JTL Industries stock split 2024: Record date fixed on November 15. Details here

Stock Split 2024: JTL Industries, a pipes and tubes manufacturer, has announced the record date for its upcoming stock split. The company has set November 15, 2024, as the record date to determine the eligibility of shareholders for its 2:1 stock split.

Earlier this month, on October 3, the company announced its board's approval for the stock split in the ratio of 2:1.

“The Board of Directors of the Company, in their meeting held today, i.e., October 3, 2024, considered and approved the sub-division/split of 1 (one) Equity Share of the Company, having a face value of Rs. 2/- each, into 2 (two) Equity shares of the Company, having a face value of Rs. 1 each, subject to the shareholders’ approval, to be obtained in the ensuing extraordinary general meeting and such other approvals as may be required,” the company stated in an exchange filing.

Following the stock split, JTL Industries' shares' face value will decrease from Rs. 2 to Re. 1.

Stock Impact

After the announcement of the record date for the stock split, JTL Industries shares were trading higher. The stock rose over 3 per cent to a day’s high of Rs. 200.90 on the BSE.

However, this BSE Smallcap index stock has been in a downward trend, shedding 14 per cent in the past month, 12 per cent in six months, and 10 per cent in a year.

JTL Industries is one of the largest producers of Electric Resistance Welded (ERW) steel pipes in India and a major manufacturer of section pipes and tubes. The company can produce over 600,000 metric tonnes each year. It serves a wide area and exports to many countries around the world. With branch offices in Delhi, Mumbai, and Chandigarh, JTL Industries has a strong distribution network, making it one of the top GI pipe manufacturers in India.

The company’s board is scheduled to meet on Wednesday, October 30, to consider and approve the second quarter results.

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