Jindal Saw projects better outlook for next financial year

Jindal Saw Ltd has announced the following Outlook:

SAW pipe, Seamless pipe and Ductile Pipe industry caters to the infrastructure requirements of an economy. In India high targets of growth in terms of gross domestic product have been set in the range of 8-9% per annum. Industry experts have already expressed the need for greater infrastructure development in the country to meet such ambitious targets. Energy is one of the key infrastructure areas, which need to be developed. The transportation of oil and gas is key factor as power and downstream units assume significance. Major investment in the exploration of oil and gas reserves in the country has resulted in the identification of reserves by private sector as well. All these developments are expected to culminate in a major demand for line pipes, the most secure and cheap mode of transportation of oil and gas. In addition, the goal of supplying water to the most remote of villages and the development of water supply and sewerage systems should continue to generate demand for pipes in the water sector.

The Company is geared up to take the benefit of the bullish trend in these sectors. The Company expects to demonstrate a better show in the next financial year.

Source : Equity Bulls

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