Jindal Saw Share Price Surges Amid Market Volatility: What’s Behind the Bounce?

June 10, 2025: Jindal Saw, a prominent player in the Steel – Tubes/Pipes sector, witnessed a notable spike in its share price recently, closing at ₹248.9 after touching a high of ₹257.2 during intraday trading. This 7.2% gain in a single day comes amid mixed performance over the last few months, where the stock has struggled to maintain upward momentum, recording a decline of 7% over the last three months.

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Despite this short-term volatility, the stock has shown strong resilience on the weekly scale, with a 17.53% gain over the past week, suggesting renewed investor confidence. Technical indicators reveal that the stock is hovering near critical pivot levels, with resistance around ₹250-259 and support holding firm near ₹232-241, indicating a potential trading range for investors to watch closely.

Long-term moving averages paint a mixed picture, with short-term averages rising but longer-term trends still reflecting past weakness. Over the last year, the stock has faced challenges, falling nearly 10%, yet the 3-year and 5-year returns remain impressive at over 470% and 760%, respectively, hinting at the company’s underlying strength and sectoral growth potential.

Comparing Jindal Saw to peers like APL Apollo Tubes, which has shown steadier gains in the medium term, investors are weighing the risk-reward balance carefully. For those bullish on steel infrastructure growth, Jindal Saw’s current valuation may present an attractive entry point amid a sector that continues to show signs of revival.

As market dynamics evolve, traders and investors will be closely monitoring the stock’s technical levels and broader sector trends to gauge whether this upward move signals a sustained recovery or a short-lived rally in an otherwise choppy market.