Rs 70 to Rs 198: This steel manufacturing company nearly tripled investors’ wealth in the last year!

Rs 70 to Rs 198: This steel manufacturing company nearly tripled investors’ wealth in the last year!

by 5paisa Research Team Last Updated: 2022-04-06T12:58:26+05:30

These returns are over 7 times the returns delivered by the S&P BSE 500 index, of which the stock is a part.

Jindal Stainless Ltd (JSL), one of the S&P BSE 500 companies, has generated massive wealth for its investors over the last 1 year. During this period, the company’s share price has jumped from Rs 70.9 on 6th April 2021 to Rs 198.65 on 5th April 2022 on BSE, giving 180% returns YoY.

These returns are over 7 times the returns delivered by the S&P BSE 500 index, of which the stock is a part. During this period, the index jumped from the levels of 19,672.73 on 6th April 2021 to 24,490.81 on 5th April 2022, which is an increase of 24.49% YoY.

An investment of Rs 1 lakh in this stock last year would have increased to Rs 2.8 lakh today.

Jindal Stainless Ltd is the country’s largest stainless steel manufacturing company. With a state-of-the-art manufacturing unit in Odisha, the company has a melting capacity of 1.1 million tonnes per annum. This manufacturing complex, equipped with a captive power generation facility, is eventually scalable up to 3.2 million tonnes per annum of stainless steel production.

The company manufacturers stainless steel in 200 series, 300 series (including SS 304, SS 316), 400 series and duplex stainless steel grades. Its product portfolio comprises stainless steel coil, stainless steel plates, stainless steel bar, stainless steel sheets, precision strip, blade steel and coin blanks.

Currently, the company’s shares are trading at a TTM PE of 7.26x as against the industry PE of 6.67x. In FY21, the company delivered an ROE & ROCE of 14.87% and 18.83%, respectively.

At 12.11 pm, the shares of Jindal Stainless Ltd were trading at Rs 201.50, an increase of 1.43% from the previous day’s closing price of Rs 198.65 on BSE. The stock has a 52-week high & low of Rs 224.60 and Rs 69.55, respectively on BSE.


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