Jindal Drilling & Industries Ltd

CMP : 488


Jindal Drilling & Industries Ltd. explores for and produces oil and gas properties in the offshore areas of India.

Jindal Drilling is a decent pick in mid-cap space. Its revenues have grown big in the last 5 years. Its NPM has grown slowly closing in on 10%. Considering all that, P/E of 10 looks like a good buy while its peers trade higher. It should find strong support at 450 - 460 levels and has bounced back off those levels in the past. If NPM picks up, it should do great in coming years. Its a good safe investment diversity. Buy and accumulate on dips of 10%.