Jindal Steel shares soar over 2% on commissioning 3 MTPA basic oxygen furnace in Odisha

As of 11:39 am, the stock was trading 2.03% higher at ₹1,064.50 per equity share.

This follows the company commissioning a 3 million tonnes per annum (MTPA) capacity basic oxygen furnace (BoF) as part of its ongoing over ₹20,000 crore expansion project at Angul in Odisha.

With the installation of the new BoF, the plant's crude steel-making capacity has increased to 9 million tonne per annum (MTPA) from 6 MTPA earlier, Jindal Steel said in a regulatory filing.

A basic oxygen furnace (BoF) converts molten iron or hot metal into steel using gaseous oxygen.

“Together with blast furnace 2, the expansion synchronises hot metal and steelmaking capacities, ensuring higher throughput into downstream products,” the statement added.

The Naveen Jindal group company is in the process of investing over ₹20,000 crore to scale up the capacity of its Angul facility to 12 MTPA, making it one of the country's largest single-location steel manufacturing units.

Jindal Steel said it has commissioned its 250 MT BoF converter at the Angul integrated steel plant, adding 3 MTPA of crude steelmaking capacity.

Commenting on the development, Naveen Jindal, Chairman of Jindal Steel, said: "The new BoF is now running, and the first heat has been successfully tapped. This achievement marks a significant step toward Angul's goal of becoming a 12 MTPA steel-making plant, with a strong focus on downstream products.”

Jindal Steel stock performance

The share has declined 0.2% over the week but gained 12.2% over the week. It surged 16.3% over a period of six months.

On a year-to-date basis, the scrip has climbed 16.3%.

While the stock reached a 52-week high of ₹1,069.70 on September 23, 2025, it touched a year’s low of ₹723.35 per equity share on January 31, 2025.

Jindal Steel Ltd has a total market capitalisation of ₹1.08 lakh crore, as of September 30, 2025, according to data on the NSE.

Jindal Steel Q1 results

The steel manufacturer reported an 11.49% year-on-year (YoY) increase in its consolidated net profit to ₹1,494 crore in the June quarter of FY26, as against ₹1,340 crore in the corresponding period last year.

Its revenue from operations jumped 92.79% YoY to stand at ₹12,294 crore during the quarter under review, compared to ₹6,377 crore in the first quarter of FY25.