Jindal Stainless Steel jumps over 3% on supplying stainless steel for Vande Bharat sleeper coaches

Jindal Stainless has supplied stainless steel for the Vande Bharat sleeper coaches. The company has supplied high-strength tempered 301 LN grade austenitic stainless steel for this prestigious government project. The coaches are manufactured by Integral Coach Factory (ICF) and Bharat Earth Movers (BEML). The Vande Bharat sleeper train is designed for overnight journeys covering 800 km to 1,200 km.

Apart from providing better performance and durability, the tempered 301LN austenitic stainless steel used to manufacture these coaches ensures lower life-cycle costs due to its corrosion resistance characteristics, resulting in long-term reliability. It also enhances passenger safety with its superior crash and fire resistance properties, maintaining the safety standards in railway transport.

With the capability to achieve speeds of up to 160 km/h, these coaches will offer an unparalleled combination of mobility, comfort, and contemporary amenities. The first batch of coaches is scheduled for dispatch from BEML’s Bengaluru plant on September 20, 2024, with an official launch anticipated by December 2024.

In the latest quarterly results, slight decline in the revenue of ₹ 9584 crore was seen for the June 2024 quarter as against ₹10,027 crore during the year-ago period. The Company's Net profit for the June 2024 quarter has declined 13% to ₹578 crore as against ₹665 crore reported during the corresponding quarter. The company reported a degrowth in operating Profit to ₹1064 crore from ₹1162 crore.

Jindal Stainless (JSL) is one of the largest stainless steel conglomerates in India and ranks amongst the top 10 in the world. The company is the largest manufacturer of stainless steel in 200, 300, 400 and duplex stainless steel series, which has applications across different sectors spanning Building & Construction,Automobile, Railways,Consumer Durable, Process Industries.

The share price of Jindal Stainless Steel are currently trading 1% higher on the NSE at ₹726 apiece after touching an intraday high of ₹744 apiece.