Jindal board will meet on 15 October 2009 to consider stock split
Jindal Saw rose after the company said its board will meet on 15 October 2009 to consider stock split
· The mid-cap stock outperformed the market over the past one month till 6 October 2009, rising 26.21% as compared to the Sensex’s 8.09% rise. It had also outperformed the market in the past one quarter, surging 85.41% as compared to the Sensex’s return of 20.76%.
· The company’s equity capital is Rs 54.72 crore. Face value per share is Rs 10.
· The current price of Rs 720.60 discounts the company’s Q2 June 2009 annualized EPS of Rs 104.37, by a PE multiple of 6.90.
· Jindal Saw’s net profit surged 93.7% to Rs 135.99 crore on 47.4% rise in net sales to Rs 1500.22 crore in Q2 June 2009 over Q2 June 2008.
· Jindal Saw manufactures and markets submerged arc welded (SAW) pipes. The company’s products include large diameter submerged arc welded pipes and spiral pipes and bends which are used in the energy sector for transportation of oil and gas, carbon, alloy. Its plants are located at Maharashtra, Uttar Pradesh and Gujarat. The group operates in India and United States.
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