If You Invested ₹10,000 In This Jindal Stock A Year Ago, Here's How Much You'd Have Today
Take Stock Of The Week Ahead

Get all the latest Share Market trends and news to set you up for the week ahead.

Congratulations!
You have successfully subscribed.

Jindal Stainless’ share price continued to make gains for the fifth consecutive session on Monday as the stock went up over 1.5% to hit a new 52-week high of ₹400.75.

The Investment: On 1st August 2022, Jindal Stainless was trading at ₹121 per share. Fast forward to today, the stock has hit a new 52-week high and is valued at ₹400.75. This means that an investment of ₹10,000 would have bought around 82 shares a year ago. Today, those 82 shares would be worth about ₹32,861.5, marking a significant increase in value.

Background: The company’s posted its June quarter earnings report last week. The stainless-steel manufacturer’s profit rose to ₹737.6 crore in the June quarter, a 45% increase compared to the same period last year, beating analysts’ estimates. Revenue was up 25% to ₹10,184 crore, while EBITDA margin was at 11.71%.

Domestic brokerage firm ICICI Securities was also impressed by the company’s performance in the June quarter. The firm maintained its “buy” rating on the stock raising the price target to ₹455 from ₹390.

Price Action: JSL’s share price was up 1.30% to trade at ₹398.90 in the late hours of trading on Monday.

Disclaimer: This article is for educational purposes alone and does not constitute financial advice.

Editor’s Note: Artificial intelligence was used as a secondary aid in the writing of this story.

Read Next: Why This Jhunjhunwala Backed Large Cap Stock Is Volatile Today Even As Profits Grew 35% In Q1

Don't miss a beat on the share market. Get real-time updates on top stock movers and trading ideas on Benzinga India Telegram channel.

Comments
Loading...
EducationGeneralJindal Stainless