Jindal Saw advanced 1.81% to Rs 700.20 after the company's board has approved the stock split of existing equity shares having face value of Rs 2 each into equity shares with face value of Re 1 each.
The said stock split will enhance the liquidity of the company's equity shares and to encourage the participation of retail investors by making equity shares of the company more affordable to invest.The said stock split will be completed till 30th November 2024.
Jindal Saw is engaged in a leading manufacturer and supplier of Iron & Steel pipes and pellets having manufacturing facilities in India.
The companys consolidated net profit jumped 66.69% to Rs 441.06 crore in Q1 FY25 as against with Rs 264.60 crore posted in Q1 FY24. Total income grew by 12.08% year on year to Rs 4,984.81 crore during the quarter.
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