The crossing of the 20-day SMA is a significant development, offering insights into short-term market trends and potential shifts in investor sentiment
Shares of Jindal Steel & Power Ltd (JSPL) have risen 75% from their 52-week low. The Jindal Steel stock fell to a 52-week low of Rs 377.05 on August 23, 2022. Jindal Steel stock rose to a yearly high of Rs 700 on August 11, 2023. In the previous session, Jindal Steel stock ended 0.69% higher at Rs 659.80 against the previous close of Rs 655.30 on BSE. Market cap of Jindal Steel climbed to Rs 67,305.41 crore. A total of 0.50 lakh shares of the firm changed hands amounting to a turnover of Rs 3.29 crore on BSE.
Multibagger stock: The steel stock fell to Rs 62.10 on April 3, 2020 after the Modi government announced the coronavirus lockdown to contain the rising number of Covid-19 cases.
Multibagger stock: Jindal Steel shares, which stood at Rs 212.05 on August 14, 2020, closed at Rs 662.25 on August 14 this year, clocking 212.31% returns during the period.