Kotak Securities has buy call on & Power with a target price of Rs 467. The current market price of Jindal Steel & . is Rs 452.8 .
Jindal Steel & Power Ltd., incorporated in the year 1979, is a Mid Cap company (having a market cap of Rs 46209.99 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 30-06-2022, the company reported a Consolidated Total Income of Rs 13069.17 Crore, down -8.87 % from last quarter Total Income of Rs 14341.91 Crore and up 22.79 % from last year same quarter Total Income of Rs 10643.17 Crore. Company reported net profit after tax of Rs 2770.92 Crore in latest quarter.
Investment Rationale
It is trading into a rising channel pattern with a higher-high and higher-low formation
Promoter/FII Holdings
Promoters held 60.44 per cent stake in the company as of 30-Jun-2022, while FIIs owned 10.65 per cent, DIIs 15.75 per cent.
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