Jindal Stainless rises on commissioning Nickel Pig Iron smelter facility in Indonesia
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Jindal Stainless is currently trading at Rs. 703.00, up by 7.65 points or 1.10% from its previous closing of Rs. 695.35 on the BSE.
The scrip opened at Rs. 702.60 and has touched a high and low of Rs. 703.70 and Rs. 684.25 respectively. So far 25021 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 848.00 on 09-Jul-2024 and a 52 week low of Rs. 400.10 on 16-Aug-2023.
Last one week high and low of the scrip stood at Rs. 704.70 and Rs. 631.00 respectively. The current market cap of the company is Rs. 57599.25 crore.
The promoters holding in the company stood at 60.49%, while Institutions and Non-Institutions held 28.74% and 10.77% respectively.
Jindal Stainless in joint Venture (JV) with New Yaking Pte., has commissioned Nickel Pig Iron smelter facility located in an industrial park in Halmahera Islands, Indonesia, eight months ahead of the scheduled timeline.
Through this JV with New Yaking Pte., Jindal Stainless has ensured the long-term availability of nickel for stainless steel production. The company had announced a collaborative agreement with New Yaking Pte., in March 2023, wherein the company acquired a 49% equity interest for around $157 million.
Jindal Stainless (JSL) is one of the largest stainless steel conglomerates in India and ranks amongst the top 10 stainless steel conglomerates in the world.
