India's Jindal Saw, Maharashtra Seamless fall on report of raids in antitrust case

Jindal Saw

16/09/2025 07:59

** Steelmakers Jindal Saw JIND.NS falls 1.3% to 208.69 rupees; Maharashtra Seamless MHSM.NS down as much as 1.58% to 630 rupees

** India's antitrust inspectors conducted surprise raids in and around New Delhi on Monday in alleged case of bid rigging, Reuters reports; search ops now over

** Case triggered by complaint from Oil and Natural Gas Corporation ONGC.NS in 2023, related to bidding of certain tenders by steel pipe companies, report adds

** Competition Commission of India, companies did not respond immediately to Reuters' requests for comment

** YTD, JIND falls ~27%, MHSM down ~10%

 (Reporting by Urvi Dugar)

 ((UrviManoj.Dugar@thomsonreuters.com;))