Jindal Stainless slips on profit booking

The stock has tumbled 8.6 per cent from the day's high.

Mar 13, 2015 11:03 IST India Infoline News Service

Jindal Stainless is trading on a weak note on the back of profit taking at higher level.

Yesterday, the stock zoomed 11.4 per cent on the media reports that the government is seeking anti-dumping tax on some stainless steel imports from China.

The stock has galloped 27 per cent in last three trading sessions.

The stock today opened with a surge of 3 per cent at Rs. 46.20 - which is also recorded as the highest point of the day.

However, the stock could not hold gains and has tumbled 8.6 per cent from day's high to a low of  Rs. 42.20 as traders booked some bit of profit.

Now, the stock is down 4.6 per cent at Rs. 42.65. The BSE counter has registered trades of around 2,41,000 shares, when compared with two-week daily average volume of 428,000 shares.

Meanwhile, the Sensex has tumbled 287 points at 28,644.

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