Jindal Saw shares gained on Thursday after Jindal Tubular USA, step down subsidiary of the company had entered into an asset purchase agreement with PSL-North America LLC for the acquisition of identified assets and liabilities of PSL-North America.
The United States Bankruptcy Court for the District of Delaware has passed an order on August 15 authorizing and approving the sale of substantially all of PSL-North America LLC's assets to Jindal Tubular USA LLC in accordance with the terms of the asset purchase agreement, free and clear of all liens, claims, encumbrances and other interests; approving the assumption and assignment of contracts; approving entering into ancillary agreements and granting related relief, the company said.
Shares of the company are trading at Rs 82.40, up Rs 0.85, or 1.04% at the Bombay Stock Exchange (BSE) on Thursday at 10:59 a.m.
The scrip has touched an intra-day high of Rs 82.85 and low of Rs 81.80. The total volume of shares traded at the BSE is 95,369.