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Jindal Steel Plunges 3%; BSE METAL Index Down 1.9%
Tue, 15 Oct 13:49

Jindal Steel Plunges 3%; BSE METAL Index Down 1.9%Image source: KanawatTH/www.istockphoto.com

Jindal Steel share price has plunged 3% and is presently trading at Rs 967.4.

Meanwhile, the BSE METAL index is at 32,971.7 (down 1.9%).

Among the top losers in the BSE METAL index today are SAIL (down 2.6%) and Hindalco (down 2.4%).

Over the last one year, Jindal Steel has moved up from Rs 693.2 to Rs 967.4, registering a gain of Rs 274.2 (up 39.6%).

On the other hand, the BSE METAL index has moved up from 23,059.1 to 32,971.7, registering a gain of 43.0% during the last 12 months.

The top gainers among the BSE METAL index stocks during this same period were Vedanta (up 115.0%), Coal India (up 63.2%) and Hindustan Zinc (up 61.7%).

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

What About the Benchmark Indices?

The BSE Sensex is at 81,786.1 (down 0.2%).

The top losers among the BSE Sensex today are Bajaj Finance (down 2.4%) and JSW Steel (down 2.0%). The most traded stocks in the BSE Sensex are Tata Steel and Reliance Ind..

In the meantime, NSE Nifty is at 25,064.1 (down 0.3%). Bajaj Auto and Bajaj Finance are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,473.1 to 81,786.1, registering a gain of 15,313.0 points (up 23.0%).

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 17.7.


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