Jindal Steel and Power inches up on prepaying $105.66 million loan in its Australian entity
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Jindal Steel & Power is currently trading at Rs. 398.10, up by 2.35 points or 0.59% from its previous closing of Rs. 395.75 on the BSE.
The scrip opened at Rs. 397.00 and has touched a high and low of Rs. 400.80 and Rs. 396.10 respectively. So far 42074 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 501.60 on 10-May-2021 and a 52 week low of Rs. 159.70 on 22-Sep-2020.
Last one week high and low of the scrip stood at Rs. 404.60 and Rs. 375.60 respectively. The current market cap of the company is Rs. 40535.43 crore.
The promoters holding in the company stood at 60.47%, while Institutions and Non-Institutions held 25.77% and 13.76% respectively.
In its endeavour to completely pay off its overseas debt, Jindal Steel & Power (JSPL) through its step down subsidiary, Jindal Steel & Power (Australia) has made a pre-payment of $105.66 million (approximately Rs 777.4 crore). The prepayment has helped reduce the Australian debt by approximately 50%. The company’s Net Debt/EBITDA on Consolidated basis was reported at 0.96x while Standalone Net Debt/EBITDA was approximately 0.7x as of June quarter which is expected to go down further this quarter.
JSPL is one of India’s fastest growing and largest integrated steel manufacturers, significantly present in Steel, Power Generation and Infrastructure segments and catering to a large part of India's domestic energy and infrastructure requirement.
