India's Jindal Stainless rises after doubling slag processing capacity in Odisha plant

Jindal Stainless

16/10/2025 06:52

** Shares of Jindal Stainless JIST.NS rise as much as 2.6% to 804.4 rupees apiece, a three-week high

** Rise after the steel maker says it is doubling its slag processing capacity with a new milling plant at its Odisha plant

** Investment for the capacity is expected to be at $150 million to build and operate the plant under a 15-year partnership with Harsco Environmental

** JIST shares are up about 3.5% in two sessions since the announcement

** ICICI Direct says it remains positive on JIST as the plant will support the company's expanded capacity operations, help recover metal from industrial waste

** The average rating of 13 analysts tracking JIST is "buy"; the median price target is 767.5 rupees, data compiled by LSEG shows

** JIST shares are up 12.1% in 2025 so far, lagging the 18.6% rise in the metal index .NIFTYMET, exchange data shows

 (Reporting by Bharath Rajeswaran in Bengaluru)

 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))