Strong Rally Amid Market Volatility
On 24 Feb 2026, Jindal Steel Ltd. (Stock ID: 338854) reached Rs.1238, marking a significant milestone as it eclipsed its previous 52-week peak. This new high comes amid a broader market environment where the Sensex declined sharply by 1.35%, closing at 82,170.06, down 882.48 points from the previous session. Despite the Sensex’s retreat and trading below its 50-day moving average, Jindal Steel demonstrated resilience by outperforming its sector by 0.82% on the day.
The stock has recorded gains for three consecutive sessions, accumulating a 2.13% return during this period. This steady upward trajectory has been supported by the stock trading above all key moving averages — including the 5-day, 20-day, 50-day, 100-day, and 200-day averages — signalling sustained buying interest and positive technical momentum.
Year-on-Year Performance Highlights
Over the last 12 months, Jindal Steel Ltd. has delivered a remarkable 43.08% return, substantially outperforming the Sensex’s 10.35% gain over the same period. This outperformance highlights the company’s strong positioning within the ferrous metals industry and its ability to capitalise on favourable market conditions. The stock’s 52-week low was Rs.770, underscoring the significant appreciation investors have witnessed in less than a year.
Mojo Score and Rating Upgrade
Reflecting the stock’s improved fundamentals and market performance, Jindal Steel’s Mojo Score currently stands at 58.0, categorised as a Hold. This represents an upgrade from its previous Sell rating, which was revised on 11 Nov 2025. The company’s market capitalisation grade remains at 2, indicating a mid-cap status within the ferrous metals sector.
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Technical Indicators Confirm Uptrend
The stock’s position above all major moving averages is a strong technical indicator of its upward momentum. Trading above the 200-day moving average is particularly significant, as it often signals a long-term bullish trend. The 5-day and 20-day averages also support short-term strength, suggesting that recent buying interest is well sustained.
In contrast, the Sensex remains below its 50-day moving average, although the 50-day average itself is above the 200-day average, indicating a mixed but cautiously optimistic market backdrop. Jindal Steel’s ability to buck the broader market trend and maintain gains highlights its relative strength within the ferrous metals sector.
Sector Context and Market Capitalisation
Operating within the ferrous metals industry, Jindal Steel Ltd. is positioned in a sector that has experienced varied performance amid global commodity price fluctuations and domestic demand shifts. The company’s market cap grade of 2 places it in the mid-cap category, reflecting a balance between growth potential and established market presence.
Its Mojo Grade of Hold, upgraded from Sell, reflects a stabilisation in its financial and operational metrics, aligning with the recent price appreciation. This rating adjustment on 11 Nov 2025 coincides with the stock’s improved trend and investor confidence.
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Summary of Key Metrics
Jindal Steel Ltd.’s new 52-week high of Rs.1238 represents a 60.8% increase from its 52-week low of Rs.770. The stock’s three-day consecutive gains and outperformance of the sector by 0.82% on the latest trading day further underscore its positive momentum. The Mojo Score of 58.0 and upgraded Hold rating reflect a balanced view of the company’s current standing within the ferrous metals sector.
While the broader market has faced pressure, Jindal Steel’s technical strength and year-on-year returns of 43.08% highlight its capacity to deliver value amid challenging conditions. The stock’s trading above all major moving averages confirms the robustness of its rally and suggests continued investor confidence in its market positioning.
Market Environment and Comparative Performance
The Sensex’s decline of 1.35% on 24 Feb 2026 contrasts with Jindal Steel’s upward trajectory, emphasising the stock’s relative strength. Although the benchmark index remains 4.85% below its own 52-week high of 86,159.02, Jindal Steel has already surpassed its previous peak, signalling a noteworthy divergence from broader market trends.
This divergence may be attributed to sector-specific factors and company-level developments that have supported Jindal Steel’s share price appreciation. The stock’s ability to maintain gains while the Sensex trades below its 50-day moving average is a testament to its resilience and underlying fundamentals.
Conclusion
Jindal Steel Ltd.’s achievement of a new 52-week high at Rs.1238 marks a significant milestone in its market journey. Supported by strong technical indicators, an upgraded Mojo rating, and substantial year-on-year returns, the stock has demonstrated considerable momentum within the ferrous metals sector. Despite a challenging broader market environment, Jindal Steel’s performance highlights its capacity to deliver sustained gains and maintain investor interest through consistent upward movement.
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