Jindal Stainless jumps after partnering with CII

Jindal Stainless jumps after partnering with CII

by 5paisa Research Team Last Updated: Feb 28, 2023 - 02:33 pm 619 Views
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Today, the stock opened at Rs 256.65 and has touched a high and low of Rs 266.55 and Rs. 256.65, respectively.

At noon, the shares of Jindal Stainless were trading at Rs 265.55, up by 7.40 points or 3.77% from its previous closing of Rs 255.90 on the BSE.

Partnering with the Confederation of Indian Industry (CII)

Jindal Stainless Ltd has partnered with the industry body the Confederation of Indian Industry (CII) to create awareness on corrosion and scale up its management activities to cut down losses estimated to be worth lakhs of crores of rupees in the country.

CII and Jindal Stainless signed a memorandum of understanding which focuses on inviting suggestions on improvements specific to stainless steel use, scaling up corrosion management activities in India and abroad, promoting technology to manage corrosion, and providing short-term and long-term courses for industry professionals for the right material selection.

It also involves conducting workshops, organizing summits on corrosion, identifying global practices in corrosion management, suggesting potential solutions to minimize corrosion-related losses, etc.

Stock price movement

On Tuesday, the stock opened at Rs 256.65 and touched a high and low of Rs 266.55 and Rs. 256.65, respectively. The BSE group 'A' stock of face value of Rs 2 has touched a 52-week high and low of Rs 275 and Rs 95.05, respectively. Last one week high and low of the scrip stood at Rs 275 and Rs 242.70, respectively. The current market cap of the company is Rs 13,725.94 crore.

The promoters holding in the company stood at 70.10%, while Institutions and Non-Institutions held 20.26% and 9.46% respectively.

Company profile 

Jindal Stainless is one of the largest stainless-steel conglomerates in India and ranks amongst the top 10 stainless steel conglomerates in the world. The company manufactures stainless steel flat products, in Austenitic, Ferritic, Martensitic and Duplex grades in India used in a variety of industries like automobile, railways, construction, consumer goods etc.

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