Opelina Finance and Investment, one of the promoter company of Jindal Steel and Power has increased its stake in the company by 0.17% to 8.42% for Rs 99.43 crore. Opelina Finance and Investment has picked up the additional stake through open market purchases in two days starting February 16.
Opelina used to hold 7,71,88,960 shares, or 8.25% stake, in JSPL before the transactions and now it has 7,87,33,960 shares, or 8.42% stake, in the company. It bought 7.67 lakh shares on February 16 for Rs 50.05 crore and again forked out Rs 49.38 crore to purchase an additional 7.78 lakh shares. As of December-end, promoters’ stake in JSPL stood at 58.58%.
On consolidated basis, Jindal Steel and Power 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 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.
