Anil Singhvi, editor-in-chief of Zee Business, said in a report that for Jindal Saw and Maharashtra Seamless, the obvious good news is that the government has begun an investigation of stainless steel seamless pipes from China and has issued a notice about it.
Anil Singhvi, editor-in-chief of Zee Business, said in a report that for Jindal Saw and Maharashtra Seamless, the obvious good news is that the government has begun an investigation of stainless steel seamless pipes from China and has issued a notice about it.
The General Administration of Trade Remedies (DGTR) has imposed anti-dumping complaints on imported products from China such as natural gas, petrochemicals, refinery transportation, defense and power generation, and has ordered an investigation.
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The editor-in-chief stated that the survey period is from April 1, 2020 to March 31, 2021.
On Monday, Jindal's share price rose 3% in BSE intraday trading to 123 rupees per share. The stock eventually remained flat and closed on the BSE with a positive deviation of 119.9 rupees per share.
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Sumeet Bagadia, executive director of Choice Broking, said the stock is likely to rise because once it breaks the resistance of 124-125 rupees per share, it will see the stock's upward momentum. He predicts that the market will witness an increase of 130-135 rupees per share and recommends holding positions.
Bagadia believes that the support level of 115-117 rupees per share is also called a stop loss in the short term.
Similarly, the share price of Maharashtra Seamless Company surged more than 3.5% in BSE intraday trading today to 323.15 rupees per share, while the stock rose nearly 2.5% to 319.1 rupees per share at the close of BSE.
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