Espresso shot of the day – Jindal Stainless (Hisar) Ltd up by 8.44 percent

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Espresso shot of the day – Jindal Stainless (Hisar) Ltd up by 8.44 percent

July 09, 2021
Espresso shot of the day – Jindal Stainless (Hisar) Ltd up by 8.44 percent

JINDAL STAINLESS (HISAR) LTD 225.40 (+8.44%) BSE – INE455T01018 | 9TH JULY 2021


Jindal Stainless (Hisar) Limited (JSHL) was established in 1975 when Shri OP Jindal envisioned a self-reliant India, capable of fulfilling its stainless steel demand. Stainless steel, then, was no less than a luxury metal and India was completely dependent on imports to meet its demand, which attracted duties up to 300%. It was Shri O P Jindal's vision and his pioneering spirit that led to the establishment of JSHL, India's first stainless steel manufacturing unit. Since its inception, JSHL has worked on a strategy of both backward and forward integration; starting from melting, casting, hot rolling to cold rolling and other value additions. Today, JSHL is an integrated stainless steel plant with a melting capacity of 8,00,000 tonnes per annum. It is also the world's largest producer of stainless steel strips for razor blades and India's largest producer of coin blanks, serving the needs of Indian and international mints. JSHL’s Specialty Product Division caters to the high-end precision and specialty stainless steel requirements of reputed Indian and international customers. The product range includes slabs and blooms, hot-rolled coils, cold-rolled coils, plates, blade steel, coin blanks and precision strips. Going forward, the company plans to continue its focus on the development of new value-added stainless steel grades, process improvements and customer satisfaction by developing customised products matching their specific requirements.

Recent Drivers

  • On July 2, 2021, rating agency CARE Ratings has upgraded long-term bank facilities of Jindal Stainless (Hisar) Limited (JSHL) to CARE A plus and the rating for short-term bank facilities of the company has been upgraded to CARE A1 plus. Previous ratings assigned to JSHL by CARE in January 2021 were CARE A minus and CARE A2 plus, respectively.
  • On July 2, 2021, in a press release, the company has mentioned impending merger of Jindal Stainless (Hisar) Limited (JSHL) in Jindal Stainless Limited (JSL). They said, “the merger of JSL and JSHL will create one of the largest stainless-steel entities with a total capacity of 1.90 MTPA. Subsequent to the merger, the combined entity is expected to have more diversified operations, wider presence both domestically as well as globally, higher bargaining power with the suppliers and will become one of the top ten global stainless-steel manufacturers… (the) merger once completed is expected to result in an improvement in business and financial profile at group level supported by the industry-leading large scale of operations and better financial flexibility and liquidity position.”
  • JSHL reported quarterly net profits at Rs 225.93 crores in Mar 2021, up 140.89% from Rs 93.79 crores in Mar 2020.
  • JSHL reported net sales at Rs 2,758.47 crores in Mar 2021, up 35.86% from Rs 2,030.32 crores in Mar 2020.
  • On May 17, 2021, a 500-bed COVID hospital at Jindal-Stainless-operated OP Jindal Modern School in Hisar was inaugurated by Chief Minister of Haryana, Manohar Lal Khattar.
(Sources: The Economic Times, Moneycontrol, BSEIndia, The CSR Journal)


Technical Force*

  • S&P BSE 500 month till date gain up by -0.01%
  • Traded on all-time-high value of 227.30
  • 3 months avg. volume of BSE: 1,26,314
  • Quantity traded: 1,08,900 | Deliverable quantity: 28,380 (26.06%)
  • Stock price has jumped more than 240% from one-year-low level: 67.00 (July 31, 2020)
  • Daily RSI (14) is at Overbought territory today
  • 52-week-high: 227.30 | 52-week-low: 67.00

Key Pivot  (Yearly)

R4

R3

R2

R1

PP /FIB PP

S1

S2

S3

S4

Pivot Point

-

316.77

237.23

189.47

109.93

62.17

-

-

-

Fibonacci Pivot

237.23

188.60

158.56

139.21

109.93

80.65

61.30

31.26

-


Today’s Close

225.40

SMA

BSE

10 DAY

210.34

20 DAY

202.39

50 DAY

187.19

200 DAY

138.75


Some Key Ratios (Source: BSE)

Market Cap: 5,317.97 crores

PE: 10.26

OPM%: 14.67

ROE%: 20.64

Promoters holding %: 57.67

Prev. Close: 207.85

*Chart And Technical Force data taken from the Binge desktop app.

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Chandresh Khona
by Chandresh Khona

Product Offerings Head

A teacher, writer, travel buff and now Espresso's Product Offerings Head. Ten years here has allowed me to lead the digital team at Sharekhan. My true passion lies in stock market charts.