Trending stocks: Jindal Steel & Power shares rises 1%

Trending stocks: Jindal Steel & Power shares rises 1%

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Shares of Jindal Steel & Power Ltd. traded 0.87 per cent up in Wednesday’s trade at 11:08AM (IST). Around 186,325 shares changed hands on the counter.

The stock opened at Rs 226.9 and touched an intraday high and low of Rs 228.4 and Rs 225.2, respectively, in the session so far. The stock of Jindal Steel & Power Ltd. quoted a 52-week high of Rs 228.4 and a 52-week low of Rs 62.1.

Total market cap of the Jindal Steel & Power Ltd. stood at Rs 23133.96 crore at the time of writing this report.

Key Financials
The company reported consolidated net sales of Rs 9278.77 crore for the quarter ended 30-Jun-2020, up 5.31 per cent from previous quarter’s Rs 8810.68 crore and up 6.7 per cent from the year-ago quarter’s Rs 9945.58 crore.

The net profit for latest quarter stood at Rs 183.1 crore, up 1841.68 per cent from the same quarter a year ago.

Shareholding pattern
As of 30-Jun-2020, DIIs held 9.78 per cent stake in the firm, while foreign institutional investors held 12.02 per cent and the promoters 53.77 per cent.

Valuation ratio
According to BSE data, the stock traded at a price-to-earnings multiple of 358.5 and a price-to-book ratio of 0.74. A higher P/E ratio shows investors are willing to pay a higher price because of better future growth expectations. Price-to-book value indicates the inherent value of a company and is the measure of the price that investors are ready to pay even for no growth in the business.

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