Shares of JTL Industries Ltd climbed by 6% on September 24 after the company announced that its board of directors will meet on October 3 to consider a share split and the issue of bonus shares. Following the news, the stock traded 6.4% higher before settling at ₹232.39 on the NSE, marking a 5.55% increase.
The company plans to consider splitting equity shares of ₹2 each. Issuance of bonus shares will also be considered. Increase of authorized share capital and appropriate alteration of the memorandum of association shall be deliberated upon by the board.
JTL Industries reported strong financial performance, with net profit rising by 21% to ₹30.7 crore for Q1 FY25. Simultaneously, net sales rose by 2.1% to ₹515.38 crore as compared with ₹504.8 crore in the same period a year ago.
These deals are a reflection of the company’s continuous effort to maximize shareholder value while maintaining growth momentum.
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Source: Moneycontrol
News Desk
