Shares of JTL Industries rallied 10% to reach a day’s high of Rs 242 on 24th September, 2024, following the company’s announcement of a potential stock split. This announcement was made through an exchange filing to the stock exchanges on 24th September, 2024.

The company notified the Bombay Stock Exchange (BSE), National Stock Exchange (NSE), and Metropolitan Stock Exchange of India (MSEI) that its Board of Directors is set to meet on Thursday, 3rd October, 2024.

During this meeting, the board will discuss several important issues, including the proposed stock split.
The company stated that the board will discuss the subdivision or split of equity shares, each with a face value of Rs. 2, in a manner determined by the board.

The board meeting agenda will include a proposal to issue bonus shares to equity shareholders. The agenda will also cover an increase in the company’s authorised share capital.

There will be discussions on necessary changes to the company’s Memorandum of Association. Additionally, any other items permitted by the Chairman will be addressed.

The company reported a revenue of Rs 515.37 crore for the April-June quarter, up from Rs 504.80 crore in the same period last year.

Despite a slight increase in expenses to Rs 478.83 crore from Rs 471.66 crore, the company improved its profitability, surpassing the Rs 25.36 crore profit from the first quarter of the 2023-24 fiscal year.

The company has closed its trading window for insiders, effective immediately, which will remain closed until 48 hours after the announcement of its unaudited financial results for the quarter and six months ending 30th September, 2024.

At 3:08 PM, the shares of JTL Industries were trading 8.77% higher at Rs 239.48 on NSE.

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