JSPL tumbles 13% in four sessions

Jindal Steel & Power (JSPL) fell 1.70% to Rs 249, extending losses to fourth consecutive session.

The stock has declined by 12.89% in four days from its recent closing high of Rs 285.50 on 16 December 2020.

In a BSE filing made during market hours today, the company said that the credit rating agency, ICRA, had upgraded its rating from BBB(-) with 'Stable' outlook to BBB(+) with 'Stable' outlook on the long term bank facilities and non-convertible debentures and from 'A3' to 'A2' for short term facilities of Jindal Steel and Power.

JSPL is an industrial powerhouse with a dominant presence in steel, power, mining and infrastructure sectors.

 

On a standalone basis, JSPL's net profit stood at Rs 997.98 crore in Q2 September 2020 steeply higher from Rs 15.15 crore reported in Q2 September 2019. Net sales rose by 19.6% year on year to Rs 7859.3 crore in Q2 September 2020.

On a year-to-date (YTD) basis, the stock has added 48.48% while the benchmark S&P BSE Sensex has gained 9.63% during the same period.

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