1:2 Stock Split Soon By Jindal Group's Metal Stock; Record Date - October 9; Time To Buy?

Jindal Saw Ltd, an iron and steel products maker, will be in focus during the trading week from October 7 to October 11th, as the stock will split in the ratio of 1:2. The Jindal Group-backed metal company is currently near its 52-week high, and has surged by more than 72%.

Jindal Saw Ltd Share Price:

Last week, on Friday, Jindal Saw's share price surged by 2.61% to end at Rs 726.05 apiece on BSE, with a market cap of Rs 23,215.75 crore.

The stock is closing the gap toward its 52-week high of Rs 760.00 apiece, while the stock has more than doubled from its 52-week low of Rs 329.75 apiece.

Jindal Saw stock surged by 72% YTD.

Jindal Saw Ltd Stock Split:

The metal company has fixed Wednesday, 9th October 2024 as the 'Record Date' for the purpose of determining the eligibility of Shareholders for the purpose of sub-division /split of the face value of equity shares of the Company from Rs. 2/- each fully paid-up to Re. 1/- each fully paid up.

The stock split ratio is 1:2.

This will be the second stock split by Jindal Saw. The first was of 1:5 ratio, where a face value of Rs 10 each was split into Rs 2 each in December 2009.

Jindal Saw BUY?

The consensus recommendation from 2 analysts for Jindal Saw Ltd. is STRONG BUY, as per Trendlyne data. EPS is expected to grow by 8.3% in FY25. The moving averages such as RSI and MFI at 55.1 and 58.5, which is stable. Because RSI below 30 is considered that the stock is oversold, while above 70 indicator would mean overbought.

Also, as per data, Jindal Saw is trading above 6 out of 8 SMAs. Additionally, the stock is trading above 4 out of 9 Oscillators in a bullish zone.

About Jindal Saw Ltd:

Jindal SAW manufactures SAW Pipes (Submerged Arc Welded Pipes) and spiral pipes for the energy transportation sector; carbon, alloy and seamless pipes and tubes for industrial applications; and Ductile Iron (DI) pipes & Fittings for water and wastewater transportation.

Jindal SAW pipes are energy-efficient, reduce dependence on fossil fuels, and help conserve natural resources.