Jindal Saw soars 3.4% on strong Q1 show

The stock is up around 1.5 percent after the company's Q1 net nearly doubled.

Jul 28, 2015 04:07 IST India Infoline News Service

Jindal SAW
Jindal Saw has soared nearly 5 percent to touch a high of Rs. 82.30 on the back of strong Q1 performance.

Jindal Saw reported nearly 90 percent surge in Q1FY16 net profit at Rs. 104.22 crore when compared with Rs. 54.90 crore in the corresponding quarter a year ago. Total income also increased by 66.4 percent to Rs. 1,912 crore from Rs. 1,149 crore.

The stock is has now pared some gains and is up 3.6 percent at Rs. 81.40. The counter has seen trades of around 102,400 shares as against the two-week daily average volume of around 704,000 shares on the BSE.

Meanwhile, the Sensex is now up 68 points at 27,630.

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