Jindal Steel Share Price Escalated 1.30% Intraday

On 4^th August, Jindal Steel share price opened with a rise of 1.05 points at Rs. 81.25 while its previous closing was noted at Rs.80.55. The stock saw a surge in volume by more than 10 times recording the intraday high and low at Rs. 83.00 and Rs. 79.00 respectively. 

According to reports, Jindal Steel has planned to sell a 15% stake in itself to Japan's Yamato Steel for Rs. 2,500 crore. The company affirmed to reach an agreement with banks on a debt recast for its steel business this month.

As of now, Jindal steel share price is trading at Rs. 75.70 up by 1.30%. On NSE, as per today, 2 crore shares were traded in the counter. Previously, the stock was in huge demand as 64 million shares changed hands on the Bombay Stock Exchange and National Stock Exchange. Especially on the NSE, more than 56 million shares changed hands.

Market Analysis:

Jindal Steel share price has a book value Rs. 198.35 meeting its 52 week high of Rs. 98.15 on 31^st Dec ‘15 and a 52 week low of Rs. 48.10 on 12^th Feb ’16. . The closest support and resistance level Jindal Steel share price is observed at Rs. 70.70 and Rs. 85.25 respectively. The market cap of the company amounts to Rs. 7369.55 (Cr)

For further information refer to Jindal Steel share price history.