Usha Martin Soars High in Intra-day Trade Extending its Month-Long rally in the BSE
Rajeev Jhawar is an Indian industrialist and son of Brij Kishore Jhawar. He is the Managing Director of Usha Martin Limited. He started his journey as the vice president (commercial) and became the Managing Director of the company in 1998. Established in the year 1960, Usha Martin Limited is a multi-unit and multi-product organization in the wire rope business. They are one of the world’s leading manufacturers of wire rope. Their wire rope manufacturing facilities are located in Ranchi, Hoshiarpur, Dubai, Bangkok and UK.
Rajeev Jhawar, and Indian Industrialist and son of Brij Kishore Jhawar is the Managing Director of Usha Martin Limited. He is an aluminous of Ranchi University and London Business School. He started his journey as the vice president (commercial) and became the Managing Director of the company in 1998. His leadership qualities, sharp business acumen, in depth understanding of business administration and strategic decision making has taken the group do an altogether higher growth trajectory.
Rajeev Jhawar is on the boards of various corporates including Orient Cement Limited (part of CK Birla group companies) and Neutral Publishing House Limited which has a leading regional newspaper under the flagship title ‘Prabhat Khabar’ published in the Indian cities of Patna, Dhanbad, Ranchi, Jamshedpur and Kolkata. He is also a director on the boards of Usha Martins Overseas subsidiaries that is Rajeev Jhawar Usha Martin International Limited at UK, Usha Siam Industries public company limited at Thailand and Brendon Wire Ropes FZCo at Dubai.
Rajeev Jhawar always strives to upbring Usha Martin to greater heights. The stock of the wire rope manufacturer Usha Martin has zoomed 54 per cent in the past one month as compared to a 4 per cent rise on the S&P BSE Sensex. The stock traded at its highest level since January 2008, when it hit a record high of Rs 154. Shares of Usha Martin hit an over 14-year high of Rs 134.40, on soaring 8 per cent on the BSE in intra-day trade extending its month-long rally. Meanwhile, for the first nine months ended (April to December) of financial year 2021-22, Usha Martin had reported a strong 119 per cent year-on-year (YoY) growth in its consolidated net profit at Rs 182.70 crore.
According to MD Rajeev Jhawar, “the global demand for the oil and offshore market saw improvement during the year under review which in turn boosted the demand for speciality rope products of the company catering to the said sector. “It is expected that the demand from the said sector shall sustain in the next fiscal and is expected to provide business opportunities to the Company. Further with steady infrastructure spending by the government, speciality products used in construction and infrastructural sector may be growth drivers for the company”.
