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Jindal Saw gains 9% as board nods three investment proposals; Check details

Jindal Saw share price spiked 9.3 per cent in trade on Tuesday, June 10, 2025, logging a day's high at ₹253.65 per share on BSE. The buying on the counter came after the board of directors approved three investment proposals. At 10:02 AM, Jindal Saw shares were trading 9.21 per cent higher at ₹253.25 per share on the BSE. In comparison, the BSE Sensex was up 0.03 per cent at 82,460.42. The company's market capitalisation stood at ₹16,198.74 crore. Its 52-week high was at ₹383.85 per share and 52-week low was at ₹199.75 per share. In the past one year, Jindal Saw shares have lost 17 per cent as compared to Sensex's rise of around 8 per cent. Why are Jindal Saw shares buzzing in trade? On Monday, after market hours, Jindal Saw announced that its board has approved three investment proposals. One is to incorporate a step-down subsidiary in the United Arab Emirates (UAE). The company proposes to set up a 300,000 tons per annum (TPA) capacity seamless pipe manufacturing facility in UAE by way of incorporating a new step-down subsidiary to cater primarily to the oil & gas sector of the MENA region. Second, to enter into a joint venture (JV) agreement between Jindal Saw Holdings FZE (JSH), a subsidiary of the company, and BUHUR FOR INVESTMENT COMPANY LLC, KSA (Buhur) for incorporating a new company in the Kingdom of Saudi Arabia (KSA). The company proposes to set up a Helically Spiral welded pipe project in the Kingdom of Saudi Arabia. Lastly, to enter into a JV agreement between Jindal Saw Holdings FZE (JSH), a subsidiary of the company, and RAX United Industrial Company, KSA (RAX) for incorporating a new company in the Kingdom of Saudi Arabia (KSA). The company proposes to set up a ductile iron pipe project in KSA. About Jindal Saw Jindal Saw manufactures large-diameter submerged arc welded (SAW) Pipes using U-O-E, J-C-O, and Helical processes. The Saw pipes are mainly used in the transportation of Oil, Gas, Slurry, and Water.