India's Jindal Stainless slips; analysts flag flat quarterly volumes

Jindal Stainless

05/05/2026 08:00

** Shares of India's Jindal Stainless JIST.NS down 1.97% to 763.05 rupees

** Stainless-steel manufacturer posted a net profit of 8.44 billion rupees ($88.49 million) in Q4, up ~43% Y/Y

** Jefferies ("buy"; TP: 1,020 rupees) said March-quarter volumes were flat Y/Y, partly hit by gas supply constraints amid the West Asia conflict, with weak exports offsetting strong domestic demand

** JIST exec said co was unable to completely pass on higher LPG, propane costs to customers

** Stock rated "buy" on avg by 13 analysts, median TP is 864 rupees - LSEG data

** YTD, stock down 7.25%

($1 = 95.3800 Indian rupees)

 (Reporting by Devika Nair in Bengaluru)

 ((Devika.MadhusudhananNair@thomsonreuters.com;))