As one of India’s leading business conglomerates, the Jindal Group is engaged in a diverse portfolio of businesses and achieved rapid growth over the years. Two stocks of the group, namely Jindal Stainless (Hisar) Limited and Jindal Stainless Limited are set to merge and the same will be done by the end of FY2023.
Here are the 2 Jindal group multibagger stocks that have reached a 52-week high:
Jindal Stainless (Hisar) Limited
Jindal Stainless (Hisar) Limitedopened its trading session at Rs 520.95 and gained 5 percent to reach a 52-week high of Rs 548.90 in the early hours of Monday. The stock has delivered a multibagger return of 112 percent over a horizon of 6 months.
Jindal Stainless (Hisar) Limited (JSHL), established in 1975, is India’s first stainless steel manufacturing unit. It has an integrated stainless steel plant with a melting capacity of 8 lakh tonnes per annum.
Revenues of the company have shown improvement from Rs 3,926 crores in Q2 to Rs 4,285 crores in Q3 which is a 9.14 percent upside. Net profits have also shown an increase from Rs 201 crores in Q2 to Rs 242 crores in Q3 which is a huge 20.3 percent upside.
Jindal Stainless Limited
Jindal Stainless Limited opened its trading session at Rs 282.25 levels and shot up by 6 percent to reach a 52-week high of Rs 297 in the early hours. The stock has logged a multibar return of 125 percent over a horizon of 6 months.
As a part of the USD 35 billion Jindal group, Jindal Stainless is the largest stainless steel company in India and ranks amongst the top 10 stainless steel conglomerates in the world. The company has an annual crude stainless steel capacity of 1.9 MTPA.
The revenues of the company have shown improvement from Rs 5,605 crores in Q2 to Rs 6,350 crores in Q3 which is a 13.3 percent increase. Similarly, the net profits have also shown an increase from Rs 142 crores in Q2 to Rs 263 crores in Q3 which is a huge 85 percent increase.
Written by Amit Madnani
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