Jindal Stainless advances after turnaround in Q4

Jindal Stainless rose 2.35% to Rs 80.50 at 10:40 IST on BSE after the company reported net profit of Rs 161.12 crore in Q4 March 2017, compared with net loss of Rs 171 crore in Q4 March 2016.

The result was announced after market hours on Friday, 12 May 2017.

Meanwhile, the S&P BSE Sensex was up 120.72 points, or 0.4% at 30,308.87. The S&P BSE Mid-cap index was up 140.82 points, 0.95% at 14,995.27.

On the BSE, 2.40 lakh shares were traded on the counter so far as against the average daily volumes of 3.47 lakh shares in the past one quarter. The stock had hit a high of Rs 83.45 and a low of Rs 80.55 so far during the day.

The stock had hit a 52-week high of Rs 84 on 10 April 2017 and a 52-week low of Rs 14.20 on 2 June 2016. The stock had underperformed the market over the past one month till 12 May 2017, sliding 0.32% compared with the Sensex's 1.84% rise. The scrip had, however, outperformed the market over the past one quarter advancing 52.13% as against the Sensex's 6.54% rise.

The mid-cap company has equity capital of Rs 79.89 crore. Face value per share is Rs 2.

Jindal Stainless' net sales rose 23.7% to Rs 2301.39 crore in Q4 March 2017 over Q4 March 2016.

Jindal Stainless' earnings before interest, tax, depreciation and amortization (EBITDA) increased by 117% to Rs 313 crore in Q4 March 2017 over Q4 March 2016.

Jindal Stainless is engaged in manufacturing of stainless steel.

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