Motilal Oswal has given a buy rating to Jindal Steel & Power with a target price of Rs 238. The share price moved up by 1.84 per cent from its previous close of Rs 190.10. The stock’s last traded price is Rs 193.45.
Jindal Steel & Power Ltd., incorporated in the year 1979, is a Mid Cap company (having a market cap of Rs 19987.21 Crore) operating in Metals – Ferrous sector.
Jindal Steel & Power Ltd. key Products/Revenue Segments include Iron & Steel Items which contributed Rs 27578.86 Crore to Sales Value (98.97 % of Total Sales), Other Operating Revenue which contributed Rs 205.06 Crore to Sales Value (0.73 % of Total Sales), Export Incentives which contributed Rs 61.91 Crore to Sales Value (0.22 % of Total Sales) and Scrap which contributed Rs 17.50 Crore to Sales Value (0.06 % of Total Sales)for the year ending 31-Mar-2019.
For the quarter ended 30-06-2020, the company reported a Consolidated sales of Rs 9278.77 Crore, up 5.31 % from last quarter Sales of Rs 8810.68 Crore and down 6.70 % from last year same quarter Sales of Rs 9945.58 Crore. The Company reported net profit after tax of Rs 267.58 Crore in latest quarter.
Promoters held 60.48 per cent stake in the company as of March 31, 2020, while FIIs held 13.40 per cent, DIIs 12.35 per cent and public and others 13.77 per cent.