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Jindal Steel Gains 4%; BSE METAL Index Up 1.7%
Fri, 18 Oct 13:42

Jindal Steel Gains 4%; BSE METAL Index Up 1.7%Image source: Kameleon007 /www.istockphoto.com

Jindal Steel share price has zoomed 4% and is presently trading at Rs 967.0.

Meanwhile, the BSE METAL index is at 33,158.4 (up 1.7%).

Among the top gainers in the BSE METAL index today are NMDC (up 3.1%) and Hindalco (up 2.4%).

Hindustan Zinc (down 0.7%) is among the top losers today.

Over the last one year, Jindal Steel has moved up from Rs 691.9 to Rs 967.0, registering a gain of Rs 275.1 (up 39.8%).

On the other hand, the BSE METAL index has moved up from 23,515.5 to 33,158.4, registering a gain of 41.0% during the last 12 months.

The top gainers among the BSE METAL index stocks during this same period were Vedanta (up 108.7%), Coal India (up 57.4%) and Hindustan Zinc (up 56.8%).

Dear Reader: If You Invest in Midcap Stocks, this is for You

What About the Benchmark Indices?

The BSE Sensex is at 81,312.9 (up 0.4%).

The top gainers among the BSE Sensex today are Axis Bank (up 6.0%) and Tata Motors (up 2.6%). The most traded stocks in the BSE Sensex are Tata Steel and Tata Motors.

In the meantime, NSE Nifty is at 24,858.1 (up 0.4%). Axis Bank and Wipro are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,166.9 to 81,312.9, registering a gain of 15,146.0 points (up 22.9%).

Jindal Steel Financial Update...

Jindal Steel net profit fell 20.9% YoY to Rs 13,379 million for the quarter ended June 2024, compared to a profit of Rs 16,920 million a year ago. Net sales rose 8.2% to Rs 136,178 million during the period as against Rs 125,883 million in April-June 2023.

For the year ended March 2024, Jindal Steel reported 86.1% increase in net profit to Rs 59,433 million compared to net profit of Rs 31,932 million during FY23. Revenue of the company fell 6.3% to Rs 420,953 million during FY24.

The current Price to earnings ratio of Jindal Steel, based on rolling 12 month earnings, stands at 17.6.


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