India's Jindal Saw, Maharashtra Seamless fall on report of raids in antitrust case

September 16, 2025 • 6:59 AM

RReuters

** Steelmakers Jindal Saw NSE:JINDALSAW falls 1.3% to 208.69 rupees; Maharashtra Seamless NSE:MAHSEAMLES down as much as 1.58% to 630 rupees

** India's antitrust inspectors conducted surprise raids in and around New Delhi on Monday in alleged case of bid rigging, Reuters reports; search ops now over

** Case triggered by complaint from Oil and Natural Gas Corporation NSE:ONGC in 2023, related to bidding of certain tenders by steel pipe companies, report adds

** Competition Commission of India, companies did not respond immediately to Reuters' requests for comment

** YTD, JIND falls ~27%, MHSM down ~10%

India's Jindal Saw, Maharashtra Seamless fall on report of raids in antitrust case

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