Jindal Stainless acquires Chromeni Steels' remaining stake

19 Jun 2024 CW Team

Jindal Stainless Limited has successfully acquired the remaining 46% stake in Chromeni Steels for Rs 278 crore, consolidating its position in the stainless steel market. This strategic move enhances Jindal Stainless' capabilities and market share, signaling robust growth prospects in the steel industry.

The acquisition, valued at Rs 278 crore, marks a significant milestone for Jindal Stainless, allowing it to capitalize on synergies and expand its footprint in the stainless steel segment. The deal strengthens Jindal Stainless' position as a key player in the industry, leveraging Chromeni Steels' expertise and resources.

Jindal Stainless' acquisition of Chromeni Steels' remaining stake aligns with its strategic objectives of growth and market leadership. This move is expected to drive operational efficiencies, enhance product offerings, and create value for stakeholders.

The acquisition further solidifies Jindal Stainless' commitment to innovation, quality, and sustainability in the steel sector. By integrating Chromeni Steels' assets and capabilities, Jindal Stainless aims to deliver superior products and services to its customers while maintaining a competitive edge in the market.

Key stakeholders, including shareholders and industry experts, view this acquisition as a positive development that strengthens Jindal Stainless' market position and augments its growth trajectory. The deal underscores Jindal Stainless' strategic vision and proactive approach in pursuing growth opportunities.

Overall, Jindal Stainless' acquisition of Chromeni Steels' remaining stake for Rs 278 crore is a strategic investment aimed at bolstering its market presence, driving growth, and delivering long-term value to its stakeholders.

Infrastructure Transport

17 Sep 2025

Adani wins Kedarnath ropeway project to cut trek to 36 minutes

Adani Enterprises Ltd (AEL) has secured the contract to build a 12.9-km ropeway connecting Sonprayag with Kedarnath, a project expected to transform the pilgrimage experience. Awarded by National Highways Logistics Management Ltd (NHLML), the project will be executed under the National Ropeways Development Programme – Parvatmala Pariyojana.Currently, pilgrims undertake a gruelling nine-hour trek to Kedarnath. The ropeway will reduce this journey to just 36 minutes and can transport 1,800 passengers per hour in each direction, serving the nearly 20 lakh devotees who visit annually.The Rs 25,0..

Gurugram Rapid Metro to shift from DMRC to GMRL control

The Haryana Mass Rapid Transport Corporation Limited (HMRTC) has begun the process of transferring Gurugram’s Rapid Metro operations from the Delhi Metro Rail Corporation (DMRC) to Gurugram Metro Rail Limited (GMRL). The decision was taken at HMRTC’s 62nd Board meeting, chaired by chief secretary Anurag Rastogi.Committees have been formed to oversee the transition, covering technical, legal, and operational aspects, with definitive timelines being prepared. Until the transfer is complete, the system will be managed jointly by DMRC and GMRL.The Rapid Metro has shown notable performance impr..

Chandigarh Metro cost climbs to Rs 25,000 crore amid delays

The long-awaited Chandigarh Tricity Metro project has seen its estimated cost balloon to nearly Rs 25,000 crore, following delays in approvals by the Union Territory administration. The cost, which stood at Rs 23,263 crore in February 2025, has risen by Rs 1,737 crore in just seven months, according to officials.The matter was raised during the transport standing committee meeting of the Administrator’s Advisory Council, chaired by AAP state president Vijay Pal. A presentation by Rail India Technical and Economic Service (RITES) strongly recommended that the Metro is the most suitable mass r..