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Jindal Stainless gains on starting oxygen supply for treatment of COVID-19 patients

Jindal Stainless is currently trading at Rs. 85.55, up by 2.30 points or 2.76% from its previous closing of Rs. 83.25 on the BSE.

The scrip opened at Rs. 84.70 and has touched a high and low of Rs. 86.10 and Rs. 84.25 respectively. So far 21006 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 95.95 on 12-Jan-2021 and a 52 week low of Rs. 26.25 on 28-May-2020.

Last one week high and low of the scrip stood at Rs. 87.80 and Rs. 74.50 respectively. The current market cap of the company is Rs. 4056.23 crore.

The promoters holding in the company stood at 68.12%, while Institutions and Non-Institutions held 20.53% and 11.35% respectively.

Jindal Stainless has started supplying liquid oxygen from Jajpur unit in Odisha to health facilities for the treatment of COVID-19 patients. Over 40 tonne Liquid Medical Oxygen (LMO) is being dispatched on a daily basis to meet the increasing demand in Odisha, Andhra Pradesh, and other states. In a stainless steel plant, oxygen is used as a chemical catalyst for melting the steel, besides in other processes.

Jindal Stainless is one of the largest stainless steel conglomerates in India and ranks amongst the top 10 stainless steel conglomerates in the world.

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