Meanwhile, the BSE Sensex was down 60.16 points, or 0.35%, to 17,133.39
On BSE, 60,446 shares were traded in the counter as against an average daily volume of 1.62 lakh shares in the past one quarter.
The stock hit a high of Rs 561.25 and a low of Rs 540.25 so far during the day. The stock had hit a 52-week low of Rs 435.55 on 29 December 2011. The stock had hit a 52-week high of Rs 723.50 on 6 April 2011.
The stock had outperformed the market over the past one month till 31 January 2012, rising 19.69% compared with Sensex's 11.25% return. The scrip, however, underperformed the market over the past one quarter, falling 3.61% as against Sensex's 2.89% fall.
The large-cap steel and power producer has an equity capital of Rs 93.48 crore. Face value per share is Re 1.
As per reports, Jindal Steel & Power (JSPL) is set to buy a majority 60% stake for an undisclosed sum in Gopalpur Ports, the company building a new port at Gopalpur in Orissa. The company is looking for a maritime gateway to ship the raw materials required for its steel and power plant coming up in Orissa.
JSPL and Gopalpur Ports are yet to sign the share purchase agreement, which will happen by end of February or early March, reports added. JSPL will buy the stake from Sara International and Orissa Stevedores, the original promoters of Gopalpur Ports.
The equal joint venture between Sara International and Orissa Stevedores had been awarded the port project by the Orissa government in September 2006 for development and operations for an initial period of 30 years and extendable by another 20 years, reports added. JSPL will also buy another 10% stake from Orissa Stevedores. Hence, after the deal, Gopalpur Ports will be 60% owned by JSPL and 40% by Orissa Stevedores.
Gopalpur Ports is being developed with an investment of over Rs 2,000 crore in three phases with a capacity to load 40 million tonnes (mt) of cargo a year.
JSPL's consolidated net profit rose 6.5% to Rs 996.68 crore on 37.4% increase in net sales to Rs 4354.51 crore in Q3 December 2011 over Q3 December 2010.
JSPL is one of India's major steel producers, with a significant presence in sectors like mining, power generation and infrastructure.