India's Jindal Stainless hits record high on Q1 profit surge

Jindal Stainless

27/07/2023 05:22

** Shares of Jindal Stainless  JIST.NS  rise as much as 2.6%
to a record high of 386 rupees
    ** Co reports a near-50% jump in Q1 consol net profit to
7.46 bln rupees ($91.07 million), rev from ops surges 25.4% Y/Y
    ** If trends hold, JIST on track for third consecutive
session of gains
    ** Stock trading above its moving average convergence
divergence line (MACD), indicating bullish sentiment
    ** Analysts covering the stock on average have a "strong
buy" rating; median PT is 368 rupees - Refinitiv data
    ** Stock up 57.9% YTD up to last close



($1 = 81.9150 Indian rupees)

 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))