John Cockerill India shares climbed 2% following the signing of a Memorandum of Understanding (MoU) with the Steel Authority of India Limited (SAIL) on November 28, 2024, in Mumbai. The collaboration aims to revolutionize steel production in India by focusing on sustainable and green solutions.
The partnership will establish a joint venture for Cold Rolling and Processing of Carbon Steel, including Green Steel and Silicon Steel (CRGO, CRNO). Additionally, both companies will explore the integration of green hydrogen in steel manufacturing, a critical move toward decarbonizing the steel industry.
John Cockerill’s advanced processing technologies will enhance SAIL’s upcoming projects, ensuring innovative and eco-friendly production methods. This strategic alliance underscores the commitment of both companies to reduce carbon emissions while boosting the competitiveness of India’s steel sector.
On the stock market, John Cockerill India opened at ₹4,798.50, peaked at ₹4,848.00, and recorded a low of ₹4,780.00. The stock remains attractive, trading between its 52-week range of ₹2,910.00 and ₹6,443.00.
As of 9:37 am, John Cockerill India shares were trading 2.09% higher at Rs 4,812.00 on the NSE.
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