Jindal Steel & Power up 2%, hits over 10-month high in a choppy market

Monnet Power Assets, once operational, will provide an opportunity for the company to improve the heat rate, resulting in lower usage of coal in the power plant, said ICICI Securities in its report.

Shares of Jindal Steel & Power (JSPL) hit an over 10-year high of Rs 610.25, up 2 per cent on the BSE in Wednesday’s intra-day trade in an otherwise choppy market on improved outlook. The stock traded at its highest level since March 2012. In comparison, the S&P BSE Sensex was up 0.10 per cent at 60,176 at 09:38 AM.

In past six months, the market price of JSPL has zoomed 74 per cent, as against 10 per cent rally in the benchmark index. JSPL has been the top performer among mainstream ferrous players with a robust return of