Buy Jindal Steel & Power: Kotak Securities's Target Price Rs 1110
Kotak Securities has maintained a bullish outlook on Jindal Steel & Power and has issued a buy recommendation for the stock on June 20. The current market price of the stock is Rs 1067, and the target price set by the brokerage firm is Rs 1110. This indicates a potential gain of approximately 4% for investors who follow this recommendation.
About Jindal Steel & Power:
Jindal Steel & Power (JSPL) is an Indian multinational steel and power company headquartered in New Delhi. It was founded in 1989 by Naveen Jindal. JSPL is one of the largest steel producers in India with an annual production capacity of 9.7 million tons. The company also has significant interests in the power sector, with a total capacity of over 4,000 MW. JSPL has operations in 12 countries across 4 continents. The company's products are used in various industries, including automotive, construction, and infrastructure. JSPL is listed on the National Stock Exchange of India (NSE) and the Bombay Stock Exchange (BSE).
52 Week Price Trend:
Jindal Steel & Power (JSPL) has witnessed a significant uptrend in the past year, with its share price currently trading at Rs 1067. This represents a substantial increase from its 52-week low of Rs 503, indicating strong investor confidence in the company. While the 52-week high price of Rs 804.85 remains untested, the current price level suggests potential for further growth. JSPL's financial performance and industry outlook will be key factors influencing the future direction of its share price.
Stratzy's MOST Analysis:
JINDALSTEL has been assigned a BBB rating by Stratzy's MOST framework, indicating Medium Fundamental Risks. The MOST framework evaluates companies based on their Management, Outlook, Safety, and Trend. The BBB rating suggests that JINDALSTEL has a sound management team, a positive outlook for the future, strong safety measures, and a favorable market trend. Overall, the company demonstrates a balanced risk profile, with some areas of strength and some areas for improvement.
Company's Fundamentals:
Jindal Steel & Power (NSE: JINDALSTEL) has a Stock PE of 14.17, indicating that investors are willing to pay Rs. 14.17 for every rupee of earnings. The PB Ratio of 1.9 suggests that the current market price is 1.9 times the company's book value, implying that investors believe the company is slightly overvalued. However, the Dividend Yield of 0.26% indicates that the company pays out a relatively small portion of its earnings as dividends, which could be a potential area for improvement.
Fundamental and Technical information provided in this blog were last updated on 20 Jun, 2024
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