Jindal Saw Ltd, an iron and steel products manufacturer, will be in focus during the trading week from October 7 to October 11, 2024, due to its upcoming stock split in a 1:2 ratio. This means the face value of its shares will be split from ₹2 each fully paid-up to ₹1 each fully paid-up. The record date for this stock split has been set for October 9, 2024.
The company’s stock has seen a significant surge in 2024, rising by over 72% year-to-date and currently trading near its 52-week high of ₹760. On Friday, October 4, 2024, Jindal Saw’s shares closed at ₹726.05 apiece on the BSE, giving the company a market capitalization of ₹23,215.75 crore. This is a substantial increase from its 52-week low of ₹329.75 apiece.
The upcoming stock split is the second for Jindal Saw. The first occurred in December 2009, when the face value of shares was reduced from ₹10 to ₹2 each in a 1:5 ratio.
Market analysts recommend a “strong buy” for Jindal Saw, with earnings per share (EPS) expected to grow by 8.3% in FY25. Key technical indicators such as the Relative Strength Index (RSI) and Money Flow Index (MFI) are at 55.1 and 58.5, respectively, suggesting the stock is in a stable zone. Additionally, the stock is trading above 6 out of 8 simple moving averages and 4 out of 9 oscillators, indicating a bullish trend.
Jindal Saw manufactures SAW, spiral, seamless, and ductile iron pipes, primarily for the energy, industrial, and water transportation sectors. The company’s products are known for being energy-efficient and environmentally sustainable.
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