2,300 per cent returns: Multibagger iron & steel stock hits 52-week high after supplying special alloy steel grade in motor casing in Chandrayaan 3!
The stock gave multibagger returns of 250 per cent in just 1 year, 750 per cent returns in 3 years and a whopping 2,300 per cent over a decade. I
India’s largest stainless-steel manufacturer, Jindal Stainless Ltd, has developed and supplied a special, high-strength alloy steel grade that has been used in the motor casing of India’s ambitious third lunar mission, the Chandrayaan-3. The specialised grade supplied to the Indian Space Research Organisation (ISRO), usually imported from several countries, has been meticulously developed over a span of 3 years with the help of an advanced refining process, bolstering India’s race to space while meeting the stringent quality standards and specifications of the crucial project. The heat-resistant alloy steel grade shields the motor from extreme temperatures and shocks, making it reliable for space missions.
Commenting on the landmark development, The Managing Director of Jindal Stainless, Mr Abhyuday Jindal said, “The successful landing of the Chandrayaan-3 is historic and we are proud to play our part in this mission. This strengthens the Atmanirbhar Bharat story as we have provided the indigenously developed best-in-class quality material to this nationally important project through constant innovation. Jindal Stainless is committed to fulfilling the niche material requirements of the aerospace sector in the future.”
Jindal Stainless is a leading supplier of materials for key DRDO and ISRO projects. The company has a long history of providing high-quality materials for some of India's most important defense programs. Jindal Stainless is also working to meet the material requirements of upcoming missile programs. The company is among the select few companies in the world to have achieved AS 9100D certification, a quality management system for aviation, space, and defense organizations.
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On Thursday, shares of Jindal Stainless Ltd zoomed 1.50 per cent to make a new 52-week high of Rs 437.70 per share. The stock is hitting back-to-back 52-week highs in the recent trading sessions.
The stock gave multibagger returns of 250 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.