Jindal Saw is currently trading at Rs. 46.35, up by 0.55 points or 1.20 % from its previous closing of Rs. 45.80 on the BSE.
The scrip opened at Rs. 45.85 and has touched a high and low of Rs. 46.75 and Rs. 45.85 respectively. So far 24567 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 136.80 on 02-Jan-2013 and a 52 week low of Rs. 37.90 on 31-Jul-2013.
Last one week high and low of the scrip stood at Rs. 48.40 and Rs. 45.00 respectively. The current market cap of the company is Rs. 1284.44 crore.
The promoters holding in the company stood at 46.27% while Institutions and Non-Institutions held 29.88% and 23.85% respectively.
Credit rating agency, CARE has reaffirmed ‘AA-’ rating to Jindal Saw’s long term bank facilities worth Rs 2,134.62 crore which was enhanced from Rs 1,634.62 and ‘A1+’ rating to company’s Short term Bank Facilities worth Rs 3,650 crore. The rating agency has also reaffirmed ‘AA-’ rating to company’s Proposed Non-Convertible Debentures-IV worth Rs 500 crore which was enhanced from Rs 250.
The company has received the said rating on the back of its dominant position in the steel pipes industry in India, the company’s moderate order book position and its diversified product portfolio. The ratings also consider JSL’s moderate leverage profile as well as liquidity position and the benefits expected to be received from the captive iron ore mine at Bhilwara, Rajasthan.
Jindal Saw is in a commanding position in India's tubular market, being the undisputed leader with a turnover in excess of Rs 7,000 crore. The business operations are highly structured with three strategic business units: large diameter pipes, seamless tubes, and DI (ductile iron) pipes. Every SBU has its own dedicated sales and marketing targets and operations.
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