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Jindal Steel and Power: Improving fundamentals but stock rally merits caution

JSPL results beat the Street’s expectation on the back of higher realisation, better gross margin due to iron ore from Sarda Mines and better performance from Oman.

June 02, 2020 / 12:15 PM IST
Jindal Steel and Power: Improving fundamentals but stock rally merits caution

Jindal Steel and Power’s (CMP: Rs. 129; Market capitalisation: Rs 13,174crore) results beat the Street’s expectation on the back of higher realisation, better gross margin due to iron ore from Sarda mines, better performance from Oman and higher generation from Jindal Power (JPL). Quarterly snapshot EBIDTA/Tonne at Rs 11160 in March 2020 was one of the best ever reported in the last 4 quarters. (image) On the back of higher generation QoQ and lower coal cost, Jindal Power Ltd (JPL) reported improved...

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