Latest news with #JindalSawHoldingsFZE
Economic Times
10-06-2025
- Business
- Economic Times
Jindal Saw shares soar 11% after unveiling $118 million capex plans in middle-east
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Shares of pipe manufacturer Jindal Saw surged nearly 11% to Rs 257.2 in Tuesday's intraday trade after the company announced major expansion plans in the Middle Monday, June 9, Jindal Saw said its board had approved three international investments totalling up to $118 million, aimed at expanding its footprint in the iron and steel sector across the largest of the three projects involves setting up a 100% owned step-down subsidiary in Abu Dhabi, UAE, to establish a seamless pipe manufacturing facility with a capacity of 300,000 tonnes per annum. This unit will cater primarily to the oil and gas sector in the MENA region, with an investment of up to $105 million and a completion timeline of approximately three Saudi Arabia, the company plans two joint ventures via its subsidiary Jindal Saw Holdings FZE. The first is with Buhur for Investment Company LLC to set up a helically spiral welded (HSAW) pipe plant, with Jindal holding a 51% stake and investing up to $10 million. The project is expected to be completed in two second JV is with RAX United Industrial Company to build a ductile iron pipe manufacturing facility, also with a 51% stake and an investment of up to $3 million. This project is scheduled to be completed within 12 to 18 three entities are yet to be incorporated, and the company said it will obtain the necessary regulatory and government approvals. The investments will be made entirely in 10:56 am, the stock was trading 10.4% higher at Rs 256.1. Jindal Saw has gained 27% in the past one month, although it remains down 23.5% over the last six months.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Time of India
10-06-2025
- Business
- Time of India
jindal saw: Jindal Saw shares soar 11% after unveiling $118 million capex plans in middle-east
ADVERTISEMENT Shares of pipe manufacturer Jindal Saw surged nearly 11% to Rs 257.2 in Tuesday's intraday trade after the company announced major expansion plans in the Middle Monday, June 9, Jindal Saw said its board had approved three international investments totalling up to $118 million, aimed at expanding its footprint in the iron and steel sector across the largest of the three projects involves setting up a 100% owned step-down subsidiary in Abu Dhabi, UAE, to establish a seamless pipe manufacturing facility with a capacity of 300,000 tonnes per annum. This unit will cater primarily to the oil and gas sector in the MENA region, with an investment of up to $105 million and a completion timeline of approximately three Saudi Arabia, the company plans two joint ventures via its subsidiary Jindal Saw Holdings FZE. The first is with Buhur for Investment Company LLC to set up a helically spiral welded (HSAW) pipe plant, with Jindal holding a 51% stake and investing up to $10 million. The project is expected to be completed in two second JV is with RAX United Industrial Company to build a ductile iron pipe manufacturing facility, also with a 51% stake and an investment of up to $3 million. This project is scheduled to be completed within 12 to 18 three entities are yet to be incorporated, and the company said it will obtain the necessary regulatory and government approvals. The investments will be made entirely in 10:56 am, the stock was trading 10.4% higher at Rs 256.1. Jindal Saw has gained 27% in the past one month, although it remains down 23.5% over the last six months.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Time of India
10-06-2025
- Business
- Time of India
Jindal Saw shares soar 11% after unveiling $118 million capex plans in middle-east
Shares of pipe manufacturer Jindal Saw surged nearly 11% to Rs 257.2 in Tuesday's intraday trade after the company announced major expansion plans in the Middle East. On Monday, June 9, Jindal Saw said its board had approved three international investments totalling up to $118 million, aimed at expanding its footprint in the iron and steel sector across the region. The largest of the three projects involves setting up a 100% owned step-down subsidiary in Abu Dhabi, UAE, to establish a seamless pipe manufacturing facility with a capacity of 300,000 tonnes per annum. This unit will cater primarily to the oil and gas sector in the MENA region, with an investment of up to $105 million and a completion timeline of approximately three years. In Saudi Arabia, the company plans two joint ventures via its subsidiary Jindal Saw Holdings FZE. The first is with Buhur for Investment Company LLC to set up a helically spiral welded (HSAW) pipe plant, with Jindal holding a 51% stake and investing up to $10 million. The project is expected to be completed in two years. Also Read: JSW Steel, Aurobindo Pharma among 6 large & midcap firms with promoter pledge decline in Q4 The second JV is with RAX United Industrial Company to build a ductile iron pipe manufacturing facility, also with a 51% stake and an investment of up to $3 million. This project is scheduled to be completed within 12 to 18 months. All three entities are yet to be incorporated, and the company said it will obtain the necessary regulatory and government approvals. The investments will be made entirely in cash. At 10:56 am, the stock was trading 10.4% higher at Rs 256.1. Jindal Saw has gained 27% in the past one month, although it remains down 23.5% over the last six months. Also Read: Dixon Technologies, LIC Housing Finance among 10 mid-cap stocks analysts expect to gain up to 40% ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
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Business Standard
10-06-2025
- Business
- Business Standard
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.
Business Standard
10-06-2025
- Business
- Business Standard
Jindal Saw soars on Middle East push
Jindal Saw surged 9.83% to Rs 254.70 after announcing board approval for three overseas investments worth up to $118 million, aimed at expanding its footprint in the Middle East's iron and steel industry. As part of this plan, the board has approved the incorporation of a step-down subsidiary in the United Arab Emirates. The new entity will establish a seamless pipe manufacturing facility in Abu Dhabi with an annual capacity of 300,000 tonnes. Designed to serve the oil and gas sector across the MENA region, this project involves an estimated investment of up to $105 million and is expected to be completed over the next three years. The new facility will be wholly owned by Jindal Saw through its subsidiary. Additionally, the board approved two joint ventures in the Kingdom of Saudi Arabia. The first JV will be formed between Jindal Saw Holdings FZE, a subsidiary of the company, and Buhur for Investment Company LLC. This venture will focus on setting up a helically spiral welded (HSAW) pipe manufacturing unit. Jindal Saw will hold a 51% stake in the new entity, with an investment commitment of up to $10 million. The expected project timeline is approximately two years. The second JV in Saudi Arabia will be established with RAX United Industrial Company. This partnership will focus on a ductile iron pipe manufacturing facility, with Jindal Saw again holding a 51% stake. The investment in this project is estimated at up to $3 million, and the facility is projected to be operational within 12 to 18 months. All the proposed entities will be incorporated in their respective jurisdictions and will operate in the iron and steel segment, consistent with Jindal Saws primary business. The company clarified that all transactions involve cash consideration and do not constitute related party transactions. Necessary regulatory and governmental approvals will be obtained where applicable. Jindal Saw is engaged into manufacturing of iron and steel pipes and pellets. On a consolidated basis, net profit of Jindal Saw declined 42% to Rs 291.28 crore, while net sales declined 6.98% to Rs 5046.59 crore in Q4 March 2025 over Q4 March 2024.
