Shares of JTL Industries Ltd jumped 6 percent on September 24 after the company informed the exchanges that a meeting of the board of directors is set to take place on October 3 to consider split of shares, issue of bonus shares.
The stock was trading 6.4 percent higher before paring some gains to quote at Rs 232.39 on NSE, up 5.55 percent.
The company said the board will consider split of equity shares of the company having a face value of Rs 2 each. It will also consider the proposal to issue bonus shares to the company's equity shareholders and increase the authorised share capital of the company.
Moreover, consequent alteration of memorandum of association of the company will be considered by the board and any other item with the permission of the chairman, the firm’s statement said.
In the first quarter of FY25, the company recorded a net profit growth of 21 percent at Rs 30.7 crore, while the net sales were at Rs 515.38 crore, up 2.1 percent from Rs 504.8 crore in the year-ago period.
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