Shares of Jindal Stainless Ltd are in information at present after the agency reported a 120 % year-on-year (YoY) rise in web revenue for the quarter ended September 2023. The board of the corporate additionally declared an interim dividend of Rs 1 per fairness share (face worth of Rs 2 every) for FY24. The document date for figuring out the entitlement of members for the aim of fee has been set as October 28, 2023.
In the earlier session, Jindal Stainless inventory closed 3.31% decrease at Rs 448.30 on BSE. Market cap of the agency fell to Rs 36,914 crore. A complete of 0.72 lakh shares modified fingers amounting to a turnover of Rs 3.26 crore on BSE.
They hit a 52 week low of Rs 130.80 on October 20, 2022 and a 52 week excessive of Rs 541.45 on September 11, 2023. The inventory of the stainless-steel maker has gained 77.26% this 12 months and risen 231% within the final one 12 months.
In phrases of technicals, the relative energy index (RSI) of Jindal Stainless stands at 41.9, signaling it is buying and selling neither within the overbought nor within the oversold zone. Jindal Stainless inventory has a one-year beta of 0.6, indicating low volatility throughout the interval. Jindal Stainless shares are buying and selling decrease than the 5 day, 10 day, 20 day, 50 day however greater than the 100 day, 150 day and 200 day transferring averages.
Profit rose to Rs 764 crore in Q2 in opposition to a web revenue of Rs 347 crore in September 2022 quarter.
Jindal Stainless’ whole income stood at Rs 9,797 crore in Q2, up 12% in opposition to Rs 8,751 crore within the corresponding interval of the previous fiscal.
EBITDA climbed 80 % to Rs 1231 crore within the second quarter of this fiscal over Rs 685 crore within the corresponding interval within the earlier fiscal. Net debt within the quarter got here at Rs 2,149 crore and the web debt-to-equity ratio was maintained at 0.2, which is without doubt one of the greatest within the metallic section. Net debt/EBITDA for the quarter improved to 0.5, Jindal Stainless stated.
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