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Jindal Steel & Power Ltd extends losses

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Jindal Steel & Power Ltd is down for a fifth straight session today. The stock is quoting at Rs 190.8, down 3.78% on the day as on 09:59 IST on the NSE. The benchmark NIFTY is down around 0.1% on the day, quoting at 11493.4. The Sensex is at 38820.42, down 0.07%.Jindal Steel & Power Ltd has lost around 15.5% in last one month.Meanwhile, Nifty Metal index of which Jindal Steel & Power Ltd is a constituent, has eased around 7.45% in last one month and is currently quoting at 2362.2, down 1.03% on the day. The volume in the stock stood at 20.36 lakh shares today, compared to the daily average of 103.33 lakh shares in last one month.

The benchmark September futures contract for the stock is quoting at Rs 191, down 3.73% on the day. Jindal Steel & Power Ltd jumped 72.28% in last one year as compared to a 0.92% slide in NIFTY and a 7.45% fall in the Nifty Metal index.

The PE of the stock is 22.53 based on TTM earnings ending June 20.