Promoter Bought 1,05,34,668 Shares: India's Leading Steel Producer Secures 50-Year Odisha Mining Lease to Strengthen Raw Material Security
Over the past year, the company has delivered a return of -9.37 per cent while in the last 5 years the stock has given 522 per cent returns.
Jindal Steel & Power Limited has announced a significant step in its strategic growth with the receipt of a Letter of Intent (LoI) from the Government of Odisha. The LoI grants Jindal Steel a 50-year Mining Lease for the Roida-I Iron Ore and Manganese Block, located in the Keonjhar District. This vital mineral resource, spread across 104.84 hectares, is expected to significantly enhance Jindal Steel's raw material security and reinforces its commitment to integrated and sustainable steel production in India's mineral-rich eastern corridor.
The Roida-I Iron Ore and Manganese Block boasts an Environmental Clearance capacity of 3 Million Tonnes Per Annum (MTPA) and a mineral deposit of 126.05 Million Tonnes, further solidifying the strategic value of this acquisition. This development follows Jindal Steel's successful participation in an e-auction held on June 6, 2025, where the company emerged as the Preferred Bidder, in line with the provisions of the Mines and Minerals (Development and Regulation) Act, 1957, and the Mineral (Auction) Rules, 2015. The issuance of this LoI is a crucial step towards securing long-term iron ore and manganese supplies, which are critical for Jindal Steel's integrated operations.
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Pankaj Malhan, Executive Director, Angul, stated that this mining lease is a critical enabler for the company's long-term vision of self-reliant steel production. He added that with the Roida-I block, Jindal Steel is significantly bolstering its iron ore and manganese supply base, which will ensure operational stability, cost efficiency, and support its growth plans. Malhan also highlighted that this acquisition is a testament to Jindal Steel's commitment to Odisha's economic and industrial development through responsible and sustainable mining. This development further strengthens Jindal Steel's backwards integration model and reaffirms its dedication to sustainable mining, economic value creation, and community advancement in the region. Jindal Steel & Power Limited (JSPL) is a prominent industrial powerhouse with a strong presence in the steel, mining, and infrastructure sectors. The company has made a strategic investment of $12 billion worldwide and is continuously working to enhance its capacity utilisation and operational efficiencies. JSPL is dedicated to contributing to a self-reliant India. As a leading steel manufacturer, Jindal Steel is deeply committed to reducing its carbon footprint and pioneering sustainable practices, setting new benchmarks for responsible industrial growth.
In the latest quarter of march the promoter increased its stake to 62.22 per cent, buying 1,05,34,668 shares, while FIIs sold 95,96,004 shares, decreasing stake to 9.59 per cent
As of July 3, 2025, Jindal Steel & Power Ltd.'s share price on the NSE was Rs 956, showing an intraday decline of of 1.26 per cent. Over the past year, the company has delivered a return of -9.37 per cent while in the last 5 years the stock has given 522 per cent returns. Its consolidated net profit for the quarter ending March 2025 was Rs 2,846 crore, while the total revenue from operations for the same period was Rs 49,765 crore. The company's EPS stands at Rs 27.57.
Disclaimer: The article is for informational purposes only and not investment advice.