Jindal Saw hits over 5-year high; zooms 94% in 3 months on healthy outlook

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

Shares of Jindal Saw rallied 8.5 per cent to hit an over five-year high of Rs 177.15 on the BSE in Thursday’s intra-day trade on heavy volumes given the company's healthy outlook. The stock of the iron & steel products company was quoting at its highest level since January 2018. In comparison, the S&P BSE Sensex was down 60,103, at 10:22 am.

In the past three months, Jindal Saw has zoomed 94 per cent after the firm reported a multifold rise in its consolidated profit after tax at Rs 143.23 crore in the December 2022 quarter (Q3FY23) on strong