Jindal Saw Ltd, a prominent iron and steel pipe manufacturer, has experienced an impressive surge in its share prices over the past three years.
From June 29, 2020, when the share price stood at Rs.58.20, it has now soared to Rs.256.85 as of June 28, 2023.
Despite a slight dip of 0.23% on Friday, with the share price dropping to Rs.256.25, the company has proven to be a multibagger stock.
Positional investors who trusted in Jindal Saw Ltd have reaped significant rewards, with returns of up to 341% over the span of three years.
In comparison, the Sensex, a benchmark index for the Indian stock market, has gained 81.73% during the same period.
This means that Jindal Saw Ltd has outperformed the Sensex, offering more than four times the returns to its loyal investors.
Over the past year alone, the company has witnessed a substantial increase of 222% in its share prices.
Furthermore, in the year 2023, the stock has already climbed by 134%.
Industry experts and analysts monitoring this stock believe that the company’s share price has the potential to reach Rs.296 in the near future.
It is worth mentioning that Jindal Saw Ltd’s 52-week high on the Bombay Stock Exchange (BSE) stands at Rs.264.40 per share, while the 52-week low is Rs.76.90 per share.