Jindal Stainless is currently trading at Rs. 40.55, up by 0.80 points or 2.01% from its previous closing of Rs. 39.75 on the BSE.
The scrip opened at Rs. 40.40 and has touched a high and low of Rs. 41.00 and Rs. 40.30 respectively. So far 30567 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 47.25 on 10-Jan-2020 and a 52 week low of Rs. 26.80 on 22-Aug-2019.
Last one week high and low of the scrip stood at Rs. 42.80 and Rs. 38.45 respectively. The current market cap of the company is Rs. 1992.79 crore.
The promoters holding in the company stood at 68.11%, while Institutions and Non-Institutions held 19.34% and 12.37% respectively.
Kotak Special Situations Fund has invested Rs 500 crore in Jindal Stainless in form of debt and equity. The investment will help Jindal Stainless to come out of the corporate debt restructuring (CDR) process and repay its loans and debt obligations to banks.
Under the transaction, the fund has purchased equity shares from lenders of Jindal Stainless and invested in debentures of the company to repay the optionally convertible redeemable preference shares and recompense due to lenders as part of the CDR package.
Jindal Stainless is one of the largest stainless steel conglomerates in India and ranks amongst the top 10 stainless steel conglomerates in the world.
