Jindal Steel & Power rose 3.35% to Rs 120.35 at 9:45 IST on BSE after the company scheduled a board meeting on 30 March 2017, to consider fund raising through preferential allotment of securities.
The announcement was made after market hours yesterday, 27 March 2017.Meanwhile, the S&P BSE Sensex was up 132.01 points or 0.45% at 29,369.16.
On the BSE, 4.42 lakh shares were traded on the counter so far as against the average daily volumes of 22.94 lakh shares in the past one quarter. The stock had hit a high of Rs 121.05 and a low of Rs 117.75 so far during the day.
The stock had hit a 52-week high of Rs 131.80 on 17 March 2017 and a 52-week low of Rs 55.65 on 30 March 2016. It had underperformed the market over the past one month till 27 March 2017, sliding 6.5% compared with the Sensex's 1.47% rise. The scrip had, however, outperformed the market over the past one quarter, gaining 75.24% as against the Sensex's 11.53% rise.
The large-cap company has equity capital of Rs 91.50 crore. Face value per share is Rs 1.
Jindal Steel & Power (JSPL) said that a meeting of the board of directors of the company is scheduled to be held on 30 March 2017, to consider various modes of fund raising by way of preferential allotment of securities to different entities including the promoters/promoter group entities.
On a consolidated basis, JSPL reported net loss of Rs 407.44 crore in Q3 December 2016 as against net loss of Rs 573.48 crore in Q3 December 2015. Net sales rose 28.1% to Rs 5296.80 crore in Q3 December 2016 over Q3 December 2015.
Jindal Steel and Power (JSPL) is one of India's leading integrated steel manufacturers, significantly present in steel, power generation and Infrastructure segments and catering to a large part of India's domestic energy and infrastructure requirement.
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