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Jindal Steel & Power trades higher on the bourses

Jindal Steel Ltd. | Steel/Sponge Iron/Pig Iron | Metals & Mining | BSE: 532286 | NSE: JINDALSTEL

07 Feb 2012 Evaluate

Jindal Steel & Power is currently trading at Rs 586.80, up by 12.05 points or 2.10% from its previous closing of Rs 574.75 on the BSE.

The scrip opened at Rs 582.30 and has touched a high and low of Rs 590.00 and Rs 575.00 respectively. So far 1,22,000 shares were traded on the counter.

The BSE group 'A' stock of face value Re 1 has touched a 52 week high of Rs 723.50 on 06-Apr-2011 and a 52 week low of Rs 435.55 on 29-Dec-2011.

Last one week high and low of the scrip stood at Rs 590.00 and Rs 519.90 respectively. The current market cap of the company is Rs. 54,856.00 crore.

The promoters holding in the company stood at 58.58% while Institutions and Non-Institutions held 29.09% and 12.33% respectively.

Jindal Steel and Power is planning to set up steel units, a sponge iron plant and an iron ore pellet plant as part of an integrated facility in Bolivia. In this regard, the company will invest $600 million in the current year. The company expects to sign a gas supply agreement with the local government authorities by next month for its upcoming integrated facilities.

Earlier in 2007, Jindal Steel Bolivia -- a JSPL subsidiary -- had secured 40-year development rights to the El-Mutun iron ore mine, which holds reserves of around 20 billion tonne. The mines are considered to be one of the largest untapped iron ore deposits in the world.

The company also inked an agreement with the Bolivian government to set up an integrated 1.7 million tonne per annum (mtpa) steel plant, a 6-mtpa sponge iron and a 10-mtpa iron ore pellet plant in the country at an investment of $2.1 billion.

Nevertheless, the Bolivian government has claimed that the company has paid only 2% of its commitment of $600 million in two years and consequently, the authorities have seized $18 million provided as guarantees by the company for the project.

On consolidated basis, the group has posted a net profit of Rs 996.68 crore for the quarter ended December 2011, up 6.55% from Rs 935.43 crore in the corresponding year-ago period. Its total income has increased by 38.25% to Rs 4,400.26 crore for the quarter under review from Rs 3,182.70 crore for the similar quarter of the previous year.

Jindal Steel Share Price

1269.50 45.65 (3.73%)

17-Apr-2026 16:59 View Price Chart

Peers

Company Name	CMP
Jindal Steel	1269.50
Lloyds Metals&Energy	1622.70
Jai Balaji Inds	72.59
Steel Exchange India	8.96
Rajputana Stainless	125.90
View more..

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