JSPL slips on defaulting interest payments on NCDs

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

06 Oct 2016 Evaluate

Jindal Steel and Power (JSPL) is currently trading at Rs. 80.25, down by 3.20 points or 3.83% from its previous closing of Rs. 83.45 on the BSE.

The scrip opened at Rs. 80.80 and has touched a high and low of Rs. 82.30 and Rs. 79.80 respectively. So far 11,43,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 98.10 on 31-Dec-2015 and a 52 week low of Rs. 48.20 on 12-Feb-2016.

Last one week high and low of the scrip stood at Rs. 86.00 and Rs. 74.00 respectively. The current market cap of the company is Rs. 7,337.00 crore.

The promoters holding in the company stood at 61.89%, while Institutions and Non-Institutions held 21.33% and 16.77% respectively.

JSPL, one of the largest players in steel market in India, has defaulted on interest repayments to its bondholders due on September 30, 2016. Those NCDs had a coupon rate of 9.8% with about two-10 year maturities with banks, provident funds believed to be the investors.

Earlier this year, rating agency Crisil had cut the company’s corporate debt rating to 'D', which is default category, from 'BB+'. According to the rating agency, company had a total outstanding debt of Rs 40000 crore, of which Rs 26,200 crore was in long-term instruments and Rs 13800 crore in short-term papers. In the quarter ended June 2016, the company's loss doubled to Rs 1082 crore from Rs 542 crore in the corresponding period last year.

JSPL is a part of Jindal Group and is a leading player in Steel, Power, Mining, Oil & Gas and Infrastructure. The company produces economical and efficient steel and power through backward integration from its own captive coal and iron-ore mines and passes on the benefits to its customers.

Jindal Steel Share Price

1264.35 4.30 (0.34%)

06-May-2026 16:59 View Price Chart

Peers

Company Name	CMP
Jindal Steel	1264.35
Lloyds Metals&Energy	1764.45
Jai Balaji Inds	83.91
Steel Exchange India	10.74
Rajputana Stainless	136.25
View more..

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