This Steel Giant Just Changed How India Makes Steel

Jindal Steel shares opened at Rs 1,131.00 and were trading at Rs 1,152.20 as of 9:40 AM on April 6, 2026, up 1.15 per cent for the session. The stock touched an Intraday high of Rs 1,152.20 and held a low of Rs 1,123.40.

Jindal Steel has deployed coal gasification technology across its steelmaking operations, becoming the first company in India to do so at this scale. The announcement was made on April 6, 2026. Coal gasification is a process that converts coal into syngas, a gas that can be used as fuel in industrial processes. In steel production, syngas can replace imported fuels like natural gas, LPG, propane, and coking coal. Using domestically available coal to produce this gas reduces the need to import fuel, which brings down costs and reduces dependence on foreign energy sources.

Jindal Steel has applied this technology in three areas. First, it set up India's first coal gasification-based Direct Reduced Iron plant, where syngas is used in the iron-making process. Second, it deployed syngas in its galvanising and colour coating line furnaces, which the company says has not been done anywhere else in the steel industry. Third, it introduced syngas injection into its blast furnace, which has helped reduce the use of imported coking coal and lowered carbon emissions per tonne of steel produced. The move also addressed a practical problem. Shortages of natural gas, LPG, and propane had created supply challenges for the company. By switching to syngas produced from domestic coal, Jindal Steel reduced its exposure to those supply disruptions.

The Government of India's National Coal Gasification Mission is expected to encourage more companies to adopt similar technologies. Jindal Steel's implementation gives a working example of how coal gasification can be used across an integrated steel plant.

Management Commentary
P.K. Biju Nair, Executive Director at Jindal Steel's Angul operations, said that syngas produced from domestic coal has the potential to replace imported methanol, ammonia, ammonium nitrate, and LNG. He added that India needs to utilise its large coal reserves to reduce foreign exchange outflow and support low-carbon growth. He noted that coal gasification, when combined with Carbon Capture, Utilisation and Storage technology, known as CCUS, will lower emission intensity, support compliance with the Carbon Border Adjustment Mechanism, and strengthen India's export competitiveness in steel.

About the Company
Jindal Steel is one of India's largest integrated steel producers, operating on a mine-to-metal model with captive resources, manufacturing facilities, and a global distribution network. The company has an investment footprint exceeding USD 12 billion, with plants in Angul, Raigarh, and Patratu, and operations across India and Africa. Its product portfolio serves the infrastructure, Construction, and manufacturing sectors.

The company's market capitalisation stands at Rs 1,17,401.94 crore. The stock has traded between a 52-week high of Rs 1,272.10, recorded on February 26, 2026, and a 52-week low of Rs 770.00, recorded on April 9, 2025.

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Disclaimer: The article is for informational purposes only and not investment advice.