2,000 per cent multibagger returns: Iron & steel company supplies stainless steel for Vande Bharat sleeper train manufactured by BEML Ltd & ICF
The stock gave multibagger returns of 450 per cent in just 2 years and a whopping 2,000 per cent in 5 years.
Jindal Stainless Ltd, India’s leading stainless steel manufacturer, has supplied stainless steel for the Vande Bharat sleeper coaches, the prototype of which was unveiled by the Minister of Railways, Shri Ashwini Vaishnaw, in Bengaluru recently. Jindal Stainless has supplied high-strength tempered 301LN grade austenitic stainless steel for this prestigious government project. The coaches are manufactured by Integral Coach Factory (ICF) and Bharat Earth Movers Limited (BEML). The Vande Bharat sleeper train is designed for overnight journeys covering 800 km to 1,200 km.
Apart from providing better performance and durability, the tempered 301LN austenitic stainless steel used to manufacture these coaches ensures lower life-cycle costs due to its corrosion resistance characteristics, resulting in long-term reliability. It also enhances passenger safety with its superior crash and fire resistance properties, maintaining the safety standards in railway transport.
With the capability to achieve speeds of up to 160 km/h, these coaches will offer an unparalleled combination of mobility, comfort and contemporary amenities. The first batch of coaches is scheduled for dispatch from BEML’s Bengaluru plant on September 20, 2024, with an official launch anticipated by December 2024.
Jindal Stainless is one of the leading global companies capable of manufacturing and supplying the highly-coveted 2J, No. 4 and DLT-DF special-finish stainless steel, required for metro and railway coach production. The company has supplied stainless steel for some of the most prestigious Indian railway projects, including Vande Metro, Kolkata’s underwater metro, the first trainset of India’s first Regional Rapid Transit System (RRTS), and Mumbai metro, among others. The company has been supplying stainless steel to the Indian Railways since 1998 for wagons, coaches, infrastructure, etc.
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About Jindal Stainless Ltd
India's leading stainless-steel manufacturer, Jindal Stainless, has a strong global presence with 16 manufacturing facilities and a worldwide network in 12 countries. With a consolidated annual turnover of Rs 38,562 crore (USD 4.7 billion) in FY24, the company is expanding its operations to reach a capacity of 4.2 million tonnes by 2026. Jindal Stainless offers a wide range of stainless steel products, including slabs, blooms, coils, plates, sheets, precision strips, wire rods, rebars, blade steel and coin blanks. Committed to sustainability, the company utilizes scrap in an electric arc furnace, reducing greenhouse gas emissions and promoting recyclability. With a strong focus on innovation, social responsibility and environmental stewardship, Jindal Stainless continues to be a leading force in the stainless steel industry.
On Monday, shares of Jindal Stainless Ltd plunged 0.78 per cent to Rs 720.30 per share with an intraday high of Rs 739.95 and an intraday low of Rs 715. The stock gave multibagger returns of 450 per cent in just 2 years and a whopping 2,000 per cent in 5 years. Investors should keep an eye on this iron & steel manufacturing stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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