Buy Jindal Stainless, target price Rs 173: ICICI Direct

 ICICI Direct has buy turn Jindal Stainless with a target price of Rs 173. the present market value of Jindal Stainless is Rs 153.5. period of time given by analyst is 2 week when Jindal Stainless price can reach defined target.

Stock Market
Google images

Jindal Stainless Ltd., incorporated within the year 1980, may be a Small Cap company (having a market cap of Rs 7681.25 Crore) operating in Metals - Ferrous sector.


For the quarter ended 30-06-2021, the corporate reported a Consolidated Total Income of Rs 4042.32 Crore, up 2.95 to stand proud of half-moon Total Income of Rs 3926.30 Crore and up 191.68 to stand proud of last year same quarter Total Income of Rs 1385.87 Crore. Company reported net income after tax of Rs 281.68 Crore in latest quarter.

Investment Rationale

The Metal space is in strong up trend and is seen resuming fresh up move after two months of breather.The share price of JSL has resumed its uptrend after taking support at 50% retracement of recent up move Rs 119-166 signalling resumption of up move and offers fresh entry opportunity

Stock Market

Going ahead the brokerage expects it continue with its positive momentum and head towards Rs 173 levels within the coming weeks because it is that the 138.2 percent external retracement of recent breather (Rs 166-144) signalling upside in coming sessions.

Promoter/FII Holdings

Promoters held 68.1 per cent stake within the company as of Sept 30, 2020, while FIIs held 13 per cent, DIIs 7.1 per cent and public et al. 11.9 per cent.

Post a Comment