India's Jindal SAW falls on weak quarterly results

Jindal Saw

05/05/2025 08:55

** Shares of Jindal SAW JIND.NS drop 5.3% to 232.48 rupees; on track to log worst day in nearly a month

** Steel pipes maker reported 42% drop in Q4 consol net profit after tax to 2.91 billion rupees

** Rev down 7%, while sales of iron steel and pipes dropped 9.2% as demand dipped in the quarter

** Stock eyes busiest trading session since mid-March, with volumes at 2.1x the 30-day avg

** Year-to-date, JIND down ~16% while peers Welspun Corp WGSR.NS lost ~6% and APL Apollo Tubes APLA.NS up ~2%

 (Reporting by Manvi Pant in Bengaluru)

 ((Manvi.Pant@thomsonreuters.com; +918447554364;))