INSUBCONTINENT EXCLUSIVE:
SBICAP Securities has maintained its Buy rating on Jindal Steel - Power in the long term with a target price of Rs 225
The stock closed at Rs 179, up 1.9% on Monday while the BSE Sensex closed 416.46 points (0.99%) down at 41,528.91.
Company FinancialsFor the
quarter ended 31-12-2019, the company has reported consolidated sales of Rs 9299.78 crore
The company has reported net profit after tax of Rs -218.57 crore in the latest quarter
Mr.Ravikant Uppal, Mr.Ram Vinay Shahi, Mr.Rajeev Bhadauria, Mr.Naveen Jindal, Mr.Hardip Singh Wirk, Mr.Dinesh Kumar Saraogi, Mr.Arun Kumar
Purwar, Mr.Arun Kumar, Mrs.V C Mirunalini
As on 31-12-2019, the company has a total of 1,020,015,971 shares outstanding
Investment RationaleSBI Caps said global and domestic steel prices have surged since November 2019 on improving prospects of demand
globally and domestically which is expected to help Jindal
The company has also showcased its ability to strengthen its balance sheet by reducing debt and it continues to be on a deleveraging path
driven by the volume ramp-up.