New Peak in Share Price
On 3 February 2026, Jindal Steel Ltd. touched an intraday high of Rs.1170.65, setting both a new 52-week and all-time high for the stock. This peak represents a substantial increase from its 52-week low of Rs.751.45, underscoring a robust upward trajectory over the past year. The stock opened with a gap up of 2.22% and continued to gain throughout the trading session, closing with a day change of +1.53% despite underperforming its sector by 0.48% on the day.
Recent Performance and Momentum
Jindal Steel has been on a positive run, registering gains for two consecutive days and delivering a cumulative return of 3.32% during this period. The stock is trading comfortably above its key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages, signalling sustained bullish momentum. This technical strength is a key factor supporting the stock’s recent rally.
Sector and Market Context
The ferrous metals sector, encompassing steel, sponge iron, and pig iron, gained 2.06% on the day, outperforming Jindal Steel’s 1.53% rise. While the broader Sensex index experienced volatility—opening 3,656.74 points higher before retreating by 1,258.60 points to close at 84,064.60, down 2.94%—Jindal Steel’s performance stands out as a bright spot within its industry. The Sensex remains 2.49% below its own 52-week high of 86,159.02, with mega-cap stocks leading the market gains.
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One-Year Performance Comparison
Over the past year, Jindal Steel Ltd. has delivered a remarkable total return of 41.50%, significantly outperforming the Sensex’s 8.91% gain during the same period. This outperformance highlights the company’s resilience and growth within the ferrous metals sector, which has been buoyed by demand dynamics and pricing trends in steel and related products.
Mojo Score and Rating Update
MarketsMOJO assigns Jindal Steel a Mojo Score of 51.0, reflecting a Hold rating. This marks an improvement from its previous Sell grade, which was changed on 11 November 2025. The Market Cap Grade remains at 1, indicating the company’s relatively modest market capitalisation compared to larger peers. These metrics provide a balanced view of the stock’s current standing, combining technical momentum with fundamental considerations.
Technical Indicators and Moving Averages
Jindal Steel’s trading above all major moving averages is a positive technical signal. The stock’s position above the 200-day moving average is particularly noteworthy, as it often serves as a long-term trend indicator. This technical setup suggests that the recent rally is supported by sustained buying interest and a favourable market structure.
Sector Dynamics and Relative Performance
While Jindal Steel’s gains on the day were slightly below the sector average, the ferrous metals industry’s overall strength contributed to the stock’s upward momentum. The sector’s 2.06% gain reflects ongoing demand for steel and allied products, driven by infrastructure development and industrial activity. Jindal Steel’s ability to keep pace with these sectoral trends reinforces its position as a key player in the industry.
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Summary of Key Metrics
To summarise, Jindal Steel Ltd. has demonstrated strong price appreciation, reaching Rs.1170.65 as its new 52-week high. The stock’s recent gains have been supported by positive technical indicators and sectoral tailwinds, despite a broader market pullback. Its one-year return of 41.50% significantly outpaces the Sensex, reflecting the company’s robust performance within the ferrous metals industry.
Market Capitalisation and Trading Activity
Although the company holds a Market Cap Grade of 1, indicating a smaller market capitalisation relative to mega-cap peers, its trading activity has shown resilience. The stock’s ability to maintain gains above key moving averages and its recent consecutive positive sessions highlight sustained investor confidence in its valuation levels.
Conclusion
Jindal Steel Ltd.’s achievement of a new 52-week high at Rs.1170.65 marks a significant milestone in its market journey. Supported by strong technical momentum, sectoral strength, and improved rating metrics, the stock’s performance over the past year has been noteworthy. While the broader market experienced volatility, Jindal Steel’s steady ascent underscores its position as a prominent player in the ferrous metals sector.
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