Jindal Saw shares rally 20% in two sessions on strong Q3FY26 results

Jindal SAW shares surged up to 5% on Tuesday to hit an intraday high of Rs 188.38 on the NSE, buoyed by positive investor sentiment after the company’s strong performance in the December quarter (Q3FY26). The stock extended its rally for a second straight session, climbing nearly 20% over the past two trading days.

The sharp rise comes following the company’s reporting a robust sequential improvement in earnings, highlighting a recovery in operational performance.

Jindal SAW posted a profit after tax (PAT) of Rs 248 crore in Q3FY26, up sharply from Rs 139 crore in the previous quarter, reflecting a robust 78% sequential (QoQ) growth. However, on a year-on-year basis, PAT fell 48.4% from Rs 479.4 crore in Q3FY25, largely due to a high base effect.


Revenue from operations mirrored this trend. It increased 17% sequentially to Rs 4,943 crore in Q3FY26 from Rs 4,234 crore in Q2FY26, but declined 6% year-on-year from Rs 5,271 crore in the same quarter last year.

Despite the YoY decline, the company noted that operational performance has steadily improved over the past two quarters, indicating a gradual recovery.

Jindal SAW also reported a robust order book of around US$ 1,481 million for its Iron & Steel Pipes and Pellets segment as of Q3FY26. Of the total, Iron & Steel Pipes account for approximately US$ 1,442 million, while the Pellets segment contributes about US$ 39 million. This strong order backlog provides healthy medium-term revenue visibility and is expected to support the company’s business momentum in the coming quarters.

The company also made progress on balance-sheet strengthening. Long-term debt declined on both the standalone and consolidated levels.

Consolidated long-term debt stood at Rs 6,890 million in December 2025, down from Rs 7,417 million in September 2025.

The strong sequential earnings growth, improving operations, robust order book, and debt reduction have boosted investor confidence, driving the recent surge in Jindal SAW’s share price. However, the YoY decline in profit and revenue suggests that sustained recovery will depend on continued execution and demand momentum in the coming quarters.

According to Trendlyne data, from a technical perspective shows that the stock’s 14-day RSI stands at 63.6. Typically, an RSI below 30 indicates an oversold condition, while a reading above 70 suggests the stock is overbought

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