Jindal Stainless surges on launching first branded Chequered Stainless Steel sheet ‘Infinity’
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Jindal Stainless is currently trading at Rs. 184.95, up by 0.75 points or 0.41% from its previous closing of Rs. 184.20 on the BSE.
The scrip opened at Rs. 184.20 and has touched a high and low of Rs. 186.30 and Rs. 177.15 respectively. So far 139039 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 207.70 on 27-Oct-2021 and a 52 week low of Rs. 60.30 on 19-Mar-2021.
Last one week high and low of the scrip stood at Rs. 195.45 and Rs. 173.75 respectively. The current market cap of the company is Rs. 9177.77 crore.
The promoters holding in the company stood at 68.60%, while Institutions and Non-Institutions held 20.97% and 10.26% respectively.
Jindal Stainless has launched India’s first hot rolled stainless steel chequered sheet with brand name Jindal Infinity at the International Railway Equipment Exhibition 2021 organized by CII.
This is Jindal Stainless’ second foray in the branded category after the launch of Jindal Saathi, the co-branded stainless steel pipes and tubes products. With the launch of Infinity, the company aims to capture 20% market share over the next 3 years, amounting to an additional business potential of around Rs 500 crore.
Jindal Stainless is one of the largest stainless steel conglomerates in India and ranks amongst the top 10 stainless steel conglomerates in the world.
