Two companies whose third quarter results I intend to track closely are Jindal Saw and Aksh Optifibre.
Jindal Saw is engaged in the manufacture of ductile, seamless and helical pipes and pellets. The company principally addresses the water and oil sectors, marked by fresh capital expenditure. The foreseeable quarters are possibly the first time in years that all the company’s businesses are expected to fire concurrently. The government’s guidelines favour Indian manufacturers over imports. The increase in steel price could strengthen pipe realisations. There is now an expectation that the UAE based subsidiary could enhance capacity utilisation and margins that
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