Jindal Stainless rises on betting big on decorative pipes, tubes in eastern India

13 Nov 2020 Evaluate

Jindal Stainless is currently trading at Rs. 59.35, up by 0.10 points or 0.17% from its previous closing of Rs. 59.25 on the BSE.

The scrip opened at Rs. 59.25 and has touched a high and low of Rs. 59.80 and Rs. 58.60 respectively. So far 27669 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 63.15 on 30-Oct-2020 and a 52 week low of Rs. 22.30 on 24-Mar-2020.

Last one week high and low of the scrip stood at Rs. 61.00 and Rs. 58.00 respectively. The current market cap of the company is Rs. 2913.66 crore.

The promoters holding in the company stood at 68.12%, while Institutions and Non-Institutions held 20.03% and 11.84% respectively.

Jindal Stainless is betting big on decorative pipes and tubes in eastern India, even as the segment was expanding at a rate of 12-13 percent amid Covid induced disruptions. Out of the Rs 7,000 crore national market of decorative pipes and tubes, the eastern region accounts for Rs 1,000 crore a year. The company has embarked upon Phase 2 of its nationwide pipe & tube co-branding programme 'Jindal Saathi' as a strategy to increase its footprints.

Jindal Stainless is one of the largest stainless steel conglomerates in India and ranks amongst the top 10 stainless steel conglomerates in the world.

Jindal Stainless Share Price

694.90 -8.40 (-1.19%)
28-Mar-2024 16:01 View Price Chart
Peers
Company Name CMP
JSW Steel 832.45
Tata Steel 155.90
SAIL 134.15
Jindal Stainless 694.90
APL Apollo Tubes 1491.15
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