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Jindal Saw surges on entering into contract worth Rs 10,000 crore with JSW Steel

17 Apr 2015 Evaluate

Jindal Saw is currently trading at Rs. 67.45, up by 1.30 points or 1.97% from its previous closing of Rs. 66.15 on the BSE.

The scrip opened at Rs. 67.35 and has touched a high and low of Rs. 68.15 and Rs. 67.00 respectively. So far 54890 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 115.80 on 05-Dec-2014 and a 52 week low of Rs. 53.10 on 09-May-2014.

Last one week high and low of the scrip stood at Rs. 70.75 and Rs. 65.20 respectively. The current market cap of the company is Rs. 1918.56 crore.

The promoters holding in the company stood at 46.27% while Institutions and Non-Institutions held 24.59% and 29.13% respectively.

Jindal Saw, a part of the $18-billion OP Jindal Group, has approved a proposal for entering into a contract worth up to Rs 10,000 crore with group firm JSW Steel, from which it purchases raw material. The proposal for related party transaction was cleared by its shareholders through a special resolution last month.

The approval is for Jindal Saw to enter into a contract(s)/arrangement(s)/transaction(s) with JSW Steel, a related party up to a maximum amount of Rs 10,000 crore from financial year 2014-15 onwards.

Jindal Saw is in a commanding position in India's tubular market being the undisputed leader. The business operations are highly structured with three strategic business units: large diameter pipes, seamless tubes, and DI (ductile iron) pipes.

 

Jindal Saw Share Price

236.85 15.55 (7.03%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Tata Steel 212.05
JSW Steel 1239.90
SAIL 173.50
Jindal Stainless 787.90
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