FIIs bought 3,51,710 shares & DIIs bought 13,331 shares: Jindal Group-Textile & EV -Stock Hit 20 Per Cent Upper Circuit With Volume Spurt
The stock is up by 45 per cent from its 52-week low of Rs 268 per share and gave multibagger returns of 3,450 per cent in 10 years.
On Tuesday, shares of Jindal Worldwide Ltd hit a 20 per cent upper circuit to Rs 387.80 per share from its previous closing of Rs 323.20 per share with a spurt in volume by more than 13 times. The stock’s 52-week high is Rs 439.80 per share and its 52-week low is Rs 268.
Jindal Worldwide Ltd is a diversified conglomerate with a significant presence in the textile and electric vehicle sectors. The company's textile division specializes in manufacturing high-quality denim fabric, premium shirtings, yarn-dyed fabrics, and bottom weights. In the electric vehicle sector, Jindal Mobilitics is focused on producing electric two-wheelers, leveraging its production capacity of 2.5 lakh units per annum. The company's acquisition of Earth Energy in 2022 further strengthens its position in the EV market, enabling it to expand its manufacturing footprint and contribute to India's growing electric mobility ecosystem.
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According to Quarterly Results, the net sales increased by 47 per cent to Rs 570.81 crore and net profit increased by 36 per cent to Rs 17.32 crore in Q2FY25 compared to Q2FY24. In its half-yearly results, the net sales increased by 33 per cent to Rs 1,063.30 crore and net profit increased by 34 per cent to Rs 35.39 crore in H1FY25 compared to H1FY24. In FY24, the net sales decreased by 12 per cent to Rs 1,814.09 crore and net profit decreased by 35 per cent to Rs 75.86 crore in FY24 compared to FY23.
The company has a market cap of Rs 7,776 crore and has delivered good profit growth of 20.5 per cent CAGR over the last 5 years. FIIs bought 3,51,710 shares & DIIs bought 13,331 shares and increased their stake to 0.21 per cent and 0.03 per cent respectively in September 2024 compared to June 2024. The stock is up by 45 per cent from its 52-week low of Rs 268 per share and gave multibagger returns of 3,450 per cent in 10 years. Investors should keep an eye on this small-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.