India's Jindal Stainless trims losses on deal with JBM Auto

Jindal Stainless

19/03/2024 07:58

** Shares of Jindal Stainless  JIST.NS  trims some losses,
last down 1.8% at 659.8 rupees
    ** India's biggest stainless steel maker announces
partnership with busmaker JBM Auto  JBMA.NS  for more than 500
electric buses
    ** JIST was down ~3.8% before the announcement
    ** JBMA was already up after its unit won a $904 mln order
    ** Avg analyst rating on JIST is "buy", same as Jindal Steel
and Power  JNSP.NS , while JSW Steel  JSTL.NS  and Tata Steel
 TISC.NS  rated "hold" on avg - LSEG data

 (Reporting by Varun Vyas in Bengaluru)
 ((varunvyas.hebbalalu@thomsonreuters.com))