Jindal Steel & Power Ltd., incorporated in the year 1979, is a Mid Cap company (having a market cap of Rs 21170.43 Crore) operating in Metals - Ferrous sector.
By ETMarkets.com | Updated:
Agencies
Promoters held 60.5 per cent stake in the company as of Sept 30, 2020, while FIIs held 12.2 per cent, DIIs 13.7 per cent and public and others 13.6 per cent.
Motilal Oswal has given a buy rating to Jindal Steel & Power with a target price of Rs 261. The share price moved up by 2.22 per cent from its previous close of Rs 207.50. The stock’s last traded price is Rs 212.10.
Jindal Steel & Power Ltd., incorporated in the year 1979, is a Mid Cap company (having a market cap of Rs 21170.43 Crore) operating in Metals - Ferrous sector.
Financials For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 8989.79 Crore, down 3.11 % from last quarter Sales of Rs 9278.77 Crore and up .56 % from last year same quarter Sales of Rs 8939.47 Crore Company reported net profit after tax of Rs -706.49 Crore in latest quarter.
Investment Rationale The brokerage estimates average savings of ~INR750/t on 6mt coal, implying savings of INR4.5b/year. Assigning a 5x EBITDA multiple could potentially add INR22/sh (~8%) to the SOTP value for JSP at INR261/share. Promoter/FII Holdings Promoters held 60.5 per cent stake in the company as of Sept 30, 2020, while FIIs held 12.2 per cent, DIIs 13.7 per cent and public and others 13.6 per cent.
