Buy JSPL, target price Rs 378: Edelweiss

Edelweiss has buy call on Jindal Steel & Power with a target price of Rs 378. The current market price of Jindal Steel & Power Ltd. is Rs 302.35.

Jindal Steel & Power Ltd., incorporated in the year 1979, is a Mid Cap company (having a market cap of Rs 31447.09 Crore) operating in Metals - Ferrous sector.

Financials
For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 10898.70 Crore, up 19.28 % from last quarter Total Income of Rs 9137.43 Crore and up 17.19 % from last year same quarter Total Income of Rs 9299.82 Crore. Company reported net profit after tax of Rs 2566.68 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 60.48 per cent stake in the company as of March 31, 2020, while FIIs held 13.40 per cent, DIIs 12.35 per cent and public and others 13.77 per cent.