Amazon Great Indian Festival 2020 - Electronics
Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
Amazon Great Indian Festival 2020 - Electronics
Stock Report

| More

CARE Ratings reaffirms 'CARE A-' rating with stable outlook for Jindal Stainless (Hisar) Limited

Posted On: 2020-09-16 06:07:38


The long-term credit facilities of Jindal Stainless (Hisar) Limited (JSHL) have been reaffirmed at 'CARE A-' rating with a stable outlook by CARE Ratings. The shortterm credit facilities of the Company have also been reaffirmed at 'CARE A2+' rating. JSHL's rating was retained in light of the Company maintaining an accomplished track record in financial and operational domains. Additionally, JSHL's strength to serve diversified end-user industries, with an emphasis on value-added products, has proved to be favourable in the rating analysis of the Company. A healthy per-tonne operating profit, coupled with debt reduction and improved cashflow, weighed positively for the Company on the rating scale.

Commenting on this development, Managing Director, JSHL, Mr Abhyuday Jindal said, "This development reinforces the strong fundamentals of JSHL. The operational capabilities of our Hisar facility stand unmatched in the domestic market and our high-end specialty products are acknowledged across the world. An overall steady performance and a diversified product portfolio were considered as strong parameters by CARE Ratings. I am confident that the government initiatives for ascertaining a level-playing field to the domestic manufacturers will help the industry emerge stronger."

In the CARE Ratings report, JSHL's key rating drivers have been stated as, "improved sales realizations from the value-added steel segments (comprising of 300-grade and 400-grade) resulted in an improvement in PBILDT per tonne from Rs. 14,894 in FY19 to Rs. 15,945 in FY20. The PAT margin improved from 2.89% in FY19 to 3.80% in FY20 as a result of better PBILDT margin and relatively lower interest expense. JSHL is engaged in the production of all grades of stainless steel namely, 200-grade, 300-grade and 400-grade. The 200-grade finds application in utensils, household goods, kitchen appliances, tubes, pipes, etc. the company also manufactures 300-grade, which finds application in railway coaches, high temperature applications, power plants and 400 grade, which finds application in razor blades, coins, automobiles and consumer durables. The company also makes speciality stainless steel and other value-added products which yield relatively higher returns compared to other commoditized stainless-steel products."

Shares of Jindal Stainless (Hisar) Ltd was last trading in BSE at Rs.93.3 as compared to the previous close of Rs. 88.7. The total number of shares traded during the day was 80410 in over 2408 trades.

The stock hit an intraday high of Rs. 94.6 and intraday low of 88.5. The net turnover during the day was Rs. 7447267.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com

Amazon Great Indian Festival 2020 - Mobiles





Other Headlines:

Mastek Ltd - Key Operating Highlights for Q2FY21

Butterfly Gandhimathi Appliances Ltd board to consider interim dividedn on Nov 4, 2020

Vaibhav Global Ltd Board declares Second Interim Dividend of Rs. 5

Mastek Ltd board declares interim dividend of Rs. 5.50 for FY21

Mastek Ltd Q2FY21 consolidated net profit rises to Rs. 50.95 crore

Vedavaag Systems Ltd Q2FY21 consolidated net profit at Rs. 1.50 crore

Welspun India Ltd reports consolidated PAT of Rs. 179.70 crore in Q2FY21

Vaibhav Global Ltd Q2FY21 consolidated PAT climbs to Rs. 70.55 crore

Strides Pharma Science Ltd Q2FY21 consolidated net profit lower at Rs. 80.94 crore

Shriram Transport Finance Company Ltd Board declares Interim Dividend of Rs. 6

Zensar Technologies Ltd Q2FY21 consolidated PAT plunges to Rs. 0.50 crore

MCX and IEX signed licensing agreement for launch of electricity derivatives in India

Shriram Transport Finance Company Ltd announces Q2FY21 results

TATA Chemicals reports Q2FY21 earnings

De Nora India Ltd Q2 net profit at Rs. 0.14 crore

AEGIS Logistics Ltd Q2FY21 consolidated net profit soars to Rs. 56.96 crore

PTC India Financial Services Ltd posts consolidated PAT of Rs. 31.85 crore in Q2FY21

South India Paper Mills Ltd Q2FY21 net profit at Rs. 6.99 crore

Blue Dart announces Q2 results, Sales at ₹864.42 crores

Kranti Industries Ltd signs MoU with Brembo Brake India Pvt Ltd.

Vodafone Idea Limited reports earnings for Q2FY21

Thomas Cook India & SOTC Introduce Attractive Air Inclusive Holidays - Partner with IndiGo to launch Crazy Deals IndiGo Special

Indian Energy Exchange Limited signs license agreement with MCX

Surya Roshni Ltd board declares interim dividend of Rs. 1.50

Security & Intelligence Services India Ltd Q2FY21 consolidated PAT soars to Rs. 108.08 crore

Purity Flex Pack Ltd Q2FY21 PAT jumps to Rs. 2.39 crore

Surya Roshni Ltd posts consolidated PAT of Rs. 41.92 crore in Q2

Bajaj Healthcare Ltd Q2FY21 PAT jumps to Rs. 20.11 crore

TVS Motor Company Ltd Q2FY21 consolidated PAT at Rs. 179.93 crore

Orient Cement Ltd posts net profit of Rs. 34.81 crore in Q2FY21

MRPL Q2FY21 consolidated PAT at Rs. 111.63 crore

FDC Limited introduces stronger versions of Favipiravir drugs PiFLU and Favenza

Geojit launches global investment platform

RBL Bank and Visa launch instant payouts for fintechs

Chemfab Alkalis Q2FY21 net profit slides to Rs. 0.65 crore

Banaras Beads Ltd Q2 net profit at Rs. 0.86 crore

Astec LifeSciences Ltd's consolidated PAT rises to Rs. 17.84 crore in Q2FY21

GeeCee Ventures Ltd Q2FY21 consolidated net profit at Rs. 2.34 crore

JK Paper Ltd to raise Rs. 260 crore through NCDs

TCS Launches #ThisRun, a Unique Global Community for Runners

Wipro and IBM strengthen relationship; announce the expansion of IBM Hybrid Cloud Practice

Laurus Labs Ltd Board approves dividend of Rs. 0.80

Sunteck Realty Ltd affirmed 'AA-/Stable' long-term and 'A1+' short-term rating by ICRA

Wonderla Theme Park and Resort set to reopen in Bangalore, dedicates first week for COVID-19 Warriors

Canara Bank Q2FY21 consolidated PAT at Rs. 465.88 crore

Andhra Paper Ltd reports loss of Rs. 15.93 crore in Q2FY21

JK Paper Ltd posts Rs. 33.40 crore consolidated PAT in Q2FY21

Saint-Gobain Sekurit India Ltd Q2 net profit at Rs. 2.12 crore

Amarjothi Spinning Mills Ltd Q2FY21 consolidated PAT surges to Rs. 6.16 crore

Ultracab India Ltd posts net profit of Rs. 0.45 crore in Q2







Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2019