NSE: JINDALSTEL | BSE: 532286 | INDUSTRY : IRON & STEEL/INTERM.PRODUCTS | SECTOR : METALS & MINING

Jindal Steel & Power Ltd.

Momentum Trap

190.60 -2.45 (-1.27%)

207.42% Gain from 52W Low

Volume: 12.9M

NSEOct 28, 2020 03:31 PM

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Durability score
35/100
Low Financial Strength
Valuation score
34/100
Mid Valuation
Momentum score
72.0/100
Technically Bullish
7S
8W
4O
2T


Jindal Steel & Power Ltd.    
23 Jul 2020
190.60
-1.27%
buy
by Prabhudas Lilladhar
Target: 215 | Target met
Prabhudas Lilladhar
Jindal steel & Power's (JSP) Q1FY21 adj. EBITDA came ahead of our/consensus estimates by 12%/22% at Rs22.6b, led by domestic steel and Jindal power (JPL). EBITDA of Domestic steel/JPL rose 9%/11% QoQ (+6%/+2%YoY). Aided by better operating performance and lower interest cost, cash profit rose 2% QoQ/19% YoY at Rs12.6bn (PLe:10.0bn). JSP reduced net debt by 25%/Rs115bn over last four years. Trajectory would...
Jindal Steel & Power.. has an average target of 223.67 from 3 brokers.
Jindal Steel & Power Ltd.    
23 Jul 2020
190.60
-1.27%
buy
by Motilal Oswal
Target: 226 | Target met
Motilal Oswal
23 July 2020 Jindal Steel and Power (JSP)s 1QFY21 result highlights the benefit of cost reduction in its steel operations. EBITDA was up We raise JSPs FY21/FY22 EBITDA estimates by 6%/5% to factor cost reduction demonstrated by the company. We expect JSP to reduce its net debt by INR83b (INR81/sh) to INR296b over FY2022E. The Oman divestment would reduce debt by an additional ~INR60b. of insurance claim higher volumes and cost reduction in standalone operations. The beat on estimates was led by lower-than-expected costs in standalone operations. Adj. PAT stood at INR1.0b (v/s est.
Jindal Steel & Power.. has an average target of 223.67 from 3 brokers.
Jindal Steel & Power Ltd.    
26 May 2020
190.60
-1.27%
buy
by Prabhudas Lilladhar
Target: 150 | Target met
Prabhudas Lilladhar
estimates by 11%/9% at Rs22.2b, led by higher margins in India and Shadeed steel operations. EBITDA of Domestic steel/Shadeed/Jindal power (JPL) rose 16%/93%/30% QoQ (+8%/+82%/25% YoY). Aided by lower interest cost, quarter turned black with PBT (before exceptional) of Rs1.9bn (PLe:loss of Rs1.5bn) against loss of Rs2.0bn/Rs4.0bn in Q3FY20/Q4FY19....
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Jindal Steel & Power Ltd. is trading above it's 200 day SMA of 158.3
Jindal Steel & Power Ltd.    
05 May 2020
190.60
-1.27%
buy
by Motilal Oswal
Target: 150 | Target met
Motilal Oswal
JSPL produced 550kt steel and related products during Apr20 (up 5% YoY). This was on the back of record high production from the Angul Blast Furnace, which produced 298kt hot metal, clocking 10kt daily. Though domestic demand remained dry during the month, production was boosted by large export orders, primarily of billets from China due to the shortage Apr20 sales stood at 335kt, of which 248kt (74% of total) were exports. The balance production in Apr20 is at the ports, waiting to be exported out; sales We note that while these export volumes would earn lower EBITDA margins (likely ~INR5,000/t), it is still positive as this should help recover fixed costs if plants earn positive cash flows, which is critical in this environment. JSPLs Oman operations reported production of 106kt, down ~40% over the normal monthly run-rate. However, the decline in sales volumes was lower at 33%.
Jindal Steel & Power Ltd. has gained 81.78% in the last 1 Year
Jindal Steel & Power Ltd.    
04 Feb 2020
190.60
-1.27%
buy
by AUM Capital
Target: 230 | Target met
AUM Capital
Jindal Steel and Power Ltd. (JSPL), a part of the USD 22 billion diversified O. P. Jindal Group with the youngest son Mr. Naveen Jindal as a chairperson who transformed a moderately performing company into a world class organization. JSPL, established in the year 1952 is an industrial powerhouse and one of India's fastest growing and largest integrated steel manufacturers with a dominant presence in steel, power, mining and infrastructure sectors. The company operates some of India's most advanced steel manufacturing and power generation capacities of global scale through backward and forward integration spanning across the states of Chhattisgarh,...
Jindal Steel & Power Ltd. has gained 127.18% in the last 6 Months
Jindal Steel & Power Ltd.    
20 Jan 2020
190.60
-1.27%
buy
by Motilal Oswal
Target: 210 | Target met
Motilal Oswal
