Latest news with #JindalSteel&Power
Mint
5 days ago
- Business
- Mint
Stocks to buy for short term: From Paytm to Indian Bank— Ajit Mishra of Religare Broking suggests 3 names
Stocks to buy for the short term: The Indian stock market has been volatile for over a month now due to the delayed India-US trade deal, sustained foreign capital outflow, uninspiring Q1 results, and stretched valuation of the market. The Nifty 50 ended 0.63 per cent down at 25,062 on Thursday, July 24. The index is now down about 2 per cent for the month, looking set to snap its four-month winning streak. Ajit Mishra, SVP of research at Religare Broking, pointed out that the Nifty has failed to cross the resistance at 25,250, reflecting a cautious sentiment among participants. He underscored that given the mixed signals, investors should maintain a stock-specific approach and adopt a hedged strategy. Stock picks for the short term Mishra suggests buying shares of Paytm, Indian Bank, and Jindal Steel for the short term. One 97 Communications (Paytm) | LTP: ₹ 1,106.25 | Buy | Target price: ₹ 1280 | Stop loss: ₹ 1,010 Mishra pointed out that Paytm displays a classic multi-year bottoming reversal pattern. After a prolonged downtrend, the stock formed a broad base over several quarters, with notable volume accumulation evident near the bottom. The breakout above the horizontal resistance zone (near ₹1,000) marks the completion of this multi-year reversal structure. The price has now convincingly crossed the 20-week and 200-week EMAs, a significant bullish development signalling a shift in long-term sentiment. Additionally, the breakout is accompanied by notable volume spikes, validating the move with institutional buying interest. "The structure suggests a new long-term uptrend may be underway, with upside targets potentially extending toward ₹1,300 in the near term," said Mishra. Paytm technical chart Indian Bank | LTP: ₹ 652.15 | Buy | Target price: ₹ 705 | Stop loss: ₹ 625 Indian Bank showcases a structurally strong technical setup. After a pronounced uptrend marked by higher highs and higher lows, the stock entered a broader consolidation phase, forming a rectangular range between ₹500 and ₹650 levels. This sideways movement served as a healthy base-building process. A recent breakout above the consolidation zone, coupled with sustained closes above the 20-week EMA ( ₹590), confirms a resumption of the primary uptrend. The pivot breakout has been supported by rising volumes, indicating institutional participation. Indian Bank technical chart Jindal Steel & Power | LTP: ₹ 1,000.45 | Buy | Target price: ₹ 1,070 | Stop loss: ₹ 975 Mishra underscored that the metal space has been performing well, with most stocks participating in the up move on a rotational basis. Jindal Steel & Power recently staged a strong rebound from the ₹850 level, followed by a breakout above the descending trendline that had capped the price for months. This signals a possible end to the intermediate downtrend and a resumption of the primary bullish trajectory. The breakout from the tight rectangular consolidation, along with increasing volumes, reinforces the bullish outlook. "The price is now trading above the 20-week EMA ( ₹930), which has begun sloping upward—another confirmation of a trend reversal. The successful retest and rebound from the trendline support further strengthen this setup," said Mishra. Jindal Steel technical chart Read all market-related news here Read more stories by Nishant Kumar Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
Business Standard
16-07-2025
- Business
- Business Standard
Jindal Steel & Power CFO Mayank Gupta resigns
Jindal Steel & Power (JSPL) announced that its chief financial officer, Mayank Gupta, has stepped down from his role, effective post business hours on 15 July 2025. In a regulatory filing, the company stated that Gupta is no longer in the services of the company as of the close of business on Tuesday. The resignation was attributed to personal commitments, according to the statement submitted by Gupta. The official announcement was made on 15 July 2025, after market hours. Jindal Steel and Power is the flagship company of Jindal Group, an industrial powerhouse which has a strong presence in the steel, power, mining, and infrastructure sectors globally. On a consolidated basis, Jindal Steel & Power reported a net loss of Rs 339.40 crore in Q4 March 2025 as against a net profit of Rs 935.37 crore in Q4 March 2024. Net sales declined 2.25% YoY to Rs 13183.13 crore in Q4 March 2025. The scrip shed 0.47% to Rs 939.55 on the BSE.
