What is your view on Jindal Steel and Power? I am asking because the company had some strong debt reduction plans?

The debt reduction plan of JSPL is absolutely on and in fact the company has already taken a decision to eschew borrowings in the coming years. Instead, JSPL will look to generate cash flows via asset sales and through strategic divestment. The company had closed financial year 2020 (Apr-Mar) with consolidated EBITDA of Rs.8406 crore. JSPL’s overall debt stands at a consolidated level stands of Rs.34,000 crore. This is down 28% from its peak level of Rs.47,000 crore in 2016-17. Navin Jindal has confirmed that the plan is to bring the debt down to Rs.25,000 crore in 2 years. Even the promoter pledge debt has been brought down from Rs.1151 crore to Rs.355 crore. This will release their pledged shares and reduce the volatility risk of the stock. The promoter debt is expected to be reduced to zero in the next 18 months. The company may even go for a strategic sale right away of its Oman operations to raise cash.