India's steel-to-power conglomerate JSW Group will invest 26 billion rupees ($301.2 million) to set up operations at two copper mines, the company said on Monday, foraying into mining non-ferrous metals as steel prices fall.

Brokerages have largely retained their ratings and target prices for JSW Steel Ltd, following the company’s announcement of a 71 percent year-on-year decline in net profit for the December quarter. JM Financial, Anand Rathi, Elara Capital, and Antique Stock Broking maintained their ratings and kept target prices mostly unchanged.

JSW Steel reported a 70.3% year-on-year (YoY) drop in consolidated net profit for Q3FY25, with earnings falling to Rs 717 crore due to declining steel prices, media reports said.

India's JSW Steel reported a bigger-than-expected drop in third-quarter profit on Friday as lower prices and tepid demand continued to hurt the country's top steelmaker. Domestic steel mills have grappled with an influx of steel imports from China over the past year,

Results: JSW Steel reported consolidated net profit for the December quarter at Rs719 declined 70% year on year over ₹2450 Crore in the year ago quarter