JSPL gains 3% on order win from Indian Railways

Shares of Jindal Steel & Power (JSPL) gained 3 percent intraday after company bags additional order from Indian Railways.

The company has been awarded an additional order for supply of 30,000 tonnes, in addition of bagging its first ever order from Indian Railways for supply of close to 1 lakh tonne in 2018.

The additional order enhances the order size by over 30 percent, with the overall order size now estimated at around Rs 650 crore.

Naushad Ansari, Joint MD at JSPL said, “Company endeavors to emerge as the most preferred supplier of Rails to Indian Railways for building and modernizing domestic rail network.”

At 10:50 hrs Jindal Steel & Power was quoting at Rs 139.95, up Rs 1.35, or 0.97 percent on the BSE.

The share touched its 52-week high Rs 270.80 and 52-week low Rs 123.30 on 26 February, 2018 and 06 February, 2019, respectively.

Currently, it is trading 48.32 percent below its 52-week high and 13.5 percent above its 52-week low.

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