Buy Jindal Steel & Power, target price Rs 1240: ICICI Securities

ICICI Securities has buy call on Jindal Steel & Power with a target price of Rs 1240. The current market price of Jindal Steel & Power Ltd. is Rs 1024.6.

Jindal Steel & Power Ltd., incorporated in the year 1979, is a Mid Cap company (having a market cap of Rs 106084.06 Crore) operating in Metals - Ferrous sector.

Jindal Steel & Power Ltd. key Products/Revenue Segments include Iron & Steel Items, Other Operating Revenue, Scrap and Export Incentives for the year ending 31-Mar-2024.



Financials
For the quarter ended 30-06-2024, the company reported a Consolidated Total Income of Rs 13652.33 Crore, up .97 % from last quarter Total Income of Rs 13521.31 Crore and up 7.98 % from last year same quarter Total Income of Rs 12643.63 Crore. Company reported net profit after tax of Rs 1337.92 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 61.19 per cent stake in the company as of 30-Jun-2024, while FIIs owned 12.63 per cent, DIIs 15.33 per cent.