Jindal Stainless gains on eyeing to commence operation of hybrid project in next 18 months
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Jindal Steel & Power is currently trading at Rs. 581.50, up by 5.65 points or 0.98% from its previous closing of Rs. 575.85 on the BSE.
The scrip opened at Rs. 584.75 and has touched a high and low of Rs. 588.90 and Rs. 578.00 respectively. So far 30781 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 622.40 on 01-Feb-2023 and a 52 week low of Rs. 304.20 on 22-Jun-2022.
Last one week high and low of the scrip stood at Rs. 590.00 and Rs. 560.90 respectively. The current market cap of the company is Rs. 59384.43 crore.
The promoters holding in the company stood at 61.20%, while Institutions and Non-Institutions held 27.31% and 11.49% respectively.
Jindal Stainless (JSL) is eyeing to commence operation of its 300 MW hybrid project in partnership with ReNew in the next 18 months. In December 2022, Jindal Stainless partnered with ReNew to develop the proposed 300 MW hybrid energy project.
JSL is also in process of investing Rs 120 crore to set up a 21 MW rooftop solar capacity at its Jajpur unit and another 6 MW in the Hisar facility. The energy generated from the solar, wind and hydrogen units will be used in various processes of stainless steel-making plants.
Jindal Stainless is one of the largest stainless steel conglomerates in India and ranks amongst the top 10 stainless steel conglomerates in the world.
