1:2 Stock Split: Metals Stock Hits 52-Week High As Board Approves Split, Shares Gain 128% In 1-Yr

Board of Directors of Jindal Saw Ltd today gave approval to stock split in the ratio of 1:2. Jindal Saw Ltd shares today hit 52-week high with gain of over 2% on BSE. Current market price of Jindal Saw shares on BSE is Rs 700.20 per share. Jindal Saw shares offered eye-catching returns of 128% in last 1-year and 66% return year-to-date. The company's market capitalisation stood at Rs 22,389.02 crore. Check details below:

Jindal Saw Approves Stock Split: As per the regulatory filing of Jindal Saw dated August 23, 2024, "we hereby inform you that the Board of Directors in their meeting held today, i.e., 23rd August, 2024 subject to the approval of shareholders, approved:-

1. The proposal for alteration in the equity share capital of the Company by sub-division/split of existing equity shares having face value of Rs. 2/- each, fully paid up into face value of Re. 1/- each, fully paid up.

2. The alteration in the Capital Clause (i.e. Clause V) of the Memorandum of Association of the Company consequent to the sub-division/split of existing equity shares."

Jindal Saw Dividend History: Jindal Saw declared 24 dividends since Dec. 8, 2000. In the last 1 year, Jindal Saw announced an equity dividend amounting to Rs 4.00 per share. At the current share price of Rs 700.20, Jindal Saw offers a dividend yield of 0.57%, according to Trendlyne.

Jindal Saw Stock Split History: Jindal Saw last split the face value in December 10, 2009. Jindal Saw split the face value of its shares from Rs 10 to Rs 2 in 2009. The share traded ex-split as on December 10, 2009. After 2010, the company approved stock split today i.e August 23, 2024.

Jindal Saw Shares Performance: The 52-week high price of Jindal Saw Ltd share on BSE is Rs 710.65 per share (as on 23/08/2024) and 52-week low price is Rs 305.25 per share (as on 28/08/2023), respectively. Jindal Saw shares offered return of over 11% in last 1-week, gained 28% in last 1-month, offered return of 740% in last 2-years, and gained 474% in last 3-years. In last 5-years, Jindal Saw Ltd stock surged 945%.

About: Jindal SAW manufactures SAW Pipes (Submerged Arc Welded Pipes) and spiral pipes for the energy transportation sector; carbon, alloy and seamless pipes and tubes for industrial applications; and Ductile Iron (DI) pipes & Fittings for water and wastewater transportation, according to its official website.

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