Buy Jindal Steel & Power, target price Rs 750: ICICI Securities
Promoters held 61.2 per cent stake in the company as of 31-Dec-2022, while FIIs owned 13.13 per cent, DIIs 14.15 per cent.
By ETMarkets.com | Updated:
Agencies
ICICI Securities has buy call on Jindal Steel & Power with a target price of Rs 750. The current market price of Jindal Steel & Power is Rs 614.
Jindal Steel & Power, incorporated in the year 1979, is a Mid Cap company (having a market cap of Rs 62194.77 Crore) operating in Metals - Ferrous sector.
Jindal Steel & Power key Products/Revenue Segments include Iron & Steel Items, Export Incentives, Other Operating Revenue and Scrap for the year ending 31-Mar-2022.
Financials
For the quarter ended 30-09-2022, the company has reported a Consolidated Total Income of Rs 13521.88 Crore, up 3.46 % from last quarter Total Income of Rs 13069.17 Crore and down -.69 % from last year same quarter Total Income of Rs 13615.49 Crore. Company has reported net profit after tax of Rs 219.29 Crore in latest quarter.
The company’s top management includes Mrs.Savitri Jindal, Mrs.Shivani Wazir Pasrich, Mr.Sunjay Kapur, Dr.Bhaskar Chatterjee, Mr.Sunil Kumar Agrawal, Mr.Ramaswamy Ramkumar, Mr.D K Saraogi, Mr.Bimlendra Jha, Mr.Naveen Jindal, Ms.Kanika Agnihotri. Company has Lodha & Co. as its auditors. As on 31-12-2022, the company has a total of 102 Crore shares outstanding.
Investment Rationale
Going ahead, the brokerage expects JSPL to fare better than peers due to longs prices faring better than flats, ensuing cost efficiencies and lower leverage.
Promoter/FII Holdings
Promoters held 61.2 per cent stake in the company as of 31-Dec-2022, while FIIs owned 13.13 per cent, DIIs 14.15 per cent.
Jindal Steel & Power, incorporated in the year 1979, is a Mid Cap company (having a market cap of Rs 62194.77 Crore) operating in Metals - Ferrous sector.
Jindal Steel & Power key Products/Revenue Segments include Iron & Steel Items, Export Incentives, Other Operating Revenue and Scrap for the year ending 31-Mar-2022.
Financials
For the quarter ended 30-09-2022, the company has reported a Consolidated Total Income of Rs 13521.88 Crore, up 3.46 % from last quarter Total Income of Rs 13069.17 Crore and down -.69 % from last year same quarter Total Income of Rs 13615.49 Crore. Company has reported net profit after tax of Rs 219.29 Crore in latest quarter.
The company’s top management includes Mrs.Savitri Jindal, Mrs.Shivani Wazir Pasrich, Mr.Sunjay Kapur, Dr.Bhaskar Chatterjee, Mr.Sunil Kumar Agrawal, Mr.Ramaswamy Ramkumar, Mr.D K Saraogi, Mr.Bimlendra Jha, Mr.Naveen Jindal, Ms.Kanika Agnihotri. Company has Lodha & Co. as its auditors. As on 31-12-2022, the company has a total of 102 Crore shares outstanding.
ADVERTISEMENT
Investment Rationale
Going ahead, the brokerage expects JSPL to fare better than peers due to longs prices faring better than flats, ensuing cost efficiencies and lower leverage.
Promoter/FII Holdings
Promoters held 61.2 per cent stake in the company as of 31-Dec-2022, while FIIs owned 13.13 per cent, DIIs 14.15 per cent.
Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
Bookmark or read stories offline -
Download ET Markets APP
Download ET Markets APP
ADVERTISEMENT
