JINDAL STEEL & POWER Surges by 5%; BSE METAL Index Up 2.0%

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JINDAL STEEL & POWER share price has zoomed 5% and is presently trading at Rs 141.

Meanwhile, the BSE METAL Index is at 10,654 (up 2.0%).

Among the top Gainers in the BSE METAL Index today is JINDAL STEEL & POWER (up 5.1%).

Over the last one year, JINDAL STEEL & POWER has moved down from Rs 218 to Rs 141, registering a loss of Rs 77 (down 35.4%).

On the other hand, the BSE METAL has moved down from 12,577 to 10,654, loss of 1,923 points (down 15.3%) during the last 12 months.

The top gainers among the BSE METAL Index stocks during this same period were NMDC LTD (up 9.0%).

What About the Benchmark Indices?

The BSE Sensex is at 38,976 (up 0.3%).

The top gainers among the BSE Sensex stocks today are TATA STEEL (up 3.5%), TATA MOTORS DVR (up 3.5%) and TATA MOTORS (up 3.0%). Other gainers include SUN PHARMA (up 2.7%) and VEDANTA LTD (up 2.6%). The most traded stocks in the BSE Sensex are YES BANK and TATA MOTORS.

In the meantime, NSE Nifty is at 11,627 (up 0.4%). TATA STEEL (up 3.5%) is among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved up from 36,266 to 38,976, registering a gain of 2,710 points (up 7.4%).

JINDAL STEEL & POWER Financial Update…

JINDAL STEEL & POWER net profit down at Rs 27 billion for the quarter ended March 2019, compared to a loss of Rs 872 million a year ago. Net Sales rose 6.2% to Rs 101.6 billion during the period as against Rs 95.7 billion in January-March 2018.

For the year ended March 2018, JINDAL STEEL & POWER reported 52.2% decrease in net profit to Rs 10.4 billion compared to net profit of Rs 21.7 billion during FY17.

Revenue of the company grew 22.0% to Rs 284 billion during FY18.

The current Price to earnings ratio of JINDAL STEEL & POWER, based on rolling 12 month earnings, stands at down 5.6x. p >

This article (JINDAL STEEL & POWER Surges by 5%; BSE METAL Index Up 2.0%) is authored by Equitymaster.

Equitymaster is a leading ‘independent’ equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

Source: equitymaster.com

Post Author: kwiknewz

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