Why did the Jindal Stainless stock rally so sharply on 22 July?
Answer
Answer
Jindal Stainless rallied 19% on 22 July and is up nearly 75% in the last 3 months. While the stock has gained from the steel rally, its latest spurt was attributed to their decision to jointly unearth chrome ore locked up in the boundary between JSL mines and Tata Steel mines in Sukinda, Odisha. This will conserve chromite ore which will benefit JSL, Tata Steel Mining and the Odisha government.