Moreover, the said publication, also recommended Srikalahasthi Pipes Ltd, the erstwhile, Lanco Industries Ltd, the pig iron, iron casting & spun pipes and cement manufacturing company at Rs.131; in this week's edition.
Meanwhile, there were recent media reports that Jindal Tubular (India) Ltd, a wholly owned subsidiary of Jindal Saw Ltd has agreed to operate and maintain certain identified facilities of PSL Limited--this is a short term arrangement for one year which may be extended or modified, based on meeting of certain covenants and mutual acceptance at the appropriate time.
Besides, Jindal Saw Ltd has recently sent a press release that Jindal ITF Limited, a wholly owned subsidiary of the Company (i.e. Jindal Saw Limited) has approved an internal re-structuring of its operations by way of demerger and vesting of its infrastructure business undertaking into JITF Urban Infrastructure Services Ltd, another wholly owned subsidiary of the Company and its waterways business undertaking into Jindal Shipyards Limited, again a wholly owned subsidiary of the Company by way of court sanctioned composite scheme of arrangement U/s 391, 394 and other applicable provisions of the Companies Act, 1956 and under applicable provisions of the Companies Act, 2013. The effectiveness of the scheme is subject to requisite approval by the shareholders, secured and unsecured creditors and sanction by the Hon'ble High Court of Judicature at Allahabad.