JINDAL STEEL & POWER plunges by 5%; BSE METAL Index Down 3.2%

JINDAL STEEL & POWER share price has plunged 5% and is presently trading at Rs 202.

Meanwhile, the BSE METAL Index is at 12,320 (Down 3.2%).

Among the top losers in the BSE METAL Index today are JINDAL STEEL & POWER (down 5.00%) and TATA STEEL(down 5.64%)

Over the last one year, JINDAL STEEL & POWER has moved up from Rs 142 to Rs 202, registering a gain of Rs 61 (up 42.94%).

The BSE METAL has moved up from 12,079 to 12,320, registering a gain of 241 points (up 2.00%) during the last 12 months.

The top gainers among the BSE METAL Index stocks during this same period were JSW STEEL (up 38.50%), JINDAL STEEL & POWER (up 33.44%) and SAIL (up 13.45%).

What About the Benchmark Indices?

The BSE Sensex is at 36,748 (down 0.19%). The top gainers among the BSE Sensex stocks today are ONGC (up 4.39%), HDFC BANK (up 1.48%) and BAJAJ AUTO (up 1.30%). Other gainers include HDFC (up 1.26%) and ASIAN PAINTS (up 0.85%). The most traded stocks in the BSE Sensex are ONGC and SUN PHARMA.

In the meantime, NSE Nifty is at 11,076 (down 0.22%). INDIABULLS HOU. FIN. (up 3.85%) and ONGC (up 3.78%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved up from 32,075 to 36,748, registering a gain of 4,673 points (up 13.64%).

JINDAL STEEL & POWER Financial Update...

JINDAL STEEL & POWER net profit declined 217.1% YoY to Rs 4 billion for the quarter ended March 2018, compared to a loss of Rs 4 billion a year ago. Net Sales rose 23.0% to Rs 86.0 billion during the period as against Rs 69.9 billion in January-March 2017.

For the year ended March 2017, JINDAL STEEL & POWER reported 23.9% decrease in net profit to Rs 21.7 billion compared to net profit of Rs 28.5 billion during FY16.

Revenue of the company grew 11.4% to Rs 227 billion during FY17.

The current Price to earnings ratio of JINDAL STEEL & POWER, based on rolling 12 month earnings, stands at down 17.6x.

This article was originally published in English at www.equitymaster.com

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