Jindal Stainless share price rises nearly 1% on block deal; check details

Shares of Jindal Stainless (JSL) increased as much as 1% on Thursday, February 6, after reports of a block deal worth ₹102.7 crore surfaced.

According to a report, as much as 16.2 lakh company shares, making up a 0.2% stake, changed hands in the block deal window. Shares changed hands at an average price of ₹635, largely at par with Wednesday's closing price.

During the intraday trade, Jindal Stainless was trading at ₹637.50 apiece, rising 0.52% on BSE.

The fall in net profit came on the back of increased expenses and subsidised dumping of inferior quality steel products by countries with surplus capacities.

However, the company’s total income for the three months ended December 31, 2024, increased 9.16% to ₹10,006.41 crore, compared to ₹9,166.42 crore in the same period a year earlier (Q3 FY24).

The stainless steel manufacturer’s revenue for Q3 FY25 stood at ₹9,907 crore, jumping 8.5% from ₹9,127 crore last year.

Its expenses increased to ₹9,101.90 crore during the period under review, up 10.16% from ₹8,262.66 crore in Q3 FY24.

Its EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortisation) fell 3.1% to ₹1,208 crore from ₹1,246 crore.