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    Buy Jindal Steel & Power, target price Rs 750: ICICI Securities

    Synopsis

    Jindal Steel & Power, incorporated in the year 1979, is a Mid Cap company (having a market cap of Rs 61592.92 Crore) operating in Metals - Ferrous sector.

    Jindal Steel and PowerET Bureau & Agencies
    In the ferrous space, JSPL remains the brokerage key pick owing to its longs-heavy product portfolios.
    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 601.85.

    Jindal Steel & Power, incorporated in the year 1979, is a Mid Cap company (having a market cap of Rs 61592.92 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
    In the ferrous space, JSPL remains the brokerage key pick owing to its longs-heavy product portfolios.

    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.



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    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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