JTL Industries 2024 stock distribution: Record date set for November 15. Details here

2024 Stock Split: Pipe manufacturer JTL Industries has announced a record date for its upcoming stock split. The company has set November 15, 2024 as the record date to determine whether shareholders will comply with its 2:1 stock split.

Earlier this month, on Oct. 3, the company announced its board of directors approved a 2:1 stock split.

“The Board of Directors of the Company in its meeting held today i.e. October 3, 2024 considered and approved the demerger/division of 1 (one) share of the Company of face value Rs. 2/- each, for 2 (two) shares of the Company of face value Rs. 1 each, subject to shareholder approval to be obtained at the next extraordinary general meeting and such other approvals as may be required,” the company said in an exchange filing.

After the share split, the par value of JTL Industries shares will come down from Rs. 2 to Re. 1.

Impact of shares

Shares of JTL Industries rose after announcing a record-breaking stock split date. The stock rose more than 3 percent to an intraday high of Rs. 200.90 on the BSE.

However, these stocks in the BSE Smallcap index have been in a downward trend, losing 14 percent in the last month, 12 percent in the six months and 10 percent in the year.

JTL Industries is one of the largest ERW steel pipe manufacturers in India and a major manufacturer of profiled pipes. The company can produce more than 600,000 metric tons every year. It serves a wide area and exports to many countries around the world. With branches in Delhi, Mumbai and Chandigarh, JTL Industries has a strong distribution network, making it one of the leading manufacturers of GI pipes in India.

On Wednesday, October 30, a meeting of the company’s board is planned to review and approve the results of the second quarter.

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