JSPL drops after recent gains

Jindal Steel & Power lost 1.93% to Rs 276.40 at 14:48 IST on BSE, with the stock sliding on profit booking after recent gains.

Meanwhile, the S&P BSE Sensex was up 10.97 points or 0.05% at 22,775.80.

On BSE, so far 1.27 lakh shares were traded in the counter as against average daily volume of 1.80 lakh shares in the past one quarter.

The stock was volatile. The stock lost as much as 2.78% at the day's low of Rs 274 so far during the day. The stock rose as much as 1.06% at the day's high of Rs 284.85 so far during the day. The stock had hit a 52-week high of Rs 347.75 on 23 April 2013. The stock had hit a 52-week low of Rs 181.55 on 2 August 2013.

The stock had outperformed the market over the past one month till 21 April 2014, surging 6.54% compared with the Sensex's 4.65% rise. The scrip had also outperformed the market in past one quarter, jumping 7.91% as against Sensex's 7.12% rise.

The large-cap company has equity capital of Rs 92.63 crore. Face value per share is Re 1.

Shares of Jindal Steel & Power (JSPL) had risen 4.83% in three trading sessions to settle at Rs 281.85 on Monday, 21 April 2014, from a recent low of Rs 268.85 on 15 April 2014.

JSPL's consolidated net profit declined 35.3% to Rs 561.51 crore on 13.9% growth in net sales to Rs 5335.79 crore in Q3 December 2013 over Q3 December 2012. The company unveils FY 2014 results on 29 April 2014.

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

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