Reduce Jindal Steel & Power, target price Rs 290: ICICI Securities

ICICI Securities has reduce call on Jindal Steel & Power with a target price of Rs 290. The current market price of Jindal Steel & Power is Rs 326.8. Time period given by analyst is one year 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 33321.18 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 31-03-2022, the company reported a Consolidated Total Income of Rs 14341.91 Crore, up 14.41 % from last quarter Total Income of Rs 12535.35 Crore and up 20.48 % from last year same quarter Total Income of Rs 11903.59 Crore. Company reported net profit after tax of Rs 2207.18 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 60.45 per cent stake in the company as of 31-Mar-2022, while FIIs owned 9.7 per cent, DIIs 17.34 per cent.