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The stock quoted a 52-week high of Rs 1266.95 and a 52-week low of Rs 628.1.

But equity bulls betting on a gold jeweller, with over 844 branches at last count, have managed to outshine even the yellow metal with a fascinating 801% return.

The Nifty IT index was trading 0.11 per cent up at 32644.35.

Jindal Steel & Power Ltd. key Products/Revenue Segments include Iron & Steel Items, Export Incentives, Other Operating Revenue and Scrap for the year ending 31-Mar-2022.

“If you failed to get allocations in IREDA, I would suggest doing a SIP for the next six months. Buy some now, buy some on declines and keep buying every month. It depends on your duration as an investor. The short-term traders will have made a killing. But the longer-term play is still to be invested in power lenders because they have never had it so good.”

Promoters held 63.21 per cent stake in the company as of 30-Sep-2023, while FII and DII ownership stood at 23.52 per cent and 4.8 per cent, respectively.

This occurrence is often interpreted as a potential bullish signal by traders and investors.

"Valuations, after very muted market returns and strong earnings growth over the past two years, have also turned reasonable, moving closer to the historical averages with Nifty trading at around 18.5x one-year forward earnings estimates. Overall market sentiment seems positive with broad market participation and healthy domestic flows, with the monthly SIP flows clocking $2 billion."

“Some of the trackers that our Axis Capital colleagues who cover consumer track show that FMCG baskets are 30% more expensive than they were three years back and if you have that level of inflation, then obviously,volumes will start getting affected and which perhaps is also a reason why some of the smaller manufacturers are making inroads.”