1:1 Bonus Share: Buy Small Cap Metals Stock, Target Price Rs 300: Axis Securities

Small cap company JTL Industries shares soared 2.26% in trade today after it reported its financial results today. Last trading price of JTL Industries share on BSE is Rs 253.20 apiece.

Earlier last year, JTL Industries announced 1:1 bonus share with ex-bonus date fixed as September 7, 2023. JTL Industries shares offered return of 11% in last 1-month and rose 45% in last 6-months. Check details below:

Axis Securities Recommends Buy: As per the report issued by Axis Securities dated January 15, "JTL's capacity expansion gets impetus post the company's announcement in Dec'23 to raise Rs 1,310 Cr to enhance the capacity to 2 MTPA by the end of FY27. A fundraising plan involving Rs 540 Cr from the promoter, Rs 270 Cr from nonpromoter, and Rs 500 Cr through QIP will spur growth ahead. Capacity will reach 2MT by the end of FY27 and full utilisation (max ~65% industry standard) on the 2MT capacity will be achieved in FY28." The analyst has assigned buy call to JTL Industries share with target price of Rs 300 from Rs 265 apiece. The analyst has maintained a positive outlook on the sector.

Ventura Shares Q3 FY24 Update: According to the brokerage firm, "In Q3FY24, JTL Industries Ltd (JTLIL) witnessed a QoQ/YoY revenue growth of 13.0%/65.3% respectively to INR 567 cr on account of robust performance in its sales volume. The company's pipe sales volumes grew at a QoQ/YoY rate of 23.5%/76.0% respectively to 1,00,905 MT (68.9% capacity utilization), primarily driven by strong domestic demand for metal pipes from city gas distribution and Jal Jeevan Mission. The company's domestic sales volume grew at a QoQ/YoY rate of 25.8%/84.2% respectively to 97,259 MT."

JTL Industries Stock Performance & Return: The 52-week high price of JTL Industries share on BSE is Rs 267.45 per share and 52-week low price is Rs 142.75 per share, respectively. The company has a market capitalisation of Rs 4320.43 crore. JTL Industries shares gained 45% in last 6-months, soared 63% in last 1-year, rose 92% in last 2-years, and rose 742% in last 3-years. In last 5-years, JTL Industries shares gained 1774%.

JTL Industries Financials: The iron and steel products company announced a 37.21% surge in its revenue for the quarter ended September 2023 to Rs 502.10 crore as against Rs 365.92 crore declared in the corresponding quarter of last year. The company's profit surged 33.54% to Rs 27.91 crore in Q2 as against Rs 20.90 crore declared in 2022.

JTL Industries Traded 1:1 Ex-Bonus: JTL Industries shares traded ex-bonus on According to the BSE filing of JTL Industries dated August 21, 2023, "Pursuant to Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, this is to inform that the Company fixed Thursday, the 07th day of September, 2023 as the Record Date for the purpose of ascertaining the eligibility of shareholders for issuance of bonus shares in the ratio of 1:1 i.e. one new bonus equity share of Rs. 2/- each for every one existing equity share of Rs. 2/- each held subject to the approval of shareholders in the ensuing 32nd Annual General Meeting of the company to be held on 30th August, 2023."

JTL Industries About: JTL Industries Limited produces and exports galvanized steel tubes and pipes as well as heavy structural steel and hollow sections. JTL Industries is one the largest producer of Electric Resistance Welded (ERW) steel pipes including one of the largest section pipe & tube manufacturers in India, with a capacity to produce more than 6 Lakh Metric Tonnes per annum. It caters extensively to the region and exports to various countries globally. The company's vast distribution network is spread across India, having branch offices in Delhi, Mumbai & Chandigarh, making it one of the leading GI pipe manufacturers in India, according to its official website.

Disclaimer: The stock has been picked from the brokerage report of Axis Securities and Ventura. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.