Buy Jindal Steel & Power, target price Rs 810: ICICI Securities

ICICI Securities has buy call on Jindal Steel & Power with a target price of Rs 810. The current market price of Jindal Steel & Power Ltd. is Rs 680.45.

Jindal Steel & Power Ltd., incorporated in the year 1979, is a Mid Cap company (having a market cap of Rs 69095.67 Crore) operating in Metals - Ferrous sector.

Jindal Steel & Power Ltd. 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 30-06-2023, the company reported a Consolidated Total Income of Rs 12643.63 Crore, down -7.76 % from last quarter Total Income of Rs 13707.69 Crore and down -3.26 % from last year same quarter Total Income of Rs 13069.17 Crore. Company reported net profit after tax of Rs 1691.97 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 61.2 per cent stake in the company as of 30-Jun-2023, while FIIs owned 12.71 per cent, DIIs 14.72 per cent.