Jindal Steel & Power hits over 3-month low, slips 7% post Q2 results
Shares of Jindal Steel & Power (JSPL) hit an over three-month low of Rs 590.50 as they slipped 7 per cent on the BSE in Wednesday’s intraday trade amid concerns arising from the volatility in the prices of raw materials which, analysts believe, will likely impact the profitability of steel players in India. Analysts have cut FY24/25E earnings before interest, taxes, depreciation, and amortisation (Ebitda) estimates of JSPL on higher coking coal price assumption and delays in capacity addition. The stock was trading at its lowest level since July 12, 2023. It has corrected 18 per cent from its 52-week high level of Rs 722.15 touched on September 15.
