Morgan Stanley Asia (Singapore) PTE has reportedly sold 1.45 crore shares or 5.40% stake of Jindal Saw through the open market route. The shares were sold on an average price of Rs 48, valuing the transaction to Rs 71.40 crore.
Meanwhile, Macquarie Bank has also sold 41.30 Lakh shares or 1.5% stake of Jindal Saw for about Rs 19.18 crore.
Jindal Saw is in a commanding position in India's tubular market, being the undisputed leader with a turnover in excess of Rs 7,000 crore. The business operations are highly structured with three strategic business units: large diameter pipes, seamless tubes, and DI (ductile iron) pipes. Every SBU has its own dedicated sales and marketing targets and operations.
Meanwhile, Macquarie Bank has also sold 41.30 Lakh shares or 1.5% stake of Jindal Saw for about Rs 19.18 crore.
Jindal Saw is in a commanding position in India's tubular market, being the undisputed leader with a turnover in excess of Rs 7,000 crore. The business operations are highly structured with three strategic business units: large diameter pipes, seamless tubes, and DI (ductile iron) pipes. Every SBU has its own dedicated sales and marketing targets and operations.
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