Jindal Saw rose 2.57% at Rs 83.80 at 14:46 IST on BSE ahead of the board meeting tomorrow, 10 October 2014, to consider the issuance of securities convertible into equity shares of the company on preferential basis to the promoter group entities.
Meanwhile, the S&P BSE Sensex was up 423.67 points or 1.61% at 26,670.46.
On BSE, so far 4.10 lakh shares were traded in the counter as against average daily volume of 3.29 lakh shares in the past one quarter.
The stock hit a high of Rs 84.90 and a low of Rs 82.90 so far during the day. The stock had hit a 52-week high of Rs 98.35 on 23 September 2014. The stock had hit a 52-week low of Rs 42.70 on 17 October 2013.
The stock had outperformed the market over the past one month till 8 October 2014, surging 6.94% as compared to the Sensex's 3.93% fall. The scrip had also outperformed the market in the past one quarter, jumping 6.45% as compared to the Sensex's 2.6% rise.
The small-cap company has equity capital of Rs 55.24 crore. Face value per share is Rs 2.
Jindal Saw's net profit jumped 260.9% to Rs 54.90 crore on 5.1% decline in net sales to Rs 1145.11 crore in Q1 June 2014 over Q1 June 2013.
Jindal Saw is the leading production hub of saw pipes primarily used for transportation of oil and gas.
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