JSHL to merge with Jindal Stainless to kind ‘India’s largest chrome steel co’

Jindal Stainless (Hisar) Ltd (JSHL) on Tuesday mentioned its board has accredited the corporate’s merger into the nation’s largest chrome steel maker Jindal Stainless Ltd (JSL).
Having a complete melting capability of 0.8 million tonne every year (MTPA), Hisar-based JSHL is the most important specialty chrome steel producer in India with a diversified value-added product portfolio. In a BSE submitting, the corporate mentioned its “board has considered and approved…amalgamation of JSHL (the amalgamating company into and with Jindal Stainless Ltd”.
In a joint assertion, the businesses claimed the merger will create a mega chrome steel entity that will probably be among the many top-10 chrome steel corporations on the earth and the most important chrome steel firm in India. As per the proposed construction, the mobility enterprise of JSL Lifestyle Ltd, a subsidiary of JSHL, can be merged into JSL. —With PTI