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JSW Steel Limited (JSWSTEEL.BO)
- Reuters
India's Centre Court Capital launches $42 million sports, gaming tech fund
Sports technology-focussed fund Centre Court Capital said on Thursday that it has launched a 3.5 billion rupees (around $42 million) venture capital fund that includes investments from the owners of India's JSW Group and billionaire Azim Premji's wealth fund. Centre Court Capital, or CCC, has raised 2 billion rupees so far from athletes and companies including SG Sports, the sports and entertainment arm of steel tubes and pipe-maker APL Apollo, and will back founders bringing innovative tech into sports and the gaming ecosystem, the fund said in a press release. India is home to three gaming unicorns in Game 24X7, Dream11 and Mobile Premier League, besides having the world's second-largest population of gamers.
- Reuters
UPDATE 3-JSW says MG Motor JV aims to sell 1 mln EVs in India by 2030
A JSW Group and MG Motor joint venture aims to have sold 1 million electric vehicles in India by 2030 and to corner a third of the market, a JSW executive said on Wednesday. At a media event in Mumbai to present their new model, the "Cyberster EV" sportscar, the two companies said that the JV plans to initially focus on premium passenger vehicles. Sajjan Jindal, JSW Group Chairman, said the JV plans to launch its first plug-in hybrid car by 2025 and will produce batteries and set up charging infrastructure across India.
- Reuters
India's steel majors to invest billions to meet buoyant local demand
Leading Indian steel producers, including JSW Steel Ltd and Tata Steel Ltd, are expected to invest billions in a record capacity increase to benefit from rising domestic demand in one of the world's fastest growing economies. A spurt in economic activity and a revamp of broader infrastructure have drawn steel makers from around the world to India, where demand is rising. Analysts and company data showed major mills were planning to increase capacity by at least 22 million metric tons in the fiscal year beginning April 2024.
