JTL Industries announces 1:2 stock split

4 Oct 2024 , 12:26 PM

JTL Industries Ltd.’s board has decided to split an equity share worth ₹2 into two ₹1 shares.

The record date for the aforementioned corporate action will be communicated to the stock exchanges in due course, the business stated in an exchange filing.

In an update, JTL Industries stated that the partition of shares will help to boost the liquidity of the company’s shares in the capital market while also making the shares more affordable and accessible to small investors. Its shares will be split within two months of the board’s consent.

JTL Industries stated that the bonus issue has not been accepted by the board.

This is the company’s second corporate action.

Last year, the company announced a 1:1 share bonus issuance, in which owners received one free share for every one they held on the record date.

In 2021, the firm approved splitting shares with a face value of ₹10 into ₹2 each.

In a business update on October 1, JTL Industries reported its highest-ever sales volume in the second quarter of the current fiscal year.

The sales volume increased to 1.03 lakh MT in Q2FY25, up 26.32% from 81,686 MT in the same period the previous year, owing to high demand for heavy constructions.

The number also includes sales from recently purchased Nabha Steels and Metals.

JTL’s sales volume in the first half of FY25 totalled 1,99,593 MT, up 25.49% from 1,59,028 MT in the same period last year. 

At around 10.44 AM, JTL Industries was trading 5.13% lower at ₹226.52, against the previous close of ₹238.78 on NSE. The counter touched an intraday high and low of ₹232.98, and ₹220.75, respectively.

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