Earning Calendar for January 2018- Jindal Stainless Ltd

Jindal Stainless Ltd is an ISO: 9001, ISO: 14001 and OHSAS 18001 certified company, is the flagship company of the Jindal Organization. The Company today, has come a long way from its incorporation in 29th September of the year 1980 as Jindal Ceramics Limited. The Company is India's largest stainless steel manufacturer with integrated melting, hot rolling and cold rolling facilities. The company produce standard and specialty stainless steel, in each of the 200, 300 and 400 series grades, for Kite ware, commercial and industrial applications. The company manufactures and sells a broad range of stainless steel flat products including slabs, blooms, flat bars, hot rolled and cold rolled coils, plates and sheets and special products including, precision strips and coin blanks. The Hisser plant of the Jindal Group was established in 1975 when Shri O.P Jindal envisioned a self-reliant India for meeting its stainless steel demand. Stainless steel then was no less than a luxury metal and India was completely dependent on imports to fulfill its demand which attracted duties of up to 300%. 
The Company received approval from the Orissa Industrial and Infrastructure Development Corporation Limited (OIIDCO) on 24th September, 2016 with respect to transfer / right to use the land on which Hot Strip Mill (HSM) and Coke Oven Plant is located from the Company to Jindal United Steel Limited and Jindal Coke Limited respectively and consequent thereupon, Sections III and IV of the Scheme became operative with effect from the Appointed date close of business hours before midnight of 31/March/2015 and accordingly effect of the same has been given in the financial results of the Company during the financial year 2015-16. 
  • The Company has been able to improve its performance significantly during the year 2017-18 despite the adverse global position of Stainless Steel industry. 
  • The company had clocked Rs 53 crore profits after tax for the same quarter in the previous year, it said in a BSE filing. 
Fundamental Analysis 
Jindal Stainless (Hisser) has a market capitalization of 5648.20 crore and turnover of 6,311.02crore.The above financial results of the Company for the year ended 31st March, 2016 are not comparable with the financial results for the year ended 31st March, 2015 as the financial results for FY 2015-16 have been revised to give effect to the terms of Sections III and IV of the Scheme of Arrangement (“Scheme”) amongst the Company, Jindal Stainless (Hisser) Limited, Jindal United Steel Limited and Jindal Coke Limited which was approved by the Hon’ble High Court of Punjab and Haryana at Chandigarh vide its order dated 21st September, 2015 (as modified on 12th October, 2015). The certified copy of the said order was filed with the office of the Registrar of Companies on 1st November, 2015 
Foraying into Uncharted Routes 
  • 350 liter capacity Stainless Steel fuel tanks being commercialized by Ashok Leyland. 
  • Stainless steel fuel tanks being developed by Volvo Eicher Commercial vehicles. Stainless Steel fuel tanks being developed for Tata Motors for export vehicles. 
  • With the implementation of BS 4 emission norms, the particulate matter and NOX emissions in commercial vehicles have to be reduced by 50% each from the BS 3 levels 
  • The Company has in place adequate internal financial controls with reference to financial statements. During the year, such controls were tested and no reportable material weakness in the design or operation was observed. 
  • The Company has been able to improve its performance significantly during the year 2015-16 despite the adverse global position of Stainless Steel industry. 
  • The Company has already embarked on the journey of digitization. The achievements of IT and SAP in 2015-2016 is earmarked for its effort and contribution in making smooth transition of the transactions and processes according to the business restructuring. 
Technical Analysis 
The break out of rounding bottom pattern is expected above 240. The stock showing higher low higher high chart pattern daily and Weekly chart.Stock has jumped by more than 15% in last One Month from its lowest level of 196.9 dt 13-Dec-17. The stock is making strong moves on recent weekly chart. Such movements may give an opportunity for short term trading. Volume is used to confirm strength in current trend and is an indicator to identify trend reversal. Any price trend supported with volume movement is considered as reliable. The higher the volume the bigger market participation is which means a larger mass is validating price movement and it will take much stronger news to change the direction of the trend. 
  • 21 day EMA works as a strong support and stock is likely to bounce back if it fell down on 21 day EMa 
  • 130 is the strong support level and should be hold buy the stock in order to continue strong up trend. 
Buy Jindal Stainless (Hisar) above 235 is recommended and watch for the break out above 241, if it breaks then add more shares and wait for the target of 280-320, it may achieve till the end of the Quarterly month. 
Supports and Resistance (Monthly) 
  • Resistance 1- 462 Supports 1- 188 
  • Resistance 2- 357 Supports 2- 124 
  • Resistance 3- 293 Supports 3- 60
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