Jindal Steel & Power will declare its Q1 results today. The analysts are expecting the company to register 17% growth in profit after tax. The company has recently announced the decision to by CIC Energy in an all cash deal. The stock is trading marginally higher after touching intraday high and low of Rs 420.7 and 412.7 on NSE.
As per analyst estimates, the company can see a jump of nearly 30 per cent in revenue and EBITDA growth of nearly 16 per cent.
Hemant Thukral of Aditya Birla Money has given a sell call for the stock. In an interview with CNBC-TV18, he expressed that among metal counters, Jindal Steel & Power looks the weakest stock.
Market expert SP Tulsian has also given negative views about the company.
The stock is currently trading at a P/E multiple of 18.4 and has touched 52-week high of Rs 664. The stock is hovering around its 52-week low of Rs 409.