CURRENT AFFAIRS

Detailed explanation-1: -New Delhi: Jindal Steel and Power Limited (JSPL) will spend Rs 7,930 crore under the PLI scheme for specialty steel to manufacture eight types of high-end alloy in the country, its Managing Director Bimlendra Jha said.

Detailed explanation-2: -Capacity Addition to go up to 26 million Tonnes with the Employment generation Capacity of 70,000. Production Linked Incentive (PLI) Scheme for Specialty Steel was approved by Union Cabinet on 22.07. 2021, with a five-year financial outlay of Rs.

Detailed explanation-3: -JSPL has created cutting-edge capacities to produce upto 9.95 Million Tonne Per Annum (MTPA) Iron through a judicious mix of Direct Reduced Iron (DRI), Blast Furnace and Hot Briquetted Iron (HBI) Routes catering to its 11.6 MTPA* Liquid Steelmaking capacities across three locations in India and abroad.

Detailed explanation-4: -Sajjan Jindal-led JSW Steel is eyeing a capacity of 50 million tonne (mt) by 2030 mirroring the country’s growth.

Detailed explanation-5: -NSE -0.31 % & Power with a target price of Rs 650. The current market price of Jindal Steel & Power is Rs 599.9. Time period given by analyst is 3-4 weeks when Jindal Steel & Power price can reach defined target. Axis Securities recommended to keep stop loss at Rs 536.