Buy Jindal Saw, target price Rs 80: IIFL

IIFL has buy call on Jindal Saw with a target price of Rs 80. The current market price of Jindal Saw Ltd. is Rs 77.2.
Jindal Saw Ltd., incorporated in the year 1984, is a Mid Cap company (having a market cap of Rs 2478.09 Crore) operating in Metals - Ferrous sector.

Financials
For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 2374.32 Crore, up 44.71 % from last quarter Sales of Rs 1640.79 Crore and down -11.46 % from last year same quarter Sales of Rs 2681.59 Crore. Company reported net profit after tax of Rs 79.55 Crore in latest quarter.

Investment Rationale
Stock has given a consolidation breakout on the daily chart