Jindal Steel & Power Ltd: A Comprehensive Stock ReviewJINDALSTEL
Jindal Steel & Power Ltd is a significant player in the Indian steel and energy sector. With a market capitalization of ₹1,02,606 crore, the company has shown steady growth over the years, making it a stock worth monitoring.
Key Financial Indicators
Let’s take a closer look at the core financial metrics:
Market Cap: ₹1,02,606 Cr.
Current Price: ₹1,006
52-Week High/Low: ₹1,097 / ₹582
Stock P/E: 18.4 – Indicates that the stock is priced at 18.4 times its earnings.
Book Value: ₹434 – This represents the company's net asset value per share.
Dividend Yield: 0.20% – A modest return for income-seeking investors.
ROCE (Return on Capital Employed): 13.2% – Measures how efficiently the company is generating profit from its capital.
ROE (Return on Equity): 14.1% – Indicates the profitability relative to shareholders’ equity.
Promoter Holding: 61.2% – Strong promoter interest, with a slight increase of 0.74% in the last 3 years.
Pledged Percentage: 13% – A part of promoter's holding is pledged.
Technical Analysis Overview
From a technical standpoint, Jindal Steel & Power Ltd is showing promising levels for those tracking its price movements.
Current Level: Rs. 1,006
Potential Upside: Watch for movements above the ₹1,015 range. This level could indicate further momentum.
On the downside, the stock may revisit:
₹902
₹577
₹304
These levels offer potential opportunities for strategic entry points based on individual preferences.
Potential Targets for Swing Trading
If the stock breaks key levels, potential targets to watch include:
First Target: ₹1,413
Second Target: ₹1,726
Third Target: ₹1,943
Extended Target: ₹2,236++
These target levels make Jindal Steel & Power Ltd an interesting candidate for swing trading.
While Jindal Steel & Power Ltd presents a solid case with favorable financials and technical signals, investors should conduct their own research before making any decisions. Given the company's strong promoter backing and reasonable P/E ratio, it could appeal to both long-term investors and swing traders.
Disclaimer: We are not SEBI-registered advisors. The information provided is for educational purposes only, and readers should take care when using it for any investment decisions.
