Jindal Steel & Power Limited
BOM:532286 ISIN:INE749A01030
Jindal Steel & Power Limited is a sponge iron manufacturer in India. During the fiscal year ended March 31, 2009 (fiscal 2009), the Company produced 12, 48,511 metric tons of sponge iron; 16,143 metric tons of ferro chrome; 15,78,790 metric tons of semi-finished steel product and 9,98,205 metric tons of finished steel. Raipur Unit produced 937 metric tons of MS ingots, 1964 metric tons of casting and has done machining of 4,210 metric tons during 2009. The production of calibrated iron ore at captive mine at Tensa in Orissa was 1,042,000 metric tons. Its subsidiaries include Jindal Power Limited; Jindal Minerals & Metals Africa Limited; Jindal Steel & Power (Mauritius) Limited; Jindal Steel Bolivia SA and Chhattisgarh Energy Trading Company Limited. Jindal Petroleum Limited, through its subsidiary Jindal Petroleum (Georgia) Limited, acquired five oil and gas blocks from Ministry of Energy of Georgia in the state of Georgia during fiscal 2009.
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Asian shares delivered a positive opening this morning. The Asian bourses were higher in thin trade on the last day of 2009 as commodity prices rose and China pledged to maintain policies that helped pull the world economy out of recession. For the year, Hong Kong's Hang Seng Index added 52%, Australia's S&P/ASX 200 Index gained 31% in 2009 and Singapore was up 65 percent over the year. But Wall Street tumbled on the final trading day in 2009. Dow index remains down 26 per cent from its 2007 highs.
Wall Street posted a small gain on Friday despite the Labour Department report showed the US unemployment rate broke above 10 per cent in October, up from 9.8 per cent in September. But the number of jobs lost narrowed to the lowest level in more than a year.
Overnight Wall Street extended its gains on Reserve Bank of Australia's unexpected decision to raise the official interest rate. Investors saw the first rate hike in advanced economies since the global financial crisis as a key indication of recovery. The move also pushed commodities higher with gold soaring to a record.
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