JTL Industries, a smallcap iron and steel stock, witnessed gaining momentum on October 29, 2024, after the company announced its record date for a stock split of 1:2 ratio. The stock price gained as much as 3.7% on BSE. The upcoming stock split comes after the company carried a bonus issue of a 1:1 ratio and delivered a dividend of Rs 0.25 per share since 2023. Check key details of the upcoming split.
JTL Industries Share Price:
After market hours of Dhanteras, JTL Industries share price ended at Rs 200.70 apiece, up by 3.3% on BSE, with a market cap of Rs 3,735.38 crore. In the trading hours, the stock gained nearly 3.8% to hit an intraday high of Rs 201.60 apiece.
The stock's 52-week high and low is at Rs 276.60 apiece and Rs 167.10 apiece respectively.
YTD, JTL shares dipped 15.70% on BSE. The latest week has been broadly positive for the stock due to its upcoming split.
JTL Industries Stock Split:
The company announced that it fixed November 15, 2024, as the record date for determining the eligibility of Shareholders for the purpose of subdivision/split of each Equity Shares having face value of Rs. 2/- each into 2 (Two) Equity Shares having face value of Rs. 1/- each.
Hence, the stock split ratio is at 1:2.
JTL Industries Corporate Actions:
The latest stock split comes after the company delivered dividends of Rs 0.25 per share for which it turned ex-date on August 30, 2024. This was after it delivered its bonus issue of a 1:1 ratio in September 2023.
However, the latest split is not the first time for JTL. Earlier, in October 2021, the company split by 1:5 ratio, where its face value of Rs 10 each was trimmed to Rs 2 each.
JTL Industries Share Price Target
"JTL Industries stock price is slightly bullish on the Daily charts with strong support at 196. A Daily close above resistance of 210 could lead to a target of 240 in the near term," said A R Ramachandran, Independent Research Analyst.
About JTL Industries:
JTL Industries Limited (formerly known as JTL Infra Limited) is the flagship company of the Jagan Group of Companies, with its corporate office located in Chandigarh and four plants located pan-India.
Since its inception in 1991, JTL Industries Limited has grown from a manufacturer of ERW Black Pipes to a producer of value-added products such as galvanized steel pipes, solar module mounting structures, and large-diameter steel tubes & pipes.
With four state-of-the-art facilities, JTL Industries Limited has a total manufacturing capacity of 5,86,000 MTPA, serving PAN India and over 20 countries across five continents.
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