Buy Jindal Steel & Power, target price Rs 590: Axis Securities

Axis Securities has buy call on Jindal Steel & Power with a target price of Rs 590. The current market price of Jindal Steel & Power is Rs 518.5. Time period given by analyst is 4 weeks when Jindal Steel & Power Ltd. price can reach defined target.

Jindal Steel & Power Ltd., incorporated in the year 1979, is a Mid Cap company (having a market cap of Rs 54028.97 Crore) operating in Metals - Ferrous sector.

Jindal Steel & Power Ltd. key Products/Revenue Segments include Iron & Steel Items, Power, Other Sales, Other Operating Revenue, Export Incentives, Scrap for the year ending 31-Mar-2021.



Financials
For the quarter ended 31-12-2021, the company reported a Consolidated Total Income of Rs 12535.35 Crore, down -7.93 % from last quarter Total Income of Rs 13615.49 Crore and up 15.02 % from last year same quarter Total Income of Rs 10898.70 Crore. Company reported net profit after tax of Rs 1866.10 Crore in latest quarter.



Promoter/FII Holdings
Promoters held 60.44 per cent stake in the company as of 31-Dec-2021, while FIIs owned 8.93 per cent, DIIs 16.71 per cent.