Stocks

Jindal Steel & Power shares surge over 4% on debt revamp plan

Internet Desk | Updated on September 25, 2020 Published on September 25, 2020

The Jindal Steel & Power's shares have gained 4.75 per cent to trade at ₹172 on Friday deals.

Earlier, the company's Managing Director, VR Sharma, in an exclusive interview to BusinessLine said on its business strategies and debt revamp plan.

 

He said the company would be cutting debt to half by FY23 as a part of its efforts to evolve with the changing nature of business. The group will also completely shift away from coal mining and will instead focus on processing at gasification units and sourcing from Coal India Ltd.

The scrip has hit a 52-week high of ₹238.75 on August 20 this year.

The stock has the market capitalisation of ₹15,743 core with P/E ratio of 18.63. As per the data available, the book value of the stock is ₹232.

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

Published on September 25, 2020
This article is closed for comments.
Please Email the Editor