POSCO and JSW Sign an Agreement to Explore Steel Plant in India

POSCO PKX has signed a non-binding Heads of Agreement (HoA) with JSW Steel to explore setting up a 6 million tons per annum (MTPA) integrated steel plant in India. The leading steelmakers from South Korea and India joined forces to combine POSCO’s advanced steelmaking technology with JSW’s strong presence in the Indian market.The HoA lays out the framework for a proposed strategic 50:50 joint venture. The companies have agreed to undertake a detailed feasibility study to decide the plant’s location, investment structure and resource requirements. Odisha is considered a preferred site given its natural resource base and logistical advantages, although subject to feasibility and approvals. Aimed at combining POSCO’s advanced technology with JSW’s large-scale operational capabilities, the move will boost India’s self-reliance agenda.The leadership of POSCO and JSW Steel highlighted India’s significant position in the future steel industry. POSCO intends to support the industrial growth and the partnership’s alignment with India’s self-reliance vision. Together, the companies aim to create long-term value and a globally competitive manufacturing hub to serve both domestic and export markets.PKX stock has lost 15.7% over the past year compared with the industry’s 19.2% decline.Image Source: Zacks Investment ResearchPKX’s Zacks Rank & Other Key PicksPKX currently carries a Zacks Rank #2 (Buy).Some other top-ranked stocks in the Basic Materials space are Nutrien Ltd. NTR, Carpenter Technology Corporation CRS and CF IndustriesHoldings, Inc. CF. While NTR currently sports a Zacks Rank #1 (Strong Buy), CRS and CF carry a Zacks Rank #2 each. You can see the complete list of today’s Zacks #1 Rank stocks here.The Zacks Consensus Estimate for NTR’s current-year earnings is pegged at $4.30 per share, implying a 23.92% year-over-year surge. Its earnings beat the Zacks Consensus Estimate in one of the trailing four quarters while missing the rest. Its shares have gained 24.7% in the past year.The Zacks Consensus Estimate for CRS’ fiscal 2025 earnings is pegged at $9.36 per share, indicating a rise of 25.13% from year-ago levels. The company’s earnings beat the consensus estimate in each of the trailing four quarters. Its shares have soared 67.4% in the past year.The Zacks Consensus Estimate for CF’s current-year earnings is pegged at $8.10 per share, indicating a 20.18% year-over-year increase.Its earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with an average surprise of 25.29%. CF’s shares have gained 10% in the past year.  One Big Gain, Every Trading DayTo help you take full advantage of this market, you’re invited to access every stock recommendation in all our private portfolios - for just $1.Zacks private portfolio services that closed 256 double and triple-digit winners in 2024 alone. That’s about one big gain every day the market was open. Of course, not all our picks are winners, but members have seen recent gains as high as +627% +1,340%, and +1,708%.Imagine how much you could profit with a steady stream of real-time picks from all our services that cover a number of strategies to suit a variety of investing and trading styles.See Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report POSCO (PKX): Free Stock Analysis Report CF Industries Holdings, Inc. (CF): Free Stock Analysis Report Carpenter Technology Corporation (CRS): Free Stock Analysis Report Nutrien Ltd. (NTR): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks