JTL Infra incorporates new subsidiary JTL Tubes in Chandigarh; Stock up 1%

12 Jan 2022 , 09:15 AM

JTL Infra Limited has incorporated a wholly-owned subsidiary company ‘JTL Tubes Limited’ with the office of Registrar of Companies, Punjab, and Chandigarh. The cost of acquisition is Rs5 lakh (50,000 Equity Shares of Rs.10/ each subscribed at par).

The acquired entity belongs to Steel Pipes & Tubes, Structures Manufacturing Industry.

“The company has incorporated as a wholly-owned subsidiary of the company to carry on the business of manufacturers, buyers, sellers, importers, exporters, consultants, stockists, suppliers, distributors, users, wholesalers, retailers, repairers of all types of pipes and tubes namely steel pipes, conduit pipes, seamless pipes and Galvanized pipes among others objects,” company said in a filing on Tuesday.

During early trade on Wednesday, JTL Infra Ltd was trading at Rs252 per piece up by Rs2.8 or 1.12% from its previous closing of Rs249.20 per piece on the BSE.