Jindal Saw Hits New 52-Week Low as Stock Plummets to Rs. 183.9

Jindal Saw, a small-cap player in the Iron & Steel Products industry, has reached a new 52-week low of Rs. 183.9 today, marking a significant downturn for the stock. This decline comes as the company has faced a challenging financial landscape, with net sales dropping by 15.22% and negative results reported for the last three consecutive quarters. The stock has underperformed the sector, falling 3.54% over the past two days and lagging behind the broader market, which has seen a 5.34% gain over the same period.
Currently, Jindal Saw is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a persistent downward trend. The company's performance over the past year has been particularly stark, with a decline of 42.20%, contrasting sharply with the BSE500's positive return of 3.63%. Additionally, institutional investors have reduced their stake in the company by 1.5%, now holding 19.89%. This shift reflects a broader concern regarding the company's financial health, as evidenced by a significant drop in profit after tax and a low operating profit to interest ratio.