This Stock Gains Rs 3,507 Crore in a Single Day Amid Rally in Jindal Saw Share Price; Single-Day Gain Surpasses Its Market Cap

On Wednesday, March 11, 2026, the NIFTY 50 and SENSEX fell by -1.63% and -1.72% due to weak global sentiment and Brent crude crossing USD 90. The Cabinet’s decision to extend the Jal Jeevan Mission to 2028 triggered strong buying in water and steel pipe stocks.

Jindal Saw Surges on Investor Optimism

Among this, Jindal Saw share price closed at Rs 198.04 today, up Rs 32.19 or 19.41 per cent from the previous session. Investors cheered the move, driving the stock higher. The stock had a previous close of Rs 165.85, opened at Rs 171.00, and hit an Intraday high of Rs 199.02.

Jal Jeevan Mission 2.0:  Cabinet Increased Allocation; Jindal Saw to Benefit 

The rally followed the Cabinet’s approval to extend the Jal Jeevan Mission (JJM) to December 2028. On March 10, 2026, the Union Cabinet, led by Prime Minister Narendra Modi, approved a plan to change the Jal Jeevan Mission (JJM) from just building water infrastructure to focusing on actually delivering water services to people. The plan will also strengthen water management and set up systems to make sure rural communities get safe and reliable piped drinking water for the long term.

The Cabinet has approved the enhancement of total outlay to Rs 8.69 lakh crore with total central assistance of Rs 3.59 lakh crore enhancing from Rs 2.08 lakh crore approved in 2019-20. This has resulted in an addition of Rs 1.51 lakh crore.

This funding boost is expected to aid Jindal Saw, one of the largest manufacturers of steel and plastic pipes. Greater government spending under JJM 2.0 may lead to larger orders for Jindal Saw.

How a 16.75 per cent stake turned into Rs 3,507.5 crore in a single day for Nalwa Sons Investment

Out of this, one interesting fact is that Nalwa Sons Investment Limited holds 16.75 per cent of shares, which is 10,71,00,000 shares of the company. This stake earned them Rs 3,507.5 crore in a single day.

Jindal Saw Share Price Performance

Jindal Saw share price performance delivered strong short-term gains, with 1-week returns of 17.42 per cent and year-to-date returns of 18.6 per cent. However, over the past year, the stock has declined by 23.75 per cent.

About Jindal Saw Limited

Jindal Saw Ltd manufactures LSAW pipes, HSAW pipes, DI pipes, seamless pipes and pellets. The company is a global leader in the coated and bare pipe industry, with a strong track record of supplying a wide range of pipe products to major clients both in India and internationally. It is the world's third-largest producer of rust-free iron pipes.

Disclaimer: The article is for informational purposes only and not investment advice.