Jindal Saw

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The case was triggered by a complaint from state-run Oil and Natural Gas Corporation in 2023, related to bidding of certain tenders by the steel pipe companies

Jindal Saw shares jumped 9 per cent after the company's board approved three acquisition proposals; here are more details

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Jindal Saw on Friday reported an 81.9 per cent decline in consolidated profit after tax (PAT) at Rs 86.9 crore for the March quarter. The company had posted consolidated PAT of Rs 480.4 crore in the year-ago period. The consolidated total income of the company during January-March period dropped 8 per cent to Rs 5,067.5 crore over Rs 5,493.7 crore in the year-ago period, according to a filing to the BSE. The board has approved the re-appointment of Sminu Jindal as Managing Director of the company from February 1, 2026, it said. The company is a manufacturer and supplier of steel pipe products, fittings and accessories with manufacturing facilities in India, the US, Europe, and the UAE.

Shares of Jindal Saw rallied up to 7.73 per cent at 333.05 per share on the BSE in Wednesday's intraday deals

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Jindal Saw on Tuesday said it has inked a pact to acquire 31.20 per cent equity in ReNew Green Energy. However, the company did not divulge the financial details of this equity acquisition. In a filing, Jindal Saw said, "It has entered into a share purchase agreement with ReNew Green Energy Solutions Private Limited (RGES) to acquire shareholding up to 31.20 per cent equity share capital in ReNew Green MHH One Private Limited (RGMHH), which resulted RGMHH as an associate of the company". The acquisition is with an objective to procure electricity at a concessional rate, the company said. Jindal Saw further said it aims to complete the acquisition by May 31, 2025, or any other date as may be mutually decided between the parties. It is a manufacturer and supplier of steel pipe products, fittings and accessories with manufacturing facilities in India, the US, Europe and the UAE.

The company's quarterly raw materials expenses dropped 14.4% from a year ago

Jindal SAW shares have doubled investors' money in the last year, with a gain of 115.25 per cent during the said period

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 stock strategy: On a consolidated basis, Jindal Saw reported a jump of 61.5 per cent Y-o-Y in net profit at Rs 480.4 crore in Q4FY24

Around 2.35 million equity shares, representing 0.74 per cent of total equity of Jindal Saw, changed hands on the NSE, exchange data shows

The company posted a consolidated profit after tax of 5.32 billion rupees ($64.1 million) for the quarter ended Dec. 31, 2023 from 2.14 billion rupees a year ago

Total 22 stocks from the Smallcap index including Suzlon Energy, GMR Power, Reliance Infra, PTC Ind, Genus Power, Patel Engg and HPL Electric were locked at their respective lower circuits on the BSE.

In the past two weeks, the stock has surged 31% after the company reported strong Q4 earnings with consolidated net profit more-than-doubling to Rs 294 crore

Jindal Saw's board has also approved, in-principle, to dispose-off its subsidiary Green Ray Holdings Limited, UK along with its step down subsidiary, Derwent Sand SARL, Algeri

The company said that the future of the global steel pipe market looks promising with opportunities in oil and gas, water and wastewater, power generation, automotive, and other industrial sectors

Jindal Saw Ltd on Wednesday reported manifold rise in its consolidated profit after tax at Rs 143.23 crore in the December 2022 quarter. The company had posted a profit after tax of Rs 0.68 crore in the year-ago period, it said in a regulatory filing. The consolidated revenue from operations in the October-December period increased to Rs 5,157.94 crore, over Rs 3,471.04 crore in the corresponding period of previous fiscal, the filing said. During the quarter ended December 31, 2022, the company's profitability improved significantly as compared to the previous quarter ended September 2022 on account of positive demand off take and superior execution across key pipe categories. However, the extreme volatility in foreign exchange rates (Indian rupee to US dollar) continued to impact the net profit of the company during the third quarter of the current financial year. Stability in key raw material prices helped the company to maintain its order book position despite higher shipments