1:2 Stock Split; Rs 185 Iron & Steel Stock Splits Into Two On November 14; Check New Price

JTL Industries, a smallcap iron and steel company, split its shares into two on November 14, 2024. The stock price which once traded at Rs 185 on NSE, is now below Rs 100 levels. The stock witnessed huge buying sentiment on an ex-split date.

JTL Industries Share Price:

On the ex-date, JTL's stock price closed at Rs 97.90 apiece on NSE, up by 6.53% with a market cap of Rs 3,752.27 crore. The stock's new 52-week high and low is at Rs 139 apiece and Rs 83.45 apiece. Its new upper and lower circuits are at Rs 110.28 apiece and Rs 73.52 apiece respectively. Adjusted price-to-equity ratio on NSE is at 60.32x.

Before the ex-split, the stock price stood at Rs 185 on November 13, 2024.

JTL Industries Stock Split:

JTL fixed November 15 as the record date for determining the eligibility of Shareholders for the purpose of subdivision/split of each Equity Share having face value of Rs. 2/- each into 2 (Two) Equity Shares having a face value of Rs. 1/- each.

However, since November 15 is a market holiday, the ex-date for the stock split took place on November 14, 2024. The stock split ratio is about 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.

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 in 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.