Why Jindal Saw Share Price is Rising

India is the world's second-largest producer of crude steel, and the sector plays a crucial role in driving the country's economy.

Steel is a cyclical industry, influenced by global demand, raw material prices, economic growth, government policies, and infrastructure development.

Among all stocks in the sector, Jindal Saw is currently in the spotlight, surging 4% today.

Jindal SAW Limited (JSAW) is one of India's most established manufacturers in the iron & steel pipe industry, positioned as a global "Total Pipe Solutions" provider.

Here's what's driving the sharp move.

# Q3 FY26 Results

Shares of Jindal Saw surged 4% today, and Q3 FY26 results explain why.

The stock has now risen for the second consecutive day, gaining nearly 20% over the last two trading sessions.

Revenue from the operations increased 17% sequentially to Rs 49.43 billion (bn) from Rs 42.34 bn in Q2 FY26 but declined 6% year-over-year (YoY) from Rs 52.71 bn in the same quarter last year.

Despite the YoY decline, the company noted that operational performance has steadily improved over the past two quarters, indicating a gradual recovery.

Consolidated long-term debt stood at Rs 6.89 bn in December 2025, down from Rs 7.4 bn in September 2025.

Jindal SAW reported a profit after tax (PAT) of Rs 2.48 bn in Q3 FY26, up 78% from Rs 1.39 bn in the previous quarter. However, compared to Q3 FY25, PAT was down 48.4% from Rs 4.79 bn, mainly due to a high base from last year.

This can be the main reason for the share price to jump.

What Next?

Moving forward, the company reported a robust order book of around US$ 1,481 million (approximately Rs 122.9 bn) for its Iron & Steel Pipes and Pellets segment as of Q3FY26.

This strong order backlog provides healthy medium-term revenue visibility and is expected to support the company's business momentum in the coming quarters.

The company seeks to profit from rising government spending on new and updated infrastructure projects.

It wants to keep a steady flow of orders by increasing executable orders and exploring new chances in value-added products.

The company plans to deliver steady financial performance with healthy margins and strong cash flows.

The company will use strong relationships to maintain a solid order book and boost its market leadership by taking advantage of additional growth opportunities.

How Jindal Saw Shares Have Performed Recently

In the past five trading sessions, Jindal Saw's shares jumped by 16%.

Over the past year, the share price has been down 29%.

The stock touched its 52-week high of Rs 286.50 on 20 March 2025 and its 52-week low of Rs 153.20 on 9 December 2025.

About Jindal Saw

Jindal SAW Limited (JSAW) is one of India's most established manufacturers in the iron & steel pipe industry, positioned as a global "Total Pipe Solutions" provider.

The company manufactures a diversified portfolio of pipes, including LSAW and HSAW pipes, Ductile Iron (DI) pipes, seamless pipes, stainless steel pipes, and precision tubes.

Alongside its pipe business, JSAW also operates a Mining & Pellet division in Rajasthan, producing high-grade iron ore pellets through beneficiation and pelletisation. This vertical integration helps the company manage input cost volatility, a critical advantage in steel-linked businesses.

For more details, see the JINDAL SAW company fact sheet and quarterly results.

For a sector overview, read our steel sector report.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

Investors should evaluate the company's fundamentals, corporate governance, and valuations of the stock as key factors when conducting due diligence before making investment decisions.

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