03-08-2023 02:09 PM | Source: Accord Fintech
Jindal Stainless climbs on planning to invest Rs 120 crore to set up two solar projects
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Jindal Stainless is currently trading at Rs. 316.60, up by 17.15 points or 5.73% from its previous closing of Rs. 299.45 on the BSE.

The scrip opened at Rs. 301.00 and has touched a high and low of Rs. 318.80 and Rs. 296.50 respectively. So far 181977 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 318.80 on 08-Mar-2023 and a 52 week low of Rs. 95.05 on 20-Jun-2022.

Last one week high and low of the scrip stood at Rs. 318.80 and Rs. 267.50 respectively. The current market cap of the company is Rs. 16258.83 crore.

The promoters holding in the company stood at 70.10%, while Institutions and Non-Institutions held 20.26% and 9.46% respectively.

Jindal Stainless (JSL) is planning to invest Rs 120 crore to set up rooftop solar capacities at its Jajpur and Hisar facilities. While a project of 21 megawatt peak (MWp) will be set up in Jajpur, another 6 MWp rooftop solar capacity will be installed at company's unit in Hisar. Both the projects are scheduled to be completed by March 2024 and the energy generated will be for captive usage.

Jindal Stainless is one of the largest stainless steel conglomerates in India and ranks amongst the top 10 stainless steel conglomerates in the world.