India's Jindal Stainless falls on Q2 profit decline

Jindal Stainless

18/10/2024 10:13

** Shares of Jindal Stainless  JIST.NS  fall as much as 3.9%
to 730.5 rupees 
    ** The stainless steel maker's Q2 consol profit after tax
fell 20% YoY to 6.09 bln rupees ($72.5 mln), Q2 revenue
marginally down at 97.77 bln rupees
    ** Stock set to fall for third straight week
    ** More than 1 mln shares traded, 1.6x times their 30-day
moving avg
    ** Avg rating of the nine analysts is "buy" and median PT is
859 rupees, ~16% higher than current price - LSEG data
    ** JIST up 29.7% YTD, set to rise for sixth straight year

($1 = 84.0440 Indian rupees)

 (Reporting by Anuran Sadhu in Bengaluru)
 ((Anuran.Sadhu@thomsonreuters.com; +91 8697274436;))