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Jindal Saw trades firmly despite Morgan Stanley offloading 5.4% stake in company

24 Dec 2013 Evaluate

Jindal Saw is currently trading at Rs. 51.70, up by 1.20 points or 2.38% from its previous closing of Rs 50.50 on the BSE.

The scrip opened at Rs. 50.75 and has touched a high and low of Rs. 52.45 and Rs. 50.30 respectively. So far 152012 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. 52.75 and Rs. 45.60 respectively. The current market cap of the company is Rs. 1425.31 crore.

The promoters holding in the company stood at 46.27 % while Institutions and Non-Institutions held 29.88 % and 23.85 % respectively.

Morgan Stanley Asia (Singapore) PTE has reportedly sold 1.45 crore shares or 5.40% stake of Jindal Saw through the open market route. The shares were sold on an average price of Rs 48, valuing the transaction to Rs 71.40 crore.

Meanwhile, Macquarie Bank has also sold 41.30 Lakh shares or 1.5% stake of Jindal Saw for about Rs 19.18 crore.

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.

Jindal Saw Share Price

236.85 15.55 (7.03%)
17-Apr-2026 16:59 View Price Chart
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