20 January 2020 JSPs result instills more confidence in the expected steel volume ramp-up with strong 34% YoY standalone volume growth to 1.6mt (+21% QoQ) in 3QFY20. Moreover, the sharp improvement in steel prices over the past two months, coupled with lower coking coal cost, has reinforced the near-term margins outlook. We estimate EBITDA/ton to improve ~30% QoQ to INR11,000/t in 4QFY20. Reiterating with an SOTP-based target price of INR210. EBITDA of INR18.1b (+11% QoQ) in 3QFY20 was 5% above our estimate due to higher volumes in the standalone business. Interest cost declined 3% QoQ to INR10b. Steel sales volumes were strong at 1.6mt (+21% QoQ, +34% YoY). Implied steel realization dropped to INR39,023/t (-16% QoQ), resulting in an EBITDA margin of ~INR8,400/t (-32% YoY, 11% QoQ) weakest in three years. EBITDA stood at INR13.5b (+8% QoQ, -9% YoY due to lower realizations), above our estimate of INR12.
Jindal Steel & Power.. has an average target of 223.67 from 3 brokers.
Jindal Steel & Power Ltd.    
20 Jan 2020
190.60
-1.27%
buy
by Prabhudas Lilladhar
Target: 205 | Target met
Prabhudas Lilladhar
JSP reduced debt by ~23% over last four years on the back of improved earnings, strong control on working capital and lean capex. It would continue to reduce debt by 10% for next couple of years as company remains focused on reviving its idle capacity and optimization of capex and working capital. We remain positive on JSP given the strong scope for increase in utilisation of idle steel and power capacity in India, lean capex and continuous reduction...
Number of FIIs/FPIs holding stock rose by 23 to 298 in Sep 2020 qtr.
Jindal Steel & Power Ltd.    
20 Dec 2019
190.60
-1.27%
buy
by Motilal Oswal
Target: 184 | Target met
Motilal Oswal
20 December 2019 With restarting of the cost-efficient DRI plant (using coke oven gas), total metallic availability would increase to ~13,000tpd from Jan20 (from 10,000tpd currently), implying that annual steel production of ~4mnt would be achievable at Angul at a competitive cost. We, therefore, increase our FY21 standalone steel sales volume estimate to 6.2mnt, implying a 10% CAGR in FY19-21E. Lower raw material cost led by decline in coking coal and iron ore costs should partially offset the decline in steel prices seen in the past six months. JSP's power business remains highly underutilized with PLF hovering around 35%. JSP is well placed to secure PPAs as this plays out, which should boost its free cash flows. We expect JSP to generate significant consolidated free cash flow (as major capital expenditure is now behind), which will help reduce leverage INR365b net debt as of Sep19 with ~5x net debt/ EBITDA.
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Jindal Steel & Power Ltd. is trading above it's 200 day SMA of 158.3
Jindal Steel & Power Ltd.    
03 Dec 2019
190.60
-1.27%
buy
by Motilal Oswal
Target: 175 | Target met
Motilal Oswal
3 December 2019 The Supreme Court (SC) has deferred its verdict on JSPs case related to the offtake of iron ore from the Sarda mines. JSP though had made payment for ~12mt of iron ore (mainly fines) to Sarda and the state (royalty/taxes), thereby stating its claim on the related ore. JSP cited it sources iron ore fines at INR1,800-2,000/t (ex-mine). Thus, if the company were allowed to lift the 12mt of fines, it will lead to a benefit of INR22- 24b. Thus, availability of this 12mt would provide significant cushion against any possible disruption (accounting for 18-20 months of sourcing from merchant mines). In recent times, JSPLs stock has re-rated (up ~55% over the past two months) on expectations of (a) benefit of coal block allocation (Gare Palma), (b) possible positive verdict on the Sarda mines case and (c) a recovery in steel prices.
Number of FIIs/FPIs holding stock rose by 23 to 298 in Sep 2020 qtr.
Jindal Steel & Power Ltd.    
04 Nov 2019
190.60
-1.27%
buy
by Prabhudas Lilladhar
Target: 170 | Target met
Prabhudas Lilladhar
2014, the block was owned and operated by JSP to meet coal requirement of its sponge iron ore and CPP at Raigarh plant. Benefitted by proximity of mine to its plant and owned infrastructure, JSP was best placed to win the auction. We see the bid as a significant positive development for JSP as this would lower its coal cost by Rs1,300/t (for 6mtpa of coal) along with much needed raw material security in wake of severe shortage of domestic coal. We expect coal block to add Rs46bn (Rs46/share) to the equity value based on...
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Jindal Steel & Power Ltd. is trading above it's 200 day SMA of 158.3