Iron and steel products maker, Jindal Saw is a hot pick of Prabhudas Lilladher as the brokerage recommended buying the stock on September 27, 2024. The recommendation comes after Jindal Saw fixed the record date for its upcoming stock split of 2:1 ratio. Currently, Jindal Saw's share price is near its 52-week high mark.
Jindal Saw Share Price Recommendation:
After market hours of September 26, Jindal Saw stock ended at Rs 735.60 apiece, up by 1.8% on BSE with a market cap of Rs 23,521.11 crore. The stock's 52-week high and low is at Rs 754.75 apiece and Rs 329.75 apiece respectively.
Data from BSE showed that Jindal Saw's price-to-equity ratio is at 13.25x, while the return on equity is around 17.42%.
YTD, Jindal Saw stock surged by over 74% on BSE.
Shiju Koothupalakkal - Technical Analyst at Prabhudas Lilladher recommended BUY on Jindal Saw for a target price of Rs 767 apiece with a stop loss of Rs 720.
Also, as per Trendlyne data, the consensus recommendation from 2 analysts for Jindal Saw Ltd. is STRONG BUY. EPS is expected to grow by 8.3% in FY25. The 1-year average target price is at Rs 870.50 apiece on Jindal Saw, hinting at a potential 18% upside ahead.
Jindal Saw Stock Split:
As per the regulatory filing, Jindal Saw fixed Wednesday, 9th October 2024 as the 'Record Date' to determine the eligibility of Shareholders for 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 paidup.
Hence, the stock split ratio is at 2:1.
This will be the second stock split carried by Jindal Saw in less than 2 decades. In December 2009, earlier, the company's face value split from Rs 10 each to Rs 2 each, a ratio of 1:5.
Jindal has not carried any bonus issue. Since December 2000, however, Jindal has distributed up to 24 dividends.
About Jindal Saw:
As a key member of the esteemed O.P. Jindal Group, India's premier indigenous steel producer and exporter, Jindal SAW Ltd. has earned global recognition as a 'Total Pipe Solutions' provider, driven by innovation and adaptability. Since its inception in 1984, Jindal SAW has transformed from a single-product venture into a multifaceted powerhouse over four decades.
Jindal SAW specializes in large-diameter SAW pipes, spiral pipes for energy transportation, ductile iron pipes for water and wastewater transportation, carbon, alloy, and stainless steel welded and non-welded pipes and tubes for industrial applications like Oil & Gas, Automobile, Bearing, Power and Petrochemical etc. Besides, the company also operates a pellet plant to extract and utilize low-grade iron ore post-beneficiation.
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