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India’s largest stainless steel manufacturer, Jindal Stainless, today launched India’s first hot-rolled stainless steel checkered sheet with the brand name Jindal Infinity at the International China Fair. railway equipment 2021 organized by CII. This is Jindal Stainless’s second foray into the brand category after launching Jindal Saathi, Co-branded Stainless Steel Tubing and Pipe. With the launch of Infinity, the company aims to capture a 20% market share over the next 3 years, representing additional business potential of ~ INR 500 crore. According to industry estimates, the current size of the checkered plate market in India is 2,000,000 tons per year growing at an annual rate of 8%.
Speaking on the launch of ‘Infinity’, Jindal Stainless General Manager, Abhyuday Jindal said, “The launch of our branded stainless steel checkered sheet, Infinity, is another step towards raising awareness of quality for the end customer. We are targeting annual sales. 40,000 tonnes of this brand over the next two years. Although checkered plate has been used for transportation and industrial applications, stainless steel checkered plate, given their remarkably superior offerings, is sure to change the dynamics within this category.
The new stainless steel checkered sheet is made from premium 409M stainless steel. According to studies by the Materials, Science and Technology Division, CSIR, South Africa, sheets made from this grade of stainless steel are more than 150 times more corrosion resistant than those made from from mild steel. Its wear resistance is five times higher and its weight is 30% lower due to the reduced thickness of the material. These qualities make stainless steel checkered sheet a much superior and cost effective alternative for any application. In the transport segment, it also brings greater energy efficiency due to the reduction in vehicle weight. The non-corrosive nature of stainless steel makes it a safer and more hygienic choice. As Jindal Stainless produces stainless steel through the scrap circuit, Infinity is also more environmentally friendly than its category competitors.
In a growing economy like India, subject to rapid urbanization and large-scale infrastructure development, the growth potential of stainless steel checkered sheet is immense. With applications ranging from factory and factory floor coverings, to automotive (bus and truck) steps and floors, to railway bridges, to architectural stairs and flooring, etc., Infinity should both create a market for itself and replace alternative materials in this segment.
Jindal Stainless has been providing innovative and custom materials for Indian Railways for over two decades. As a leading producer of stainless steel, Jindal Stainless has supplied material for LHB cars, rail cars, subway rails and infrastructure applications. Jindal Stainless’s research and development team works closely with the Railways’ Research Designs and Standards Organization (RDSO) to develop tailor-made solutions for Indian railways.
Shares of Jindal Stainless Limited were last trading in the BSE at Rs. 184.20 from the previous close of Rs. 186.95. The total number of shares traded during the day was 115,808 in over 1,944 transactions.
The action hit an intraday high of Rs. 190.75 and an intraday low of 182.30. The net turnover during the day was Rs. 21578775.00.
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