Jindal Saw to consider stock split on Aug 14; share price jumps over 8%
At around 02:40 PM, the company's shares were trading at Rs 636.65, up nearly 6 per cent from the previous close of Rs 601.05 on the BSE
 "Jindal Saw to consider stock split on Aug 14; share price jumps over 8%")
Shares of Jindal Saw rallied 8.4 per cent to Rs 651.45, merely Rs 12 shy of its 52-week high of Rs 663.45 on the BSE during Wednesday's intra-day deal. The surge in the stock price came after the company announced that its Board of Directors will meet on Wednesday, August 14, 2024, to consider and approve the proposal for altering the equity share capital of the company by sub-dividing/splitting existing equity shares having a face value of Rs 2 each, fully paid up, into shares with a face value of Re 1 each, fully paid up, according to regulatory filings.
Earlier, on July 29, 2024, Jindal Saw reported a jump of 66.69 per cent year-on-year (Y-o-Y) in its consolidated net profit to Rs 441.06 crore in Q1 FY25, compared to Rs 264.60 crore posted in Q1 FY24. The company's EBITDA rose to Rs 885.3 crore in Q1 FY25, posting a jump of 37.3 per cent Y-o-Y compared to Rs 644.8 crore reported in the corresponding quarter of FY24. Total income grew by 12.0 per cent Y-o-Y to Rs 4,984.81 crore during the quarter.
Jindal Saw is a manufacturer of SAW pipes and spiral pipes for the energy transportation sector, carbon, alloy, and seamless pipes and tubes for industrial applications, and ductile iron (DI) pipes and fittings for water and wastewater transportation. The company commands a market capitalisation of Rs 20,304.39 crore on the BSE.
The iron and steel products manufacturing company is a constituent of the BSE 500 index. Jindal Saw shares are trading at a price-to-earnings multiple of 10.82 times, with an earnings per share of Rs 55.54.
Shares of Jindal Saw reached a 52-week high of Rs 663.45 on August 2, 2024, while they fell to a 52-week low of Rs 302.20 on August 23, 2023, on the BSE.
At around 02:40 PM, the company's shares were trading at Rs 636.65, up nearly 6 per cent from the previous close of Rs 601.05 on the BSE.
The BSE analysis reflects that the company's shares have offered a return of 12.01 per cent in the last three months, 23.90 per cent in the last six months, 97.78 per cent in the last year, and a whopping 634.93 per cent in the last two years to its investors.