Jindal Stainless Limited, today signed a Memorandum of Understanding (MOU) with South Korean steel company POSCO, for long-term joint business opportunities.
The MOU is applicable for 3 years and can be extended by mutual agreement. It includes supply of steel products from Jindal to Posco and its subsidiaries, review on jointly developing and exploring a nickel smelter process in Indonesia, review on joint co-operation in the Jindal Steel’s Odisha project, evaluating the possibility of jointly developing projects overseas.
Jindal Stainless Steel Ltd. ended the day on solid ground. The stock surged 8.7%; ended at RS 51 up by RS 4.10. Total volume traded at the counter stood at 7.6lakhs.
