This comes after the national transporter placed a developmental order of Rs 536 crore for one lakh tonne of rails to Jindal Steel and Power (JSPL) as part of a global tender.
Motilal Oswal is bullish on Jindal Steel and Power has recommended buy rating on the stock with a target price of Rs 336 in its research report dated November 13, 2018.
The company had incurred a loss of Rs 499.48 crore during the same quarter a year ago
This was revealed by JSPL chairman Navin Jindal, who earlier in the day met Odisha steel and mines secretary R K Sharma here.
The financial stakeholders and prospective investors have suggested demerging Jindal Steel and Power Ltd (JSPL) into three different entities, according to company sources.
Prabhudas Lilladher is bullish on Jindal Steel and Power has recommended buy rating on the stock with a target price of Rs 305 in its research report dated August 10, 2018.
Net profit was 1.81 billion rupees ($26.37 million) in the quarter ended June 30, compared with a loss of 3.87 billion rupees a year ago. Analysts were expecting a profit of 1.33 billion rupees, according to Thomson Reuters.
"The credit rating upgrade by CRISIL comes soon after similar upgrades by CARE and ICRA," JSPL said in a statement.
The company has issued 51,502,145 equity shares of face value of Rs 1 each at a price of Rs 233 per share, including a premium of Rs 232, JSPL said in a regulatory filing.
Prabhudas Lilladher is bullish on Jindal Steel and Power has recommended buy rating on the stock with a target price of Rs 360 in its research report dated January 22, 2018.
However, the company's total consolidated income was higher at Rs 6,124.78 crore in July-September quarter this fiscal from Rs 5,028.67 crore during the corresponding period of 2016-17, it said in a BSE filing.
The steelmaker said it also signed a lease-back deal with the company which finances construction equipment purchases and will continue to operate the assets for manufacturing steel.
Edelweiss is bullish on Jindal Steel and Power has recommended buy rating on the stock with a target price of Rs 155 in its research report dated August 03, 2017.
Ashwani Gujral of ashwanigujral.com is of the view that one can buy TVS Motor and Century Textiles and sell Torrent Pharma.
Amisha Vora Joint Managing Director Prabhudas Lilladher is upbeat on Jindal Steel and Power, Hindalco and Tata Steel.
Ashwani Gujral of ashwanigujral.com bets on financials and avoid IT and pharma stocks. Buy JSPL and sell TCs and HDIL," he adds.
JSPL stock is back to a level of Rs 123 a share with most of its businesses now showing revival. While the Street is still debating whether to call it a turnaround or not, green shoots are visible.
JSPL's foray is in line with the Make in India programme and is expected to give an impetus to India's commitment to United Nations COP21 for improving emission intensity, a company statement said today.
The JSPL chairman is bullish that increased production & good demand will help the company pare debt.
The world's third-largest greenhouse gas emitting country said last Friday it would lower the duty on coal from July 1 and impose a new 18 percent tax on solar cells and modules as part of a broader tax overhaul.
Jindal Steel and Power (JSPL) today said its consolidated loss narrowed to Rs 100 crore in the quarter ended on March 31, 2017, on the back of higher income.
Replying to the channels query, JSPL said that there was no such plan of equity dilution and Yamato is not the only option for a foreign tie-up.
The company in a regulatory filing said that the meeting of board of directors is scheduled to be held on March 30, 2017, inter alia, "to consider various modes of fund raising by way of preferential allotment of securities to different entities including the promoter(s)/promoter group entity(ies)".
Earlier, the court had allowed CBI to quiz Singhal and further probe the matter before answering his application.
The Chhattisgarh plant doesn't need a turnaround as it is suffering from sector woes, says Sanjay Sagar, Joint Managing Director and CEO of JSW Energy.