Jindal Stainless Ltd Share Price – NSE /  BSE

Steel, Small Cap

The project, developed by Oyster Renewable at an investment of over Rs 2,000 crore, includes a committed investment of Rs 132 crore from Jindal Stainless. It spans Madhya Pradesh and Gujarat, with around 216 MW of solar and wind capacity in Madhya Pradesh and an additional 99 MW in Gujarat.

The facility is being commissioned in phases, beginning with the Madhya Pradesh unit, followed by the Gujarat installation. The project is aimed at supporting Jindal Stainless? transition towards a cleaner and more resilient energy mix, underscoring the increasing role of large-scale renewable infrastructure in industrial decarbonisation.

The hybrid project combines bifacial solar modules with tracker systems and advanced 3.15 MW wind turbines supplied by Suzlon Energy in a co-located configuration. The design is expected to enable a more balanced generation profile by leveraging both solar and wind resources, improving power availability and ensuring a more stable supply of renewable energy for industrial use.

Jindal Stainless is India?s leading stainless-steel manufacturer of stainless steel flat products, in austenitic, ferritic, martensitic and duplex grades in India used in a variety of industries like automobile, railways, construction, consumer goods, etc.

The company?s consolidated net profit jumped 26.56% to Rs 828.79 crore on 6.16% increase in revenue from operations to Rs 10,517.55 crore in Q3 FY26 over Q3 FY25.

Shares of Jindal Stainless fell 2.64% to Rs 705.25 on the BSE.

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Jindal Stainless and Oyster Renewable Energy today announced the part commissioning of a 315.6 MW solar-wind hybrid renewable energy project in Agar-Malwa, Madhya Pradesh, marking a significant milestone in advancing clean energy adoption within India's industrial sector.

The project, developed by Oyster Renewable and set at a total investment of over Rs 2,000 crore, includes a committed investment of Rs 132 crore from Jindal Stainless. It spans Madhya Pradesh and Gujarat, with ~216 MW of solar and wind power to be generated in Madhya Pradesh and an additional 99 MW in Gujarat. The project is currently being commissioned in phases, starting with the Madhya Pradesh facility, to be followed by the commissioning of the Gujarat facility. Designed to support Jindal Stainless' transition towards a cleaner and more resilient energy mix, the project reinforces the growing role of large-scale renewable infrastructure in driving industrial decarbonisation.

The project integrates bifacial solar modules with tracker systems alongside advanced Suzlon 3.15 MW wind turbines in a co-located hybrid configuration. This design enables a more balanced renewable generation profile by harnessing both solar and wind resources, helping improve power availability and supporting the delivery of more stable renewable energy for industrial consumption.

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The development marks a key milestone in the company?s global expansion strategy.

With this, the company?s total melting capacity has increased to 4.2 MTPA, including 3 MTPA in India. Complementing this, Jindal Stainless is set to commission a 1.1 MTPA Hot Rolled Annealed Pickled (HRAP) line by Q4FY27 and 0.17 MTPA cold rolling capacity by Q2FY27 at its Jajpur, Odisha facility, as part of its earlier announced Rs 1,900 crore investment.

The company has also earmarked an additional Rs 900 crore to expand cold rolling capacities at its Hisar and Kharagpur plants, expected to be commissioned by Q2FY28. These expansions will support production of thinner cold rolled products catering to high-growth sectors.

Following the capacity additions, Jindal Stainless aims to increase its cold rolling capacity from 2.05 MTPA in FY26 to 2.67 MTPA by FY28, with downstream facilities accounting for 64% of total melt capacity. The company is targeting sales volumes of around 3.5 MTPA by FY29, implying a double-digit CAGR over the next three years.

Abhyuday Jindal, managing director (MD), Jindal Stainless, said, ?The commissioning of the Indonesia facility ahead of schedule, alongside a significant push in downstream capabilities, reflects our commitment to raw material security and Press Release integrated approach to growth. While expanding our production footprint, we are equally focused on enhancing value addition through a stronger portfolio of thinner cold-rolled products. Collectively, these efforts will enable us to better serve evolving market needs and reinforce our position on the global stainless steel map.?

Tarun Khulbe, CEO, Jindal Stainless, said, Expansion in melt capacity and corresponding strengthening of downstream facilities speaks volumes about our commitment to fuel the Indian growth story. Our capacity and production enhancements are in line with the robust domestic potential of our country. With the activation of new capacities, we will unlock the next phase of growth for Jindal Stainless, strengthening our vision to build world-class capabilities in stainless steel.

Jindal Stainless is India?s leading stainless-steel manufacturer of stainless steel flat products, in austenitic, ferritic, martensitic and duplex grades in India used in a variety of industries like automobile, railways, construction, consumer goods, etc.

The company?s consolidated net profit jumped 26.56% to Rs 828.79 crore on 6.16% increase in revenue from operations to Rs 10,517.55 crore in Q3 FY26 over Q3 FY25.

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Jindal Stainless Ltd gained for a third straight session today. The stock is quoting at Rs 745.3, up 1.19% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is down around 0.61% on the day, quoting at 23722.1. The Sensex is at 76393.47, down 0.61%. Jindal Stainless Ltd has slipped around 2.47% in last one month.

Meanwhile, Nifty Metal index of which Jindal Stainless Ltd is a constituent, has slipped around 0.98% in last one month and is currently quoting at 11822.1, down 0.55% on the day. The volume in the stock stood at 3.16 lakh shares today, compared to the daily average of 10.27 lakh shares in last one month.

The PE of the stock is 21.9 based on TTM earnings ending December 25.

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