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Jindal Steel & Power Ltd. ( (IN:JINDALSTEL) ) has shared an announcement.
Jindal Steel has been named the preferred bidder by the Government of Odisha for the Rengalaberha North-East Extension and Nuagan West iron ore block in Keonjhar district, following an online auction process. The 84-hectare block, explored to G2 level and estimated to hold about 38 million tonnes of iron ore, attracted a final price offer from Jindal Steel of a 111.15 percent premium to the state government.
Securing this block strengthens Jindal Steel’s captive raw material base, reinforcing its mine-to-metal model and potentially improving long-term supply security for its integrated steel operations. The award also underscores the company’s aggressive resource-acquisition strategy in Odisha, with implications for its cost structure, competitive positioning in the domestic steel market, and the state’s mineral revenue stream.
More about Jindal Steel & Power Ltd.
Jindal Steel Limited is one of India’s leading integrated steel producers, operating on a mine-to-metal model that leverages captive resources, advanced manufacturing, and a global distribution network to supply high-performance steel. With more than USD 12 billion invested in state-of-the-art facilities at Angul, Raigarh, and Patratu, and operations across India and Africa, it serves core sectors such as infrastructure, construction, and manufacturing with a diversified, sustainability-focused product portfolio.
Average Trading Volume: 46,195
Technical Sentiment Signal: Buy
Current Market Cap: 1210.8B INR
Find detailed analytics on JINDALSTEL stock on TipRanks’ Stock Analysis page.