Short Term Buy Call For Jindal Steel & Power

Short Term Buy Call For Jindal Steel & PowerStock market analyst Shrikant Chouhan of Kotak Securities has maintained 'buy' rating on Jindal Steel & Power Limited stock with short term target of Rs 740.

According to analyst, the interested investors can buy the stock with stop loss of Rs 695.

The stock of the company, on Sep 07, closed at Rs 706.30 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 778 and a low of Rs 554.44 on BSE.

Current EPS & P/E ratio stood at 17.30 and 40.59 respectively.

Jindal Steel and Power has decided to bid again to get a controlling stake in Zisco (Zimbabwe Iron and Steel Company), over two months after the African firm disapproved the Delhi-based company's previous bid.

Naveen Jindal-owned Jindal Steel, Bolivia, a division of Jindal Steel and Power, has declared that it has received sanction for 3,000 acres additionally to set up its $2.1-billion steel and power facility in Santa Cruz region of Bolivia.

The Bolivian administration has offered up 3,000 acres for the facility in addition to approximately 1,000 acres sanctioned previously.

Around 5,000 acres are needed for the plant and the company will utilize the remaining land for establishing a power generation division near to the steel facility.