Jindal Stainless jumps over 3.50% after ELM Park Fund sells stake to Virtuous Tradecorp

Jindal Stainless Share Price: Jindal Stainless jumped over 3.50 per cent in morning deals on BSE on Friday (March 1, 2024) as its public shareholder ELM Park Fund sold 0.4 per cent stake in the Jindal group company. 

The stock of the stainless steel company was trading higher by 3.32 per cent, or Rs 21.25, at Rs 661.00 at 9:41 am on Friday.

The stock's day's high was Rs 662.15, a 3.41 per cent rise from the previous close of Rs 639.75.

Jindal Stainless' stake sold

ELM Park Fund has sold its 32.50 lakh shares worth Rs 210 crore in Jindal Stainless to promoter group Virtuous Tradecorp. After the deal, ELM Park Fund's stake in the Jindal group company was reduced from 6.71 per cent to 6.31 per cent. The deal has been made at Rs 647.10 per share.    

Kushal Gupta's call on Jindal Stainless

Zee Business analyst Kushal Gupta has given a 'buy' call on Jindal Stainless with a target of Rs 670 and stop-loss at Rs 640.