The Jindal Group, a diversified Indian conglomerate with interests spanning steel, power, infrastructure, packaging, and financial services, is in focus in today’s trading session as the four stocks from the BC Jindal Group — Jindal Photo, Jindal Poly Investment & Finance, Jindal Poly Films, and Jindal Worldwide- surged between 10% and 20%.
Reason for the stock’s Rally
On Thursday, October 9, four stocks from the group rallied up to 20%. Two of them hit the 20% upper circuit, while the other two rose more than 14%. The rally was driven by unusually high trading volumes, as the stocks were trading well above their average volumes.
Jindal Photo Ltd
Jindal Photo Ltd was primarily involved in the business of photographic products, especially imaging and consumer photo goods. Over time, its business operations reduced significantly, and it transformed into more of an investment holding company. It is part of the B.C. Jindal Group, which has interests across packaging, films, and related industries.
With a market capitalization of Rs. 1,423.86 crores on Thursday, the shares of Jindal Photo Ltd hit a 20 percent upper circuit, making a high of Rs. 1388.00 per share compared to its previous closing price of Rs. 1156.70 per share. On Thursday, trading volume in Jindal Photo surged, with 80,000 shares changing hands, significantly higher than its 20-day average of just 2,500 shares.
Jindal Poly Investment & Finance Ltd
Jindal Poly Investment & Finance primarily operates as an investment and finance holding company, managing investments in equity shares and other financial instruments. It doesn’t have a core business operation of its own but plays a strategic role within the B.C. Jindal Group. Its revenue is largely from dividends, capital gains, and interest income from its investments.
With a market capitalization of Rs. 1,089.67 crores on Thursday, the shares of Jindal Poly Investment & Finance Company Ltd hit a 20 percent upper circuit, making a high of Rs. 1109.55 per share compared to its previous closing price of Rs. 924.65 per share. On Thursday, nearly 5 lakh shares of the company have changed hands so far during the trading session, well above the 20-day average of 3,000 shares.
Jindal Poly Films Ltd
Jindal Poly Films Ltd is a leading manufacturer of BOPP (biaxially oriented polypropylene) and polyester films used in packaging. It caters to industries like FMCG, food & beverage, and pharmaceuticals. It’s also part of the B.C. Jindal Group has diversified into non-woven fabrics and other packaging materials.
With a market capitalization of Rs. 2,624.12 crores on Thursday, the shares of Jindal Poly Films Ltd jumped upto 15.2 percent, making a high of Rs. 644.85 per share compared to its previous closing price of Rs. 559.55 per share. On Thursday, volumes on Jindal Poly are also significantly higher, with over 33 lakh shares changing hands so far, compared to the 20-day average of 29,000 shares.
Jindal Worldwide Ltd
Jindal Worldwide Ltd is part of the Ahmedabad-based Jindal Group and is involved in the textile business, especially in denim and other fabric manufacturing. It exports to several countries and serves major global apparel brands. The company has been expanding its capacity and product range, including plans to enter technical and value-added textiles.
With a market capitalization of Rs. 3,832.95 crores on Thursday, the shares of Jindal Worldwide Ltd jumped upto 14.2 percent, making a high of Rs. 39.95 per share compared to its previous closing price of Rs. 34.98 per share. On Thursday, the stock has surged on very high volumes, with more than 1.9 crore shares already having changed hands, compared to the 20-day average of 4 lakh shares.
Written by Sridhar J
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