India's Jindal Stainless rises on Q2 profit jump

Jindal Stainless

20/10/2023 04:58

** Shares of Jindal Stainless  JIST.NS  rise as much as 5.3%
to 474 rupees
    ** India's biggest stainless steel maker by volumes reported
on Thursday its Q2 consolidated net profit more than doubled to
7.74 bln rupees ($93.05 million), rev from ops grew nearly 12%
    ** Co added it is exploring selling, liquidating or
divesting its unit in Indonesia
    ** Analysts covering the stock on average have a "strong
buy" rating; median PT is 483 rupees - LSEG data
    ** Stock currently up 4.9%, bumping YTD gains to nearly 93%



($1 = 83.1820 Indian rupees)

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