Trending stocks: Jindal Steel & Power shares down over 3%

NEW DELHI: Shares of Jindal Steel & Power Ltd. traded 3.19 per cent down in Wednesday's trade at 10:53AM (IST). Around 535,112 shares changed hands on the counter.

The counter opened at Rs 163.45 and touched an intraday high and low of Rs 163.45 and Rs 155.35, respectively, in the session so far. Shares of the company of Jindal Steel & Power Ltd. quoted a 52-week high of Rs 202.4 and a 52-week low of Rs 62.1.

Total market cap of the Jindal Steel & Power Ltd. stood at Rs 15968.35 crore at the time of writing this report.


Jindal Steel and Power (JSPL) said it will offload its entire stake in Oman-based subsidiary for over USD 1 billion (about Rs 7,500 crore).


Key Financials
The company reported consolidated sales of Rs 8810.68 crore for the quarter ended 31-Mar-2020, down 5.26 per cent from previous quarter's Rs 9299.78 crore and down 13.27 per cent from the year-ago quarter's Rs 10158.95 crore.

Shareholding pattern
As of 31-Mar-2020, domestic institutional investors held 6.96 per cent stake in the company, while foreign institutional investors held 13.4 per cent and the promoters 53.77 per cent.


Valuation ratio
According to BSE data, the stock traded at a P/E multiple of -146.31 and a price-to-book ratio of 0.51. 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.

Jindal Steel & Power Ltd. belongs to the Steel - Integrated industry.