JTL Industries board has approved a split of one share into two.

The flagship business of the Jagan Group of Companies is JTL Industries Limited, formerly known as JTL Infra Limited. It has four plants spread across India in addition to its corporate headquarters in Chandigarh. JTL Industries Limited was founded in 1991 and has since expanded from producing ERW Black Pipes to value-added products like solar module mounting structures, galvanized steel pipes, and large diameter steel tubes and pipes. JTL Industries Limited serves PAN India and more than 20 countries on five continents with a total manufacturing capacity of 5,86,000 MTPA through its four cutting-edge facilities. Our company boasts an extensive product line with over 1000 SKUs, a committed staff of over 600 skilled workers, and a network of more than 800 dealers and distributors.

JTL Industries Ltd. stock split:

During its meeting on Thursday, the board of directors of JTL Industries Ltd. approved a 1:1 split of the company’s shares and rejected a proposal for a bonus issue of shares. Each equity share with a face value of Rs. 2 would be divided into two equity shares with a face value of Rs. 1 each as part of the stock split. The company stated in an exchange filing that it will notify the stock exchanges of the record date for this split in due course. It is interesting to note that the board rejected all proposals pertaining to the bonus problem. After the board gives its approval, the shares should be divided in half within two months.

Over 6% of JTL Industries Ltd.’s stock has lost value:

The stock of JTL Industries Ltd. is currently trading at Rs. 223.65 per share, down over 6% intraday. and the stock’s low was Rs. 220.75 per share; this is a result of both the stock split and negative market sentiment. In the past year, the stock has only increased by 9%, and year-to-date (YTD), it has increased by 7%.

Conclusion: JTL Industries’ management emphasized that the goal of the share division is to improve the company’s share liquidity on the capital market. It will also lower the price of the shares and increase accessibility for small investors.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.