Latest news with #JindalSAW
Zawya
4 days ago
- Business
- Zawya
Oman's OQGN awards EPC contract for $273mln Fahud - Suhar Loop Line project
OQ Gas Networks (OQGN), Oman's sole gas transmission operator and owner, announced on Wednesday that it has awarded Engineering, Procurement, and Construction (EPC) contract for the new 42 inch, 193-kilometre (km) loop line from Fahud to Suhar to Egypt-headquartered Petrojet. The agreement for the Fahud - Suhar Loop Line project was signed on 17 June 2025, the MSX-listed company said in a stock exchange statement. The statement said OQGN also awarded the supply of 193-km of line pipes to Jindal SAW. The project, which is estimated to cost 105 million Omani riyals ($273 million), is scheduled to be completed in 24 months, the statement noted. According to the statement, the project cost will be included in the Company's Regulated Asset Base (RAB), and, like the rest of the RAB, the return on this investment will be determined based on the Weighted Average Cost of Capital (WACC). The currently approved WACC in Price Control 3 is 7.79 percent and will remain in effect until 2027. In November 2024, Zawya Projects had reported that OQGN secured approval from relevant authorities for the execution of a second loop line from Fahud to Sohar. (Reporting by Deva Palanisamy; Editing by Anoop Menon) (
Business Upturn
09-05-2025
- Business
- Business Upturn
Stocks hitting 52-week lows today, May 9: Central Bank of India, Vodafone Idea, Praj Industrie, PNC Infratech and more
By Aman Shukla Published on May 9, 2025, 15:59 IST Indian share markets ended on a poor note with both the BSE Sensex and Nifty 50 indices recording substantial declines. The Sensex closed at 79,454.47, down by 880.34 points, or 1.10%, while the Nifty 50 dropped 265.80 points, or 1.10%, to settle at 24,008.00. Several stocks hit their 52-week lows during today's trading session: Jindal SAW closed at ₹201.68, dropping 8.06 points or 3.84%. Its 52-week low was ₹199.62. Praj Industries ended the day at ₹451.50, down by 4.75 points or 1.04%, with a 52-week low of ₹443.90. Schneider Electric Infrastructure closed at ₹550.95, falling by 5.75 points or 1.03%, reaching a 52-week low of ₹540.00. Manyavar – Vedant Fashions Ltd. remained unchanged at ₹723.05, with a 52-week low of ₹706.30. Ramkrishna Forgings closed at ₹566.25, down 12.45 points or 2.15%, hitting a 52-week low of ₹553.00. Syngene International closed at ₹614.10, up 3.40 points or 0.56%, with a 52-week low of ₹599.55. PNC Infratech ended at ₹246.05, falling by 1.75 points or 0.71%, with a 52-week low of ₹240.00. Vodafone Idea closed at ₹6.70, gaining 0.01 points or 0.15%, with a 52-week low of ₹6.47. Central Bank of India closed at ₹34.15, down by 0.21 points or 0.61%, with a 52-week low of ₹32.75. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Central Bank of IndiaPNC InfratechPraj IndustrieStock MarketVodafone Idea Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
Reuters
02-05-2025
- Business
- Reuters
India's Jindal SAW posts quarterly profit drop on lower demand
May 2 (Reuters) - India's Jindal SAW ( opens new tab, which makes steel pipes for the energy, transportation and water sectors, reported a smaller fourth-quarter profit on Friday as demand dropped due to a slowdown in construction activity. The company's consolidated net profit after tax decreased 42% to 2.91 billion rupees ($34.5 million) in the three months ended March 31. The Reuters Tariff Watch newsletter is your daily guide to the latest global trade and tariff news. Sign up here. Revenue from operations fell about 7% to 50.47 billion rupees. Sales of iron and steel pipes dropped 9.2% to 434,000 million tonnes. For further earnings highlights, click. KEY CONTEXT Domestic steel demand in the January-March quarter was lower than a year earlier as government spending, which had ramped up ahead of the 2024 national general elections, tapered off. However, falling prices of iron ore and coking coal, key raw materials, lowered Jindal SAW's expenses, which dropped 4.7% to 46.02 billion rupees. PEER COMPARISON * The mean of analyst ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell ** The ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above the PT JANUARY-MARCH STOCK PERFORMANCE -- All data from LSEG IBES -- $1 = 84.3940 Indian rupees
