Shares of multibagger JTL Industries Ltd were in focus today after the company announced that its board approved a stock split proposal. Under this plan, the firm will divide one equity share with a face value of ₹2 into two shares with a face value of ₹1 each. This stock split aims to enhance liquidity and make the shares more accessible to smaller investors. The split will only take effect after receiving shareholder approval, expected during an extraordinary general meeting.
If you’re looking to buy shares online, this stock split might make JTL Industries shares a more attractive option. At the close of trading on Thursday, the stock dipped 0.42% to ₹238.45 on the BSE, down from its previous close of ₹239.45. The company’s market capitalisation stood at ₹4,437.98 crore. Approximately 2.59 lakh shares changed hands, generating a turnover of ₹6.24 crore on the exchange.
From a technical standpoint, JTL Industries seems to be holding steady. The relative strength index (RSI) for the stock is 57.7, indicating that the stock isn’t overbought or oversold. The shares are currently trading above their 10-day, 20-day, 50-day, 100-day, 150-day, and 200-day moving averages. Over the past two years, JTL Industries has seen an 88% rally on the BSE, and over five years, the stock has delivered impressive multibagger returns of 2773%.
If you’re considering whether to buy shares online, the stock’s performance, as well as its position in the metal industry, is worth noting.
The company’s decision to split its stock is aimed at boosting the liquidity of its shares in the market. By making the shares more affordable, JTL Industries hopes to attract more retail investors who prefer to buy shares online. The stock split will take place within two months of board approval, pending shareholder consent.
This is not JTL Industries’ first stock split. In October 2021, the company announced its initial stock division, reducing the face value of shares from ₹10 to ₹2. For potential investors looking to buy shares online, these stock splits have historically made the company’s shares more accessible.
JTL Industries Limited specialises in producing electric resistance welded (ERW) steel pipes, which are widely used in engineering and construction projects. The company offers a range of products, including black and galvanised ERW steel pipes and tubes, hollow sections, and structural steel. Additional offerings include solar solutions, logistics services, and packaging and loading services.
For investors who wish to buy shares online, JTL Industries presents a diverse product range, catering to growing sectors like engineering and solar solutions. Its reputation for delivering solid returns adds to its appeal for those exploring stock market investments.
Whether you’re a seasoned trader or just starting to buy shares online, keeping an eye on JTL Industries could be worthwhile as the company continues to make strategic moves like stock splits to enhance investor interest.
For android only