Shares of Jindal Saw Ltd surged over 5% in intraday trading on Tuesday, outperforming the broader BSE Metal Index, which climbed 0.7% amid positive sentiment across the metal sector. The sharp uptick in Jindal Saw’s stock price signals investor confidence in the company’s prospects, supported by firm metal prices and healthy order flows.
Sector Momentum Boosts Metal Stocks
The BSE Metal Index, a benchmark tracking the performance of major metal and mining companies in India, recorded a 0.7% gain, reflecting growing optimism over demand recovery in global infrastructure and construction activity. Stronger commodity prices and favorable global cues helped lift the mood in metal counters.
Jindal Saw: Riding the Sectoral Rally
Jindal Saw shares touched an intraday high of ₹ on the BSE, marking a more than 5% rise. The company, known for manufacturing pipes and tubes used in infrastructure, energy, and water sectors, has been on investor radar due to strong financials and increasing export demand.
The company has also benefited from recent government initiatives focused on improving water infrastructure and boosting domestic steel consumption. Market participants anticipate sustained revenue momentum in the coming quarters driven by public capex and strong order inflows.
Recent Performance & Outlook
Over the past one month, Jindal Saw stock has gained over 15%, significantly outperforming the metal index. Analysts expect the stock to remain on an upward trajectory due to:
- A solid order book
- Capacity expansion plans
- Export growth opportunities
- Government-led infrastructure push
Technical Take
According to market experts, the stock has breached key resistance levels with strong volume support. The momentum indicators also point toward continued bullish sentiment in the near term.
Conclusion
As the broader metal sector gains traction, Jindal Saw stands out as a key beneficiary of the industrial and infrastructure revival both domestically and globally. With tailwinds from policy support, robust demand, and improving margins, the stock is well-positioned for further upside.
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