Jindal Steel & Power Share Price In Green, As Promoters Increase Stakeholding

Jindal Steel and Power Limited's share price traded in the green during the early trading session on February 20, as the Promoters have raised stakeholding in the metal company.

Shares of Jindal Steel & Power opened at Rs 854.95 on the Bombay Stock Exchange (BSE) on Thursday and edged towards the intraday high of Rs 873.70 during the morning trading window. The Jindal & Power share price had dipped to a 52-week low of Rs 723.95 on January 31, 2025. However, Jindal Steel & Power's stock price has been recovering showing a rebound of over 20 per cent from its 52-week low.

On February 19, Jindal Power Ltd announced that they had acquired 3,76,579 shares in Jindal Steel & Power Limited on February 17, 2025, in an exchange filing. This indicates an increase of 0.03 per cent in JPL's shareholding pattern.

Jindal Steel and Power share price was trading in the green, up 1.51 per cent, at Rs 872.30 on BSE, at the time of writing this report (February 19, 12:32 pm). The company enjoys a market capitalisation of Rs 88,982 crore.

As per the filing, Jindal Power Limited and a list of persons acting in concert (PAC) have acquired stakes and revealed that the acquirer is a part of the Promoter group of the Target Company.

Before this development, Jindal Power held 93,19,741 stakes in Jindal Steel & Power Ltd, meaning the company had a 0.913 per cent stake in Jindal Steel & Power.

Therefore, after the new development, Jindal Power Ltd now holds 96,96,320 shares of Jindal Steel and Power Ltd which means a total of 0.95 per cent stake holding in Jindal Steel and Power.

Meanwhile, Jindal Steel & Power Ltd (JSPL) announced its financial results for the third quarter of FY 2024-25 on Thursday, January 30. The company’s steel sales volumes increased by 5 per cent year-on-year (YoY) basis, and profitability decreased due to higher costs and lower margins.

The company’s revenue for Q3FY25 was recorded at Rs 11,750.7 crore, showing a marginal 0.4 per cent YoY rise.