Jindal Stainless Ltd up by 8.47 percent | Espresso


Espresso shot of the day – Jindal Stainless Ltd up by 8.47 percent

April 26, 2021
Espresso shot of the day – Jindal Stainless Ltd up by 8.47 percent

JINDAL STAINLESS LTD 84.50 (+8.47%) BSE – INE220G01021 | 26TH APRIL 2021

Shri Om Prakash Jindal embarked on the journey of his illustrious industrial career in 1952 with a humble bucket-manufacturing unit in Liluah. Little did people know then that this young man, born to a farmer in Nalwa village of Hisar district in Haryana, would soon be referred to as ‘The Man who spoke to Machines’. In 1964, recognising the lacuna in India’s industrial sector, he commissioned a pipe unit, Jindal India Limited, followed by a large factory in 1969 under the name of Jindal Strips Limited. Jindal Stainless Corporate Management Services (JSCMS) acts as an internal advisor and provides necessary advisory and back-end support services to the Jindal Stainless Group Companies. As an advisory company, JSCMS functions closely with Directors, Business Heads, and other Functional Heads of the Group Companies to support them and drive seamless flow of business operations. JSCMS acts as a catalyst to achieve business excellence and helps in creating value for the Group Companies by introducing best practices and regulating processes.

Recent Drivers

  • On 23rd April 2021, Jindal Stainless Limited (JSL) has announced to supply 300 tonne of liquid medical oxygen daily from its plant, in view of rise in Covid-19 cases.
  • On 12th March 2021, the company officials said, The Jindal Stainless group has received the nod from the bourses for the scheme of amalgamation of Jindal Stainless (Hisar) Limited into Jindal Stainless Limited They said, the merger will lead to a simplified capital structure, expanding the turnover of the combined business to Rs 20,000 crores.
  • On 18th February 2021, Jindal Stainless (Hisar) Limited announced that, the company's long term credit facilities have been assigned IND A/RWE rating by India Ratings and Research (Ind-Ra). Additionally, short-term credit facilities were assigned IND A/RWE/INDA1 by the agency. This rating factors in a string of positive developments at JSHL in the last few months, despite pandemic-induced disruptions.
  • Jindal Stainless Limited reported quarterly net profit at Rs 170.09 crores in December 2020 up 228.3% from Rs 51.81 crores in December 2019.
  • Jindal Stainless Limited reported net sales at Rs 3,584.63 crores in December 2020 up 8.55% from Rs 3,302.39 crores in December 2019.

(Sources: Economic Times, Moneycontrol, Business Standard, New Indian Express)

Technical Force*

  • S&P BSE 500 month till date gain up by -0.79%
  • Spurt in volume by more than 2.74 times compares to previous vol. 3 months avg volume – 1,37,066
  • Quantity traded 5,91,053 Deliverable quantity 1,98,859 (33.64%)
  • Stock price has jumped more than 220% from one year low level – 26.25, 28 May 2020
  • Daily RSI(14) is in overbought territory today
  • 52-week high – 95.95 | 52-week low – 26.25

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Some Key Ratios (Source: BSE)

Market Cap: 4,117.13 crores

PE: 26.92

OPM%: 9.95

ROE%: 5.16

Promoters holding : 68.12

Prev. Close: 77.90

*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.