JSL Share Price dipped 5% Intraday

JSL share price was seen to dip more than 5 per cent to a day low of Rs 37.75. The share price closed at 38.00.

Founded by Shri O.P Jindal in the year 1970, Jindal Stainless Limited is one of the largest stainless steel conglomerates in India. It ranks amongst the top 10 stainless steel conglomerates in the world. JSL is not only the magnitude of operations that determines its credibility and name, but it remains inspired by the vision for innovation as well as enriching lives. Jindal Stainless Group has an annual crude steel capacity of 1.8 MTPA and the group has an annual turnover of Rs 14,500 crores.

The stock hit an intra-day high of Rs 40.80 on the NSE. Over 2,12,565 shares traded on the NSE counter as compared to 206168 which is the average volume of 20 days. The scrip opened at Rs 40.80 from the previous closing of Rs 40.20.

JSL Quarterly Results- Standalone Income Statement (in Cr.):

 

Out of the Top 500 Shares, JSL is one of the top 500 Shares, recognized by Dynamic Levels Researchers and Stock analysts. According to Dynamic Levels Research team, the stock can be a good investment opportunity and can give you good returns. JSL is a well analyzed stock, based on technical and fundamental research.

In order to acquire further details on the support and resistance refer to JSL share price forecast. Here, you will also come across other fundamentals and financials of the stock.

 

JSL Share Price Surges Over 8%, Reports Better Q2

On 23^rd November, JSL posted its results for the September quarter of the current financial year. The company posted a narrowed net loss as compared to the same quarter in the previous financial year. JSL’s Q2FY17 net loss stood at 650 million Rupees, while in the corresponding quarter last year it had been 1.23 billion Rupees.

At 11:30 AM, JSL share price was trading at Rs. 37.35, up by 6.87 per cent on the improved Q2 result.

The company’s total income from operations also went up to 20.78 billion Rupees as compared to 16.52 billion Rupees in the equivalent quarter last financial year. In the year on year comparison, EBITDA, at Rs. 234 crores grew by 62 per cent while on Quarterly basis it grew 7 per cent. Gross revenue of JSL grew by 26 per cent on the yearly basis.  Stainless Steel sales volume went up 34 per cent on the yearly basis, while it surged 1 per cent Quarter on Quarter. Year on Year, Stainless Steel production volume went up by 35%, while on Quarterly basis it increased by 7 per cent.

JSL share price today opened at Rs. 35.90, above its previous close of Rs. 34.95. In the early morning trade, the stock surged by almost 8 per cent to trade at the so far intraday high of Rs. 37.70.

Also, Jindal Stainless may be interested in bidding for Salem Steel Plant of Steel Authority of India Ltd (SAIL)’s. Salem Steel Plant in Tamil Nadu and the Visesvaraya Iron and Steel Plant in Karnataka are among the firms identified by Narendra Modi government for divestment.  The aim is to make the two loss-making units profitable. Both the plants are owned by SAIL.

JSL is the top 500 recommended stock for the quarter by Dynamic Levels. For the details on Jindal Stainless, visit JSL share price history page of Dynamic Levels website.

JSL soars on the transfer of its land by IDCO Odisha

Today, Jindal Stainless Ltd announced that Odisha Industrial Infrastructure Development Corporation (IDCO) has signaled green to the transfer of its land to Jindal United Steel Ltd (JUSL) and Jindal Coke Ltd (JCL).

The news has led JSL share price to a ride of the rise of 6%

The company has received approval from IDCO, dated September 24, 2016, conveying that it has no objection for implementing the transfer and the right to use the land on which the Hot Strip Mill and the Coke Plant of the company are located to JUSL and JCL, respectively. Last year, JSL demerged its operations into three different entities which were listed as Jindal Stainless (Hisar) Ltd (JSHL), JUSL and JCL.  Among them, JUSL and JCL are the private companies.

Currently, JSL share price is trading at Rs. 25.80 with a rise of a little over 5%.

JSL had reported narrowing of its net loss to Rs 65 crore for the quarter ended June 30, as against a net loss of Rs 138 crore in the year-ago period. Its total income went up 29 per cent to Rs 2,126 crore in the April-June quarter this financial year, from Rs 1,652 crore during the corresponding quarter last year. The company also declared 11 per cent growth in stainless steel production at 1.73 lakh tons (LT) in the June quarter this financial year from 1.56 LT a year ago.

In today’s trade, JSL share price opened at Rs. 26 against its previous day’s close of Rs. 24.55. So far, the traded volume of JSL stands at 4,41,239 as compared to its average traded volume of 177286 for 20 days. JSL is the top 500 pick by Dynamic Levels for the quarter with the market cap of 1393.84 crores as of today with 37.27% promoter holding pledged. For the details on the support and resistance levels of JSL, visit JSL share price forecast page of Dynamic Levels website.