Jindal Steel & Power fell 1.60% to Rs 630 at 11:53 IST on BSE, after net profit slumped 32.2% to Rs 305.01 crore in Q2 September 2009 over Q2 September 2008.
Meanwhile, the BSE Sensex was up 35.51 points, or 0.22%, to 15,931.79.
On BSE, 9.39 lakh shares were traded in the counter as against an average daily volume of 6.54 lakh shares in the past one quarter.
The stock hit a high of Rs 638.60 and a low of Rs 600 so far during the day. The stock had hit a 52-week high of Rs 778 on 21 October 2009 and a 52-week low of Rs 106.34 on 20 November 2008.
The stock has fallen 9.98% in three trading sessions from a recent high of Rs 698.70 on 28 October 2009.
The large-cap stock had outperformed the market over the past one month till 30 October 2009, rising 8.97% as compared to the Sensex's 7.18% fall. It had also outperformed the market in the past one quarter, gaining 27% as compared to the Sensex's return of 3.30%.
The company's equity capital is Rs 93.08 crore. Face value per share is Rs 1.
The current price of Rs 630 discounts the company's Q2 September 2009 annualized EPS of Rs 13.11, by a PE multiple of 48.05.
Jindal Steel & Power's net sales fell 28% to Rs 1596.53 crore in Q2 September 2009 over Q2 September 2008. The company announced the results on Saturday, 31 October 2009.
On a consolidated basis, the company's net profit rose 6.05% to Rs 808.36 crore on 13.58% fall in net sales to Rs 2490.41 crore in Q2 September 2009 over Q2 September 2008.
Jindal Steel & Power is the lowest cost coal-based sponge iron producer in the country with captive coal and iron ore mines in Chhattisgarh and Orissa, respectively. Sponge iron is an intermediary product used in the making of steel.