Jindal Saw Limited shares rose 6 percent to Rs 260 a share in the first half session on Tuesday, a day after promoter Shradha Jatia purchased a stake in the business.
According to the NSE filing, Company promoter Shradha Jatia purchased 8,350 shares for Rs 19,96,047 in the previous week. On June 26, the promoter purchased an additional 12,700 shares for Rs 29,96,535 each, increasing the total number of shares held by the promoter to 21,050.
As of March FY23, Shradha held a 0.25 percent stake in the company. With a market capitalization of Rs 8,203 crore, At 12:45 pm, the stock quoted Rs 257.35 up 4.96 percent on NSE.
The company’s share has delivered multibagger returns of 223 percent in a year and 158 percent in six months. If a shareholder had invested Rs 1 lakh in the company that would be worth Rs 3.23 lakhs in a year and Rs 2.58 lakhs in six months.
Jindal saw limited is a leading global manufacturer and supplier of Iron & Steel pipes and pellets duct lines.
As per the company’s financials, operational revenue climbed by 32 percent from Rs 3,969 crore in Q4FY22 to Rs 5,188 crore in Q4FY23. Net profit increased by 143 percent within the same time period, from Rs 121 crore to Rs 294 crore.
Furthermore, revenue climbed 34 percent year on year, rising from Rs13,298 crore in FY 21-22 to Rs 17,867 crore in FY 22-23. During the same period, net profit climbed by 18 percent, from Rs 375 crore to Rs 443 crore and the firm recorded a debt-to-equity ratio of 0.59.
As of FY23, the promoter owned 63.25 percent of the firm, Foreign institutional investors held 14.94 percent, and retail investors owned 19.97 percent.
Written by Omkar C
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