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Motilal Oswal is bullish on Jindal Steel and Power recommended buy rating on the stock with a target price of Rs 790 in its research report dated September 28, 2023.

Buy Jindal Steel and Power; target of Rs 790: Motilal Oswal

“JSP plans to incur a significant capex for capacity expansion and strengthen raw material integration and product enrichment. This planned capex could result in volume growth and a reduction in structural costs,” the financial services firm said.

Jindal Steel and Power gains 2% after Motilal Oswal reaffirms ‘buy’ rating

Naveen Jindal's term of appointment as executive director and chairman is due to end on September 30, 2023.

Jindal Steel and Power declines 1% as Naveen Jindal takes on non-executive chairman post

Kant also sounded caution on the banking sector, where he sees an uptick in bad loans as the below-par monsoon hit rural incomes. Low corporate demand is also hurting their financials.

Contra view: Pharma overvalued sector now, says Dharmesh Kant

BSE Metal index touched a high of 23284 points on September 4, surging nearly 3.5 percent intraday. Since the last 11 sessions, the index advanced over 10 percent

BSE Metal Index reaches 17-month high on Chinese policies and domestic price hikes

Jindal Steel & Power Ltd is up for a third straight session in a row. The stock is quoting at Rs 708.4, up 1.04% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.36% on the day, quoting at 19505.65. The Sensex is at 65554.17, up 0.26%. Jindal Steel & Power Ltd has gained around 7.75% in last one month. Meanwhile, Nifty Media index of which Jindal Steel & Power Ltd is a constituent, has gained around 5.62% in last one month and is currently quoting at 6851, up 2.1% on the day. The volume in the stock stood at 18.26 lakh shares today, compared to the daily average of 23.93 lakh shares in last one month. The benchmark September futures contract for the stock is quoting at Rs 711.2, up 0.77%  on the day. Jindal Steel & Power Ltd is up 66.43% in last one year as compared to a 10.41% jump in NIFTY and a 16.85% jump in the Nifty Media index.The PE of the stock is 12.58 based on TTM earnings ending June 23.

Jindal Steel & Power Ltd soars 1.04%, rises for third straight session

ICICI Securities is bullish on Jindal Steel and Power recommended buy rating on the stock with a target price of Rs 810 in its research report dated August 13, 2023.

Buy Jindal Steel and Power; target of Rs 810: ICICI Securities

Total revenue from operations fell 4.2% to Rs 12,310.57 crore in Q1 FY24 as compared with Rs 12,848.52 crore in Q1 FY23.Gross revenue (including GST and other income) declined 2.34% to Rs 14,220 crore in Q1 FY24 as compared with Rs 14,561 crore in Q1 FY23.Adjusted EBITDA stood at Rs 2,665 crore during the quarter, was down 4.69% as compared with Rs 2,796 crore posted in same quarter last year. Adjustment were on account of FX loss of Rs 12 crore in Q1FY24.During the quarter steel maker reported sales of steel (including pig iron) at 1.84 mt (up 5.75% YoY). The company reported production of steel (including pig iron) at 2.04 Mt during the quarter, which was 2.51% higher YoY.In Q1 FY24 pellet production stood at 1.72 mt (down 10.42% YoY). External pellets sales declined 66.67% to 0.01 mt (as compared with 0.03 mt in Q1 FY23).Chirodzi mine in Mozambique produced 1.12mt in Q1 FY24 vs 0.98mt ROM in Q4FY23 (up 14% qoq) during the quarter. Coking coal sales stood at 142kt versus 160kt in Q4FY23. Thermal coal sales stood at 105kt vs 158kt in Q4FY23.During the quarter, Kiepersol mine in South Africa has produced 116kt as against 115kt ROM in Q4FY23. The mine reported prime product sales of 87kt versus 90 kt in 4QFY23.During the quarter, Russel Vale mines in Australia ROM production stood at 132kt vs 157 kt in Q4FY23. Dispatches for the quarter were 91kt vs 123 kt in Q4FY23. Wongawilli colliery continues to remain under care and maintenance.Jindal Steel Odisha (JSO), a wholly owned subsidiary of JSP, successfully commissioned its state-of-the-art pellet plant at Angul. This is a first in a series of units that will be commissioned over the next two years as JSP moves forward to double the steel production capacity at Angul.Bimlendra Jha, managing director, said, “We have now achieved a significant milestone of successfully commissioning our state-of-the-art pellet plant at Angul. We have also signed mining lease for two thermal coal mines Gare Palma IV6 and Utkal C, which will lead to consistent availability of coal for our thermal coal requirements in DRI Kilns, Coal Gasification and Power Plants at lower costs.”Jindal Steel & Power (JSPL) is a leading Indian infrastructure conglomerate with a presence in the steel, power, and mining sectors.

JSPL slides after Q1 PAT drops 79% YoY to Rs 1399 cr 

Jindal Steel & Power Ltd fell 3.36% today to trade at Rs 674.95. The S&P BSE Metal index is down 1.66% to quote at 21513.96. The index is up 0.49 % over last one month. Among the other constituents of the index, National Aluminium Company Ltd decreased 2.94% and Hindalco Industries Ltd lost 2.82% on the day. The S&P BSE Metal index went up 11.82 % over last one year compared to the 9.14% surge in benchmark SENSEX. Jindal Steel & Power Ltd has added 5.25% over last one month compared to 0.49% gain in S&P BSE Metal index and 1.76% drop in the SENSEX. On the BSE, 43840 shares were traded in the counter so far compared with average daily volumes of 81075 shares in the past one month. The stock hit a record high of Rs 700 on 11 Aug 2023. The stock hit a 52-week low of Rs 377.05 on 23 Aug 2022.

Jindal Steel & Power Ltd Slides 3.36%, S&P BSE Metal index Shed 1.66%

Bloomberg consensus had estimated JSPL's net profit of Rs 688.7 crore for Q1FY24.

JSPL Q1 Results: Net profit drops 14% to Rs 1,686 crore but beats estimates

Jindal Steel & Power Ltd. engages in the manufacturing of Iron & steel products and generation of power. It operates through the following business segment: Iron and Steel Products, Power, and Others. The Iron and steel Products segment consists of manufacturing of Steel products, sponge iron, pellets, and castings. The Power segment involves in the business of power generation. The Others segment focuses mainly on aviation, machinery division, and real estate. The company was founded by Om Parkash Jindal on September 28, 1979 and is headquartered in New Delhi, India.

Watchers	193
52-Wk Low	417.30
52-Wk High	722.80

Market Cap	695.55B
Volume (M)	1.42M
52-Wk High	722.80
52-Wk Low	417.30

JINDALSTEL.NSE Jindal Steel & Power Ltd.

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