Strong Q1 Income Supports Jindal Stainless Stock

Jindal Stainless LimitedJindal Stainless climbed up 4.71% to Rs 162.25 on reporting 62.6% increase in net profit in Q1 June 2007.

The company declared the Q1 results in market hours yesterday, 23 July 2007, when the stock benefited 2.07% up at Rs 154.95.

The scrip touched peak of Rs 168.45 and low of Rs 155.90 during the day, and there were 6.50 lakh shares for trading on the BSE counter. In the last three months, the stock had average daily volume of 1.48 lakh shares on BSE.

The company’s equity capital is Rs 28.09 crore with 14.04 crore outstanding shares of a face value of Rs 2 each. In the one month to 20 July 2007, the scrip brought in 4.76% against Sensex’s 7.35% increase. It appended 8.12% in last three months against Sensex’s 12% jump.

On 28 May 2007, the stock had hit 52-week high of Rs 170, and 52-week low of Rs 87.50 on 24 July 2006.

The company’s net earnings arose 62.6% to Rs 82.60 crore in Q1 June 2007 over Q1 June 2006. Sales moved up 40% to Rs 1196.82 crore in Q1 June 2007 over Q1 June 2006.