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Jindal Steel Plunges 3%; BSE METAL Index Down 2.5%
Tue, 8 Oct 9:27

Jindal Steel Plunges 3%; BSE METAL Index Down 2.5%Image source: asbe/www.istockphoto.com

Jindal Steel share price has plunged 3% and is presently trading at Rs 966.2.

Meanwhile, the BSE METAL index is at 32,663.5 (down 2.5%).

Among the top losers in the BSE METAL index today are NMDC (down 6.1%) and Tata Steel (down 4.1%).

Hindustan Zinc (up 0.5%) is among the top gainers today.

Over the last one year, Jindal Steel has moved up from Rs 678.6 to Rs 966.2, registering a gain of Rs 287.6 (up 42.4%).

On the other hand, the BSE METAL index has moved up from 22,570.7 to 32,663.5, registering a gain of 44.7% during the last 12 months.

The top gainers among the BSE METAL index stocks during this same period were Vedanta (up 118.4%), Coal India (up 65.7%) and Hindustan Zinc (up 61.3%).

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What About the Benchmark Indices?

The BSE Sensex is at 81,134.6 (up 0.1%).

The top gainers among the BSE Sensex today are Ultratech Cement (up 1.2%) and Hindustan Unilever (up 1.1%). The most traded stocks in the BSE Sensex are Tata Steel and Tata Motors.

In the meantime, NSE Nifty is at 24,810.0 (up 0.1%). M&M and Hindustan Unilever are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 65,226.0 to 81,134.6, registering a gain of 15,908.6 points (up 24.4%).

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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