Jindal Worldwide shares down 10 percent

Bangalore: Jindal Worldwide was among the top losers, after its shares went down by nearly 10 percent. After opening the day at Rs. 244, the stock touched the day's low price of Rs. 224.25, before ending the day at Rs. 248.25, down 9.67 percent. Through the day, 5836 shares of Jindal Worldwide were traded in the market with the current P/E ratio of 62.64. The 52 week stock price chart is on the left.

Jindal Worldwide is an India-based company. The Company has diversified into various activities, such as textiles and trading of securities. During the fiscal year ended March 31, 2009 (fiscal 2009), the Company had three divisions: Jindal Denims, Jindal Hometex and JWL-Domestic. These divisions were set up for the purpose of manufacturing and trading of fabric/made ups.

Jindal Worldwide has proposed the dividend of 7.5 percent or 0.75 paise per share on equity shares of the company for the financial year 2009-2010 subject to the approval of the shareholders. Out of the 18 analysts following the stock, 5 analysts recommend to hold the stock and other 4 analysts recommended to buy the stock. The consensus recommendation is to hold the stock.