Meanwhile, the BSE Sensex was down 30.17 points, or 0.18%, to 16,637.84.

On BSE, 19,000 shares were traded in the counter as against an average daily volume of 24,868 shares in the past one quarter.

The stock hit a high of Rs 133.10 and a low of Rs 130 so far during the day. The stock had hit a 52-week high of Rs 180.95 on 28 March 2012. The stock had hit a 52-week low of Rs 109 on 26 August 2011.

The stock had underperformed the market over the past one month until 11 June 2012, falling 2.53% compared with the Sensex's 2.30% rise. The scrip had also underperformed the market in past one quarter, sliding 20.59% as against 4.77% fall in the Sensex.

The mid-cap company has an equity capital of Rs 55.24 crore. Face value per share is Rs 2.

According to reports, the 25-year deal for the factory is part of Iraq's plans to revive its neglected industry sector and the pipelines produced will be used in oil development projects in the country's southern oilfields.

Jindal Saw's net profit declined 36.25% to Rs 51.12 crore on 31.39% rise in net sales to Rs 1518 crore in Q4 March 2012 over Q4 March 2011.

Jindal Saw is the leading production hub of saw pipes primarily used for transportation of oil and gas.