Jindal Saw

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

Jindal Saw Ltd on Wednesday reported manifold rise in its consolidated profit after tax at Rs 143.23 crore in the December 2022 quarter. The company had posted a profit after tax of Rs 0.68 crore in the year-ago period, it said in a regulatory filing. The consolidated revenue from operations in the October-December period increased to Rs 5,157.94 crore, over Rs 3,471.04 crore in the corresponding period of previous fiscal, the filing said. During the quarter ended December 31, 2022, the company's profitability improved significantly as compared to the previous quarter ended September 2022 on account of positive demand off take and superior execution across key pipe categories. However, the extreme volatility in foreign exchange rates (Indian rupee to US dollar) continued to impact the net profit of the company during the third quarter of the current financial year. Stability in key raw material prices helped the company to maintain its order book position despite higher shipments

Jindal SAW would hold 51 per cent stake in the JV, while Hunting Energy will own the remaining 49 per cent

According to the technical analyst from Anand Rathi, JINDALSAW has seen a strong resurgence in the last two sessions backed by robust volumes indicating soaring demand at lower levels

National Green Tribunal has directed Jindal Saw Ltd to deposit Rs 4 crore as compensation as illegal blasting by it had caused damage to houses in Pur village in Rajasthan's Bhilwara district

Jindal Saw on Friday said it raised Rs 500 crore through allotment of non-convertible debentures on a private placement basis to LIC of India

The stock dipped 8% to Rs 154, extending its Wednesday's 4% decline on BSE