Jindal Drilling moves higher on acquiring jack-up rig Jindal Pioneer`
Jindal Drilling & Industries is currently trading at Rs. 852.00, up by 61.10 points or 7.73% from its previous closing of Rs. 790.90 on the BSE.
The scrip opened at Rs. 798.35 and has touched a high and low of Rs. 887.00 and Rs. 798.35 respectively. So far 23449 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 990.50 on 06-Feb-2025 and a 52 week low of Rs. 497.25 on 14-Mar-2024.
Last one week high and low of the scrip stood at Rs. 887.00 and Rs. 761.90 respectively. The current market cap of the company is Rs. 2456.15 crore.
The promoters holding in the company stood at 64.25%, while Institutions and Non-Institutions held 1.69% and 34.05% respectively.
Jindal Drilling & Industries has acquired jack-up rig ‘Jindal Pioneer’ from Discovery Drilling, Singapore, (a joint venture of the company), at a consideration of $75 million. The said acquisition is funded by internal accruals and it shall improve operational synergies, increase scale of operations and profitability of the company. The rig is currently on a bareboat charter.
Jindal Drilling & Industries is one of the leading drilling contractor in India providing service to national and international E&P companies.
