Buy Jindal Stainless, target price Rs 200: ICICI Direct

ICICI Direct has buy call on Jindal Stainless with a target price of Rs 200. The current market price of Jindal Stainless Ltd. is Rs 176.75.

Jindal Stainless Ltd., incorporated in the year 1980, is a Small Cap company (having a market cap of Rs 9248.72 Crore) operating in Metals - Ferrous sector.

Jindal Stainless Ltd. key Products/Revenue Segments include Steel, Sale of services, Export Incentives, Job Work and Other Operating Revenue for the year ending 31-Mar-2022.



Financials
For the quarter ended 30-09-2022, the company reported a Consolidated Total Income of Rs 5621.97 Crore, up 2.39 % from last quarter Total Income of Rs 5490.91 Crore and up 11.52 % from last year same quarter Total Income of Rs 5041.26 Crore. Company reported net profit after tax of Rs 151.84 Crore in latest quarter.



Promoter/FII Holdings
Promoters held 70.1 per cent stake in the company as of 30-Jun-2022, while FIIs owned 13.77 per cent, DIIs 5.85 per cent.