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Jindal Steel Gains 4%; BSE METAL Index Up 2.3%
Thu, 12 Sep 14:10

Jindal Steel Gains 4%; BSE METAL Index Up 2.3%Image source: Sakorn BernardaSv/www.istockphoto.com

Jindal Steel share price has zoomed 4% and is presently trading at Rs 1,002.5.

Meanwhile, the BSE METAL index is at 31,424.0 (up 2.3%).

Among the top gainers in the BSE METAL index today are NMDC (up 4.3%) and Vedanta (up 4.0%).

APOLLO TUBES (down 0.6%) is among the top losers today.

Over the last one year, Jindal Steel has moved up from Rs 713.7 to Rs 1,002.5, registering a gain of Rs 288.8 (up 40.5%).

On the other hand, the BSE METAL index has moved up from 23,528.2 to 31,424.0, registering a gain of 33.6% during the last 12 months.

The top gainers among the BSE METAL index stocks during this same period were Vedanta (up 85.9%), Coal India (up 74.9%) and Hindustan Zinc (up 52.8%).

Must See: These Segments are Witnessing Incredible Growth with Modi's Push

What About the Benchmark Indices?

The BSE Sensex is at 82,018.4 (up 0.6%).

The top gainers among the BSE Sensex today are NTPC (up 2.6%) and M&M (up 2.2%). The most traded stocks in the BSE Sensex are Tata Steel and Tata Motors.

In the meantime, NSE Nifty is at 25,134.0 (up 0.9%). Hindalco and Shriram Transport are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 67,127.1 to 82,018.4, registering a gain of 14,891.4 points (up 22.2%).

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 18.3.

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