Jindal Steel and Power says enquiries from European buyers on rise

NEW DELHI (Reuters) -India’s Jindal Steel and Power Ltd (JSP) has received a flurry of enquiries from European buyers seeking finished steel products, indicating an uptick in exports in the current quarter through March, a senior company executive said on Tuesday. His comments come after JSP reported a nearly 68% drop in profits for the quarter ended Dec. 31, hit by the government’s decision to levy an export tax in May last year on some steel intermediates and a fall in global demand.

“We did see some increase in the order book and a lot of enquiries (from Europe),” Bimlendra Jha, managing director of Jindal Steel and Power, told Reuters in an interview.