Shares of JTL Industries Industries saw a significant surge of up to 9.50% at Rs 240 per share on the BSE during Tuesday’s trading session. The jump came after the company announced plans to discuss a potential stock split and bonus shares issuance during a board meeting. While the specifics of the stock split ratio and bonus shares amount have not been finalized, this news has certainly caught the attention of investors.
A stock split divides existing shares into smaller units, while a bonus issue provides existing shareholders with additional free shares. These actions can often indicate confidence in the company’s performance and future prospects.
In addition to these considerations, the company’s board will also review the possibility of increasing the authorized share capital and making corresponding changes to the memorandum of association. This move reflects a proactive approach to managing the company’s growth and capital structure.
JTL Industries is a key player in the production of Electric Resistance Welded (ERW) steel pipes in India, with a strong focus on section pipes and tubes. With a robust production capacity exceeding 600,000 metric tonnes per annum, the company caters to a diverse range of regions and exports its products globally. Its reputation as a leading manufacturer of galvanized iron (GI) pipes in India underscores its market position.
In terms of financial performance, the company reported a notable 21% year-on-year increase in net profit for the June quarter of FY25, reaching Rs 30.70 crore. This growth trajectory is supported by a rise in net sales to Rs 515 crore during the same period. With a market capitalization of Rs 4,438.91 crore on the Bombay Stock Exchange, JTL Industries continues to demonstrate resilience and growth in a competitive market.
As of the latest update, JTL Industries shares were trading at Rs 240, reflecting a 9.14% increase. In comparison, the BSE Sensex was trading 0.18% higher at 85,078 levels. The company’s price to earnings multiple stands at 33.05 times, with an earning per share of Rs 6.65. The 52-week high and low for the company’s shares are Rs 276.60 and Rs 167.10 respectively.
Overall, the market response to JTL Industries’ strategic decisions and financial performance remains positive, highlighting the company’s position as a key player in the steel pipes industry. Investors will be watching closely to see how these developments unfold and impact the company’s future growth trajectory.
