Jindal Saw Shares Primed To Grow On Increasing Infrastructure Demand, Says SEBI RA Finance With Palak

On the technical charts, Palak sees support levels between ₹238.50 and ₹231.88 and resistance levels between ₹257 and ₹383.85

Rising demand for infrastructure projects, coupled with Jindal Saw’s (JINDALSAW.NSE) strategic expansion plans, positions the company strongly for growth, according to SEBI-registered analyst Finance with Palak.

The stock surged in Tuesday’s trade after the company announced three new investments totaling up to $118 million in Saudi Arabia and the United Arab Emirates.

At the time of writing, Jindal Saw was up 7.8% at ₹249.95.

The analyst believes that Jindal Saw’s strong brand presence, diversified product portfolio, and operating efficiency will increase its market share.

On the technical charts, Palak sees support levels between ₹238.50 and ₹231.88 and resistance levels between ₹257 and ₹383.85. She also set a target price of ₹280.

However, Palak noted that increasing competition from other players in the pipes and infrastructure sector, volatility in raw material prices, and potential project execution delays could impact the company’s revenue and profitability.

Retail sentiment on Stocktwits turned 'bullish' from 'neutral', amid 'high' message volumes.

Year-to-date, the stock  has shed 14.55%

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