JTL Industries Limited, a small-cap company in the iron and steel sector, gained attention on October 29, 2024, with a stock price increase of 3.7% following its announcement of a 1:2 stock split. The split, which is set for a record date of November 15, 2024, will reduce the face value of each share from ₹2 to ₹1, effectively doubling the number of shares held by investors. On Dhanteras, the stock closed at ₹200.70 on the BSE, having reached an intraday high of ₹201.60 and achieving a market cap of ₹3,735.38 crore. Over the last year, JTL Industries’ stock has ranged between ₹276.60 and ₹167.10.
This upcoming split is part of JTL’s series of shareholder-friendly actions. In September 2023, the company issued a 1:1 bonus, and in August 2024, it paid a dividend of ₹0.25 per share. This isn’t JTL’s first split either—the company previously split its shares in a 1:5 ratio back in October 2021.
Since its founding in 1991, JTL Industries has grown from manufacturing ERW Black Pipes to producing a range of value-added products, including galvanized steel pipes, solar module mounting structures, and large-diameter steel tubes. Headquartered in Chandigarh, the company has four production plants across India with a total manufacturing capacity of 586,000 MTPA, serving markets across India and exporting to over 20 countries across five continents.
Disclaimer: This information is for informational purposes only and should not be considered financial advice. Please consult a financial advisor before making investment decisions. Investments in the stock market are subject to risks, including loss of principal.
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