India's Jindal SAW rises on JV with Hunting Energy Services

Jindal Saw

23/12/2021 06:39

** Shares of the iron and steel pipe products maker
 JIND.NS  rise as much as 4.3% to 104.30 rupees, their highest
since Dec. 14    
    ** JIND stock up for a third straight session
    ** Co says https://bit.ly/3qeBJbE signed a joint venture
agreement with Singapore-based Hunting Energy Services Pte Ltd 
    ** Co says with this JV, Hunting will provide technology to
thread premium connection on seamless casing and tubing, used
mainly in deep drilling activities in the oil and gas sector
    ** Co would hold 51% stake in the JV and the rest by Hunting
    ** More than 2 mln shares trade by 0550 GMT, 2 times the
30-day avg of over 1 mln shares 
    ** As of last close, JIND had risen 31.8% this year vs a
69.6% gain in the Nifty Metals index  .NIFTYMET  

 (Reporting by Rama Venkat in Bengaluru)
 ((ramavenkat.raman@thomsonreuters.com; https://twitter.com/ramavenkat0607;))