To extend its global reach, the indigenous Jindal Group is in talks with Vitkovice Steel to purchase a 100% interest in the Czech company. According to insiders, the group plans to finalize the acquisition through its unit Jindal Steel International before the end of this fiscal year. This will be Jindal Group's first acquisition in Europe. 

The Naveen Jindal-owned company already has a strong presence in Australia, Mozambique, and Oman in industries such as steel, power, and mining. "The management of both sides is actively negotiating the transaction. As part of the arrangement, Jindal Group would acquire a 100% share in Vitkovice Steel. "This will be Jindal Group's first acquisition in Europe," industry sources stated.

According to sources, the deal might be for approximately 150 million euros (roughly Rs 1,000 crore). The acquisition of Vitkovice Steel will assist the Jindal Group in establishing a presence in the European market, which is implementing CBAM (carbon border adjustment tax) to encourage green steel. In addition, the firm is establishing a hydrogen-based steel manufacturing facility in Oman through its subsidiary Vulcan Green Steel (VGS).

JSW Energy gets 125 Mw wind portfolio for Rs 630 crore. JSW Energy told the markets that JSW Neo Energy, the company's wholly-owned subsidiary, has signed definitive agreements to buy three special purpose vehicles ("3 SPVs") from Hetero Labs and Hetero Drugs. Following the purchase, the three SPVs will become JSW Neo subsidiaries. 

The three SPVs own a total of 125 MW of wind energy-producing capacity. JSW Energy stated that the transaction has an enterprise value of Rs 630 crore, subject to net working capital adjustments and other adjustments at completion.