Jindal Saw zooms up over 3.5%

Jindal Saw is doing pretty well today, opening higher at Rs.75.50 and going on hit an intra day high at Rs.77.80, up over 3.5%, the current levels at which it remains.

The stock zoomed up, reacting to the news it announced yesterday after market closure that it has signed a MoU with SULA Shipping and Logistics Private Limited in relation to restructuring of transhipment business of Jindal ITF Limited, a wholly owned subsidiary. The definitive agreement(s) will be entered between the parties in due course.