Buy Jindal Steel & Power, target price Rs 985: ICICI Securities

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-2023.

By ETMarkets.com | Updated: Apr 22, 2024, 09.27 AM IST

Promoters held 61.2 per cent stake in the company as of 31-Mar-2024, while FIIs owned 11.93 per cent, DIIs 14.72 per cent.

ICICI Securities has buy call on Jindal Steel & Power with a target price of Rs 985. The current market price of Jindal Steel & Power is Rs 936.25.

Jindal Steel & Power Ltd., incorporated in the year 1979, is a Mid Cap company (having a market cap of Rs 94587.67 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-2023.

Financials
For the quarter ended 31-12-2023, the company reported a Consolidated Total Income of Rs 11736.40 Crore, down -4.44 % from last quarter Total Income of Rs 12282.04 Crore and down -5.88 % from last year same quarter Total Income of Rs 12469.50 Crore. Company reported net profit after tax of Rs 1927.87 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 61.2 per cent stake in the company as of 31-Mar-2024, while FIIs owned 11.93 per cent, DIIs 14.72 per cent.

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