2,300 per cent returns: This iron & steel company becomes the first Indian corporate to participate in the India-Singapore TradeTrust eBLs project after Chandrayaan 3!

2,300 per cent returns: This iron & steel company becomes the first Indian corporate to participate in the India-Singapore TradeTrust eBLs project after Chandrayaan 3!

Kiran Shroff
/ Categories: Trending, Multibaggers

The stock gave multibagger returns of 240 per cent in just 1 year, 750 per cent returns in 3 years and a whopping 2,300 per cent over a decade.

Jindal Stainless is the first Indian corporate participating in a pathbreaking India-Singapore project to make the bilateral cross-border trade paperless and a smooth ride for all parties.

Commerce and Industry Minister Mr Piyush Goyal and his Singaporean counterpart, Mr Gan Kim Yong, today successfully kicked off the first “live” transaction of interoperable e-Bills of Lading (eBLs) from Singapore to India through TradeTrust Framework, during the G20 Trade and Investment Ministerial meeting in Jaipur, India.

The National Institute for Transforming India (NITI) Aayog and Singapore’s Ministry of Trade and Industry (MTI) have roped in, besides Jindal Stainless, ICICI Bank, Enterprise Singapore, Infocomm Media Development Authority (IMDA), DBS Bank, Maptrasco, A P Moller-Maersk for this project.

Globally, this is the first live transaction under the letter of credit utilizing eBLs in this project, powered by blockchain, under which the traders, shippers and banks are involved in the transaction of an actual shipment that will be fully paperless across geographies and through different platforms.

Earlier, Jindal Stainless Ltd, India's largest stainless-steel manufacturer, created a high-strength alloy steel for Chandrayaan-3's motor casing. Developed over 3 years, this heat-resistant grade aids ISRO by meeting quality standards, enhancing India's space endeavours.

Want more insightful stories along with recommendations?
Get a 3-month subscription to experience the power of our flagship DSIJ Magazine (online edition) for just Rs 800/- Click here to subscribe now

On Friday, shares of Jindal Stainless Ltd plunged 1.42 per cent to Rs 420.65 per share with an intraday high of Rs 434.40 and an intraday low of Rs 420.

The stock gave multibagger returns of 240 per cent in just 1 year, 750 per cent returns in 3 years and a whopping 2,300 per cent over a decade. Investors should keep an eye on this iron & steel manufacturing stock.

Disclaimer: The article is for informational purposes only and not investment advice. 

Previous Article Rs 54,000 crore order book: This construction company receives orders worth Rs 723.90 crore from Raichur Power Corporation & Madhya Pradesh State Mining Corporation!
Next Article Top 15 penny stocks that turned multibaggers in just 6 months; do you own any?
Rate this article:
3.8

DALAL STREET INVESTMENT JOURNAL - DEMOCRATIZING WEALTH CREATION

Principal Officer: Mr. Shashikant Singh,
Email: principalofficer@dsij.in
Tel: (+91)-20-66663800

Compliance Officer: Mr. Rajesh Padode
Email: complianceofficer@dsij.in
Tel: (+91)-20-66663800

Grievance Officer: Mr. Rajesh Padode
Email: service@dsij.in
Tel: (+91)-20-66663800

Corresponding SEBI regional/local office address- SEBI Bhavan BKC, Plot No.C4-A, 'G' Block, Bandra-Kurla Complex, Bandra (East), Mumbai - 400051, Maharashtra.
Tel: +91-22-26449000 / 40459000 | Fax : +91-22-26449019-22 / 40459019-22 | E-mail : sebi@sebi.gov.in | Toll Free Investor Helpline: 1800 22 7575 | SEBI SCORES | SMARTODR