Buy Jindal Stainless, target price Rs 225: ICICI Direct

ICICI Direct has buy call on Jindal Stainless with a target price of Rs 225. The current market price of Jindal Stainless is Rs 163.15. Time period given by analyst is one year when Jindal Stainless Ltd. price can reach defined target.

Jindal Stainless Ltd., incorporated in the year 1980, is a Small Cap company (having a market cap of Rs 8738.99 Crore) operating in Metals - Ferrous sector.

Jindal Stainless Ltd. key Products/Revenue Segments include Steel, Job Work, Sale of services, Export Incentives, Other Operating Revenue and Gases for the year ending 31-Mar-2021.


Financials
For the quarter ended 31-03-2022, the company reported a Consolidated Total Income of Rs 6582.84 Crore, up 15.85 % from last quarter Total Income of Rs 5682.37 Crore and up 67.66 % from last year same quarter Total Income of Rs 3926.30 Crore. Company reported net profit after tax of Rs 749.88 Crore in latest quarter.


Investment Rationale
Jindal Stainless’ share price has given a return of ~84% in last 12 months (from ~Rs 90 in May 2021 to ~Rs 166 in May 2022). The brokerage maintains BUY rating on the stock

Promoter/FII Holdings
Promoters held 68.6 per cent stake in the company as of 30-Sep-2021, while FIIs owned 14.33 per cent, DIIs 6.63 per cent.