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Jindal Stainless hits 52-week high; spurts 29% in three days

Capital Market 

Jindal Stainless jumped 5.69% to Rs 55.75, extending gains for the third session.

Shares of Jindal Stainless soared 28.90% in three trading sessions from a recent closing low of Rs 43.25 on 9 October 2020.

On a consolidated basis, Jindal Stainless reported a net loss of Rs 123.99 crore in Q1 June 2020 compared with a net profit of Rs 47.62 crore in Q1 June 2019. Net sales tumbled 57.8% to Rs 1376.06 crore in Q1 June 2020 over Q1 June 2019.

Jindal Stainless is a stainless-steel manufacturer. Its products include stainless steel products, ferro alloys and metallurgical coke.

The stock hit a 52-week high at Rs 58.25 in intraday today. The scrip has surged 150% from its 52-week low of Rs 22.30 hit on 24 March 2020.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Wed, October 14 2020. 13:17 IST