Jindal Stainless spurts ahead of board meeting to consider asset monetization plan

Jindal Stainless surged 6.39% to Rs 39.15 at 12:42 IST on BSE ahead of a board meeting today, 29 December 2014, to consider a scheme on asset monetization and business reorganization plan of the company.

Meanwhile, the S&P BSE Sensex was up 234.69 points or 0.86% at 27,476.47.

On BSE, so far 7.01 lakh shares were traded in the counter as against average daily volume of 1.16 lakh shares in the past one quarter.

The stock hit a high of Rs 40.25 and a low of Rs 36.70 so far during the day. The stock had hit a 52-week high of Rs 64.40 on 2 July 2014. The stock had hit a 52-week low of Rs 28.50 on 16 December 2014.

The stock had outperformed the market over the past one month till 26 December 2014, jumping 18.9% compared with Sensex's 4.03% fall. The scrip had, however, underperformed the market in past one quarter, sliding 6.84% as against Sensex's 2.31% rise.

The small-cap company has equity capital of Rs 43.08 crore. Face value per share is Rs 2.

Jindal Stainless reported net loss of Rs 255.23 crore in Q2 September 2014, lower than net loss of Rs 411.97 crore in Q2 September 2013. Net sales rose 8.7% to Rs 3296.62 crore in Q2 September 2014 over Q2 September 2013.

Jindal Stainless is engaged in manufacturing of stainless steel.

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