Top buzzing stock: Jindal Stainless (Hisar)

Top buzzing stock: Jindal Stainless (Hisar)

by 5paisa Research Team Last Updated: Dec 12, 2022 - 10:49 am 38.1k Views

Jindal Stainless (Hisar) Ltd operates as a subsidiary of Jindal Stainless Ltd.

Jindal Stainless (Hisar) Ltd is a midcap stainless-steel manufacturing company. Its products include slabs, coin blanks, precision strips, blade steel and stainless-steel plumbing. The company was incorporated in 2013 and is based in Hisar, Haryana.

The stock has performed exceptionally well in short term and has given a return of 17% in just one month. Furthermore, the stock has delivered about 233% to its shareholders in one year. These stats are no less in describing the immense bullishness the stock has.

The stock has surged nearly 4% today and hit a fresh all-time high of Rs 430. It was in a continuous uptrend and has never closed below its 20-DMA this year. The bullishness is best described by RSI, which is placed in the super bullish territory. The MACD line is well above the zero line and signal line and demonstrates the strong uptrend of the stock. All the moving averages are upward sloping, which validates the positive bias of the stock. The weekly ADX is above 45 and rising upwards, displaying a strong uptrend on the weekly timeframe. The above technical parameters are validated by rising volumes in recent times, highlighting the increasing participation of market participants in this stock.

Such strong technical can be attributed to the company’s increasing net profitability over the years. The company has also improved its operating margins significantly. With such strong fundamentals, the domestic institutions have increased their stake last year. Most of the company’s stake is held by the promotors which is about 58%, while the institutions hold about 25% of the stake. The rest is held by the HNIs and retail portion.

Considering the strong technical and sound fundamentals, the stock is quite attractive among traders for the short and medium term. It has the potential to deliver decent returns during this period.

How do you rate this article?


Start Investing in 5 mins*

Rs. 20 Flat Per Order | 0% Brokerage

About the Author

Our research team is composed of some highly qualified research professionals, their expertise range across sectors.

Open Free Demat Account

Resend OTP
Please Enter OTP
Account belongs to

By proceeding, you agree to the T&C.

Latest News
Sahana Systems IPO GMP (Grey Market Premium)

Sahana Systems IPO worth ₹32.74 crore comprises entirely of a fresh issue of shares by the company. The price band has been fixed in the range of ₹132 to ₹135.

  • Jun 07, 2023
Spectrum Talent Management IPO GMP (Grey Market Premium)

The ₹105.14 crore IPO of Spectrum Talent Management IPO comprises entirely of a combination of a fresh issue of shares and an offer for sale (OFS) by promoters and early shareholders.

  • Jun 07, 2023
IKIO Lighting IPO GMP (Grey Market Premium)

IKIO Lighting IPO worth ₹607 crore comprises of an offer for sale and also of a fresh issue of shares. The offer for sale (OFS) component is by the promoters and early shareholders of the company.

  • Jun 07, 2023

Start Investing Now!

Open Free Demat Account in 5 mins

Enter Valid Mobile Number