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TRADING DESK

While the stock price came down by over 10 per cent during last week, in line with the market trend, the company has posted a good set of numbers for FY06.

Total income has increased by 15.6 per cent to Rs 591.9 crore, while the net profit increased by 65.7 per cent during the same period to Rs 107.9 crore.

Stock of the week  

Jindal Stainless
Last week's close (Rs)	82.55
Previous week's close (Rs)	85.95
Week's high (Rs)	88.00
Week's low (Rs)	62.50
Last week's avg daily turnover (Rs crore)	1.32
Previous week's avg daily turnover (Rs crore)	0.99
Number of up/down move	1/4

The stock price of Jindal Stainless shot up 24.6 per cent on Friday to close at 82.55. The company had posted good March FY06 quarter results, even as the bottomline for the full year, showed a degrowth.

Net sales for the quarter increased by 16.9 per cent to Rs 827 crore, while net profit increased by 56 per cent to Rs 32.7 crore.

Earlier in May, the shareholders of the company had approved the scheme of arrangement proposed among Jindal Stainless, Austenitic Creations Pvt Ltd and Jindal Architecture.