JSPL drops after 3-day 10.5% rally

Jindal Steel and Power lost 2.73% to Rs 237.25 at 13:05 IST on BSE, with the stock sliding on profit booking after 3-day 10.53% rally.

Meanwhile, the S&P BSE Sensex was down 431.26 points or 2.32% at 18,126.87.

On BSE, 2.82 lakh shares were traded in the counter as against average daily volume of 6.11 lakh shares in the past one quarter.

The stock hit a high of Rs 244.70 and a low of Rs 233 so far during the day. The stock had hit a 52-week low of Rs 181.55 on 2 August 2013. The stock had hit a 52-week high of Rs 473.90 on 20 December 2012.

The stock had outperformed the market over the past one month till 26 August 2013, jumping 28.33% compared with the Sensex's 6.03% fall. The scrip had, however, underperformed the market in past one quarter, declining 17.35% as against Sensex's 5.82% fall.

The large-cap company has equity capital of Rs 93.48 crore. Face value per share is Re 1.

Shares of Jindal Steel and Power (JSPL) had rallied 10.53% in three trading sessions to settle at Rs 243.90 on Monday, 26 August 2013, from a recent low of Rs 220.65 on 21 August 2013.

JSPL's consolidated net profit surged 28.3% to Rs 494.28 crore on 4.1% decline in net sales to Rs 4490.80 crore in Q1 June 2013 over Q1 June 2012.

JSPL is one of India's major steel producers with a significant presence in sectors like mining, power generation and infrastructure

Powered by Capital Market - Live News