Buy Jindal Stainless, target price Rs 202: ICICI Direct

ICICI Direct has buy call on Jindal Stainless with a target price of Rs 202. The current market price of Jindal Stainless Ltd. is Rs 172. Time period given by analyst is 3 months when Jindal Stainless Ltd. price can reach defined target.

Jindal Stainless Ltd., incorporated in the year 1980, is a Small Cap company (having a market cap of Rs 8688.62 Crore) operating in Metals - Ferrous sector.

Jindal Stainless Ltd. key Products/Revenue Segments include Steel, Job Work, Sale of services, Export Incentives, Other Operating Revenue and Gases for the year ending 31-Mar-2021.



Financials
For the quarter ended 30-09-2021, the company reported a Consolidated Total Income of Rs 5041.26 Crore, up 24.71 % from last quarter Total Income of Rs 4042.32 Crore and up 51.61 % from last year same quarter Total Income of Rs 3325.15 Crore. Company reported net profit after tax of Rs 385.32 Crore in latest quarter.

Investment Rationale
The brokerage expects, stock to endure its relative outperformance and gradually head towards its all time high of Rs 207 in the coming months

Promoter/FII Holdings
Promoters held 68.6 per cent stake in the company as of 30-Sep-2021, while FIIs owned 14.33 per cent, DIIs 6.63 per cent.