Sell Jindal Steel With Stop Loss Of Rs 655

Sell Jindal Steel With Stop Loss Of Rs 655Stock market analyst Mitesh Thacker has maintained 'Sell' rating on Jindal Steel & Power Ltd stock with targets of Rs 570 and Rs 550.

According to analyst, the investors can sell the stock with stop loss of Rs 655.

Mr. Thacker added that if the stock falls below Rs 545, it may decline further.

Today, the stock opened at Rs 622 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 778 and a low of Rs 367.40 on BSE.

Current EPS & P/E ratio stood at 15.89 and 38.50 respectively.

According to reports, JSPL, via its wholly owned arm Jindal Steel & Power, Mauritius (JSPLM) will get hold of Shadeed Iron & Steel Co., a company incorporated under the laws of the Sultanate of Oman.

JSPL announced that it has signed a definitive share purchase agreement (SPA) and other transaction documents with Shadeed Iron at $464 million comprising the assumption of liabilities.

The Bombay Stock Exchange (BSE) on May 20 announced that it has banished Grasim Industries from the Sensex, BSE-100, BSE-200 and BSE-500 indices.

In the Sensex, Grasim Industries has been replaced by Jindal Steel & Power and by Asian Paints in the BSE-100 Index.

In the BSE-200 Index, JSW Energy comes in, while in the BSE-500 Index, Persistent Systems has been included on behalf of Grasim.