Jindal Steel shares in focus after winning Saradhapur Jalatap East coal block

Jindal Steel & Power (JSPL) shares will be in focus on Friday after the company secured the Saradhapur Jalatap East coal block in the latest commercial coal auctions conducted by the Ministry of Coal.

The mine, with an estimated reserve of 3,257 million tonnes, is located just 11 km from JSPL’s Angul steel plant, making it a key asset for the company.

JSPL won the block with a revenue-sharing bid of 10%, reducing its dependence on external coal supplies and ensuring a stable flow of raw materials for its steel production. The acquisition strengthens the company’s backward integration strategy, helping mitigate risks related to supply chain disruptions and price volatility.


By securing long-term fuel supply, JSPL is enhancing its operational efficiency while reinforcing its commitment to the "Aatmanirbhar Bharat" initiative, aligning with the government’s vision for self-reliance in critical industries.

Also Read: 10 BSE 500 stocks that can rally 70-210% in the next 12 months

Jindal Steel and Power shares target price

As per Trendlyne data, the average target price of the stock is Rs 974, which shows an upside of 6% from the current market prices. The consensus recommendation from 26 analysts for the stock is a 'Buy'.

Technically, the stock’s Relative Strength Index (RSI) stands at 57.7—a reading below 30 suggests oversold conditions, while above 70 indicates overbought levels. The Moving Average Convergence Divergence (MACD) is at 13, positioned above its center line but below the signal line.

JSPL shares are currently trading above their 5-day, 10-day, 20-day, 30-day, 50-day, and 100-day simple moving averages (SMAs) but remain below the 150-day and 200-day SMAs.

Also Read: Stocks in news: Jindal Stainless, Asian Paints, CG Power, Bharat Forge, Samavardhana Motherson

Jindal Steel and Power shares performance

On Thursday, Jindal Steel shares closed at Rs 915.4 on the BSE, up 1.8%, while the benchmark Sensex gained 0.41%. The stock has dropped 11% in the last six months but has surged 70% in the past two years. The company’s market capitalization stands at Rs 93,384 crore.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)