ‘Buy’ on Tata Steel, JSW Steel, Jindal Steel as steel prices hit four-year high** — Nomura, Tata Steel, Jindal Steel, JSW Steel, Steel, US-Iran war, Donald Trump, Steel prices, Jindal steel stock price today, Tata steel share price — [Source](https://www.moneycontrol.com/news/business/stocks/nomura-retains-buy-on-tata-steel-jsw-steel-jindal-steel-as-steel-prices-hit-four-year-high-14030936.html)
- 2026-09-14 — Economic Times: **From Uzbekistan to Canada: A look at India’s global uranium hunt** — India is accelerating its nuclear power expansion to reach 100 GW by 2047. This ambitious goal necessitates securing substantial uranium supplies from global sources. New agreements with Uzbekistan, Australia, and Canada are diversifying fuel procurement strategies. Domestic policy changes now permit private companies to enter nuclear power generation. This dual approach aims to ensure fuel availability for future reactor capacity. — [Source](https://economictimes.indiatimes.com/industry/renewables/from-uzbekistan-to-canada-a-look-at-indias-global-uranium-hunt/articleshow/134235729.cms)

## Business profile

**Strategic vision:** Integrated steel producer with a mine-to-metal model.

### Business segments
- **Integrated Steel Manufacturing:** The company's operations span the entire value chain from mining raw materials and captive power generation to manufacturing high-grade steel.

### Competitive strengths
- Integrated operations from mining to metal production.
- Captive mining and power generation capacities.
- Proprietary technology for iron and steel making.
- Exclusive private player in rail manufacturing.
- Producer of the widest plates in coil form.
- Only private player producing fabricated steel structures.

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## Freshness and sources

- Data as of: 2026-11-06
- Source: Faxioms public stock analysis API

Canonical: https://faxioms.com/stocks/jindalstel
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