Jindal Stainless Ltd. is one of India’s largest stainless steel conglomerates. It is the largest manufacturer of stainless steel in 200, 300, 400 and duplex stainless steel products. The company was founded in 1970 by Shri O P Jindal. At the end of the June 2022 quarter, Jindal Stainless Ltd. posted a total income of Rs 5,490.91 crore, down 16.59% from the total income recorded in the March 2022 quarter. On 30 August 2022, the company’s market capitalisation stood at Rs 6,726 crore.
The company is listed on the Bombay Stock Exchange with the code 532508, and on the National Stock Exchange with the code JSL.
Jindal Stainless Ltd.’s product portfolio includes blooms, slabs, sheets, plates, blade steel, coin blanks, and precision strips made from stainless steel.
As per the company’s shareholding pattern on 30 June 2022, there was a foreign institutional investor stake of 13.77%, a domestic institutional investor stake of 5.85%, a public stake of 10.28%, and a promoter stake of 70.1%. In the June 2022 quarter, promoters unpledged 0.25% of shares, bringing the total pledge of promoter holdings to 78.07%. Promoter holdings increased from 69.87% to 70.10%, while mutual fund holdings decreased from 2.68% to 2.28%.
Jindal Stainless Ltd.’s top management comprises Mr Abhyuday Jindal, Mr Ratan Jindal, Mr Tarun Kumar Khulbe, Mr Jayaram Easwaran, Mr Parveen Kumar Malhotra, Ms Bhaswati Mukherjee, Ms Suman Jyoti Khaitan, Mrs Savitri Devi Jindal, and Mrs Arti Luniya. The company has Walker Chandiok & Co. LLP as its auditors. On 30 June 2022, the company’s total outstanding shares were 52.55 crores.
On 30 August 2022, the company’s share price closed at Rs 127.95 on BSE. Jindal Stainless Ltd’s share price closed at Rs 128 on NSE. The 52-week high for the company’s share price was Rs 224.40, and the 52-week low share price for Jindal Stainless Ltd. was Rs 95.05. The share’s one-year return to its investors was -15.29%.
The company’s peers include JSW Steel Ltd., Tata Steel Ltd., Hindalco Industries Ltd., and Jindal Steel & Power Ltd.
In August 2022, SBI Credit Risk Fund had a 2.95% stake in Jindal Stainless Ltd. SBI Magnum Income Fund had a 2.85% stake, and SBI Magnum Medium Duration Fund had a 2.52% stake.
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Jindal Stainless share price as on 30 Jun 2024 is Rs. 822.5. Over the past 6 months, the Jindal Stainless share price has increased by 47.06% and in the last one year, it has increased by 147.11%. The 52-week low for Jindal Stainless share price was Rs. 326 and 52-week high was Rs. 841.
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