India's Jindal SAW up 10% after Q2 profit climb

Jindal Saw

26/10/2023 10:45

** Shares of Jindal SAW  JIND.NS  up as much as 10.3% to
393.80 rupees, their biggest intra day pct gain since May 31
    ** Iron and steel pipes and pellets maker posted an over
six-fold rise in its Sept-qtr consol net profit to 3.76 bln
rupees ($45.2 mln) on strong demand
    ** Consol rev from ops up 35.2% YoY 54.66 bln rupees
    ** ~4.6 mln shares change hands as of 03:11 p.m. IST, 4.5x
the 30-day moving average
    ** Including day's gains, stock more than tripled so far
this year 
    


($1 = 83.1880 Indian rupees)

 (Reporting by Kashish Tandon in Bengaluru)
 ((kashish.tandon@thomsonreuters.com))