Hans India
03-07-2025
- General
- Hans India
Jindal Foundation continues to serve devotees during Rath Yatra
Bhubaneswar: For the 11th year in a row, Jindal Foundation, the social arm of Jindal Steel & Power, has continued to serve devotees of Rath Yatra in Puri, demonstrating its compassion and dedication to community service. This year, the Foundation has served over 10 lakh freshly cooked and nutritious meals during the grand festival. The services will continue until the auspicious day of Suna Besha, aiming to provide more than 20 lakh meals. To serve the devotees, the Foundation has set up two massive food distribution stalls – near the Puri railway station and the bus stand near the Gundicha temple – strategically located to reach maximum number of people. The traditional Odia meal of rice, dalma (a lentil-based dish) and khata (a sweet and sour chutney) was chosen for its nutritional value and its cultural significance, providing a taste of local hospitality to the devotees. The Foundation has ensured that all meals are hygienically prepared and served with humility, aligning with the spiritual sanctity of the event. The stall at the bus stand was inaugurated by Puri MP Sambit Patra. Shallu Jindal, Chairperson, Jindal Foundation, said, 'For the last 11 years, our efforts have been to ensure that no devotee goes hungry while seeking the blessings of Lord Jagannath during Rath Yatra. We are humbled by the blessings and the opportunity to contribute to this grand spiritual occasion of India.'
Business Standard
30-06-2025
- Business
- Business Standard
Jindal Steel commissions first galvanizing line at Angul Complex
Jindal Steel has successfully commissioned its first continuous galvanising line (CGL 1) at its Angul Integrated Steel Complex in Odisha. The company stated that the commissioning of this line would mark a significant expansion in its coated steel product offerings. The new line will produce galvanised and galvalume products under the Jindal Panther Galvanised and ZINKALUME brands, catering to various industries including appliances, automotive, infrastructure, and construction. CGL 1 can process steel thicknesses ranging from 0.15 mm to 1.50 mm and widths from 700 mm to 1400 mm. This advanced setup ensures high precision and consistent quality for a variety of applications. The line also offers thinner HR galvanised coils (1.001.50 mm) for the tube industry, silos, tank farms, and pre-engineered buildings, as well as high-strength galvanised steel for automotive underbody components. Jindal Steel further said that it would add another 6 MTPA crude steel capacity at the Angul plant this year, taking the total capacity to 12 MTPA by the end of 2025. Jindal Steel and Power offers a product portfolio that caters to markets across the entire steel value chain. On a consolidated basis, Jindal Steel & Power reported net loss of Rs 339.40 crore in Q4 March 2025 as against net profit of Rs 935.37 crore in Q4 March 2024. Net sales declined 2.25% YoY to Rs 13183.13 crore in Q4 March 2025. The scrip shed 0.03% to currently trade at Rs 939 on the BSE.
Business Standard
24-06-2025
- Business
- Business Standard
Jindal Steel gains after broker maintains buy rating
Jindal Steel & Power surged 2.08% to Rs 930.25 after a domestic brokerage reiterated its 'Buy' call with a target price of Rs 1,193, citing a robust earnings outlook over the next two years. The brokerage expects JSPL's EBITDA to nearly double by FY27, driven by improved operating leverage, a better product mix, lower production costs, and relatively stable steel prices. It also projects a sharp rebound in volume growth. After a tepid 1% CAGR over FY2225, volumes are expected to grow at 19% annually through FY27, supported by ongoing capacity expansions. JSPL is set to begin hot metal production from its 4.6 mtpa blast furnace in early Q2FY26, while a 3 mtpa basic oxygen furnace is also scheduled for commissioning by the end of that quarter. This ramp-up is expected to boost FY26 steel output and sales to 9 mt, marking a 12.5% year-on-year increase. Jindal Steel and Power offers a product portfolio that caters to markets across the entire steel value chain. On a consolidated basis, Jindal Steel & Power reported net loss of Rs 339.40 crore in Q4 March 2025 as against net profit of Rs 935.37 crore in Q4 March 2024. Net sales declined 2.25% YoY to Rs 13183.13 crore in Q4 March 2025.
