JTL Industries Ltd (NSE: JTLIND): Stock market instability is continuing. Correction has been seen for almost two months. During this period, Nifty and Sensex have registered a huge decline.
On Thursday, the Sensex had reached below 77,500, while the Nifty was trading below 23,500. Heavy decline was seen for two consecutive days in the ongoing week of work.
Due to panic sales, Nifty and Sensex both closed Wednesday with a loss of over 1 %. Due to this investors had lost more than Rs 8 lakh crore.
The Stock Rose Again After A 50% Decline
At the same time, stock-specific action is being seen in the market on Thursday. Meanwhile, the share of a smallcap company JTL Industries Ltd has also registered a huge increase.
This stock has dropped by over 52.10% in just the last 5 business days. On Thursday, the share of JTL Industries made their intraday high at Rs 101, up around 7 percent from the closing price of Rs 91.90 on Wednesday.
Shares Trading Ex-stock Split Today
Let us tell you that the company’s share is trading on an ex-stock split date on Thursday. JTL Industries will split each of its shares with a face value of Rs 2 as a share of Rs 1 per share.
Stock splits are corporate actions in which an organization increases its number of outstanding shares by issuing additional shares to current shareholders.
The market capital of a company is not affected by this action, even though the price per share of stock decreases.
Leading Manufacturer Of ERW Steel Pipes
It is known that JTL Industries is one of the largest companies manufacturing Electric Resistance Welded (ERW) steel pipes. Mainly manufactures section pipes and tubes.
The company can produce more than 600,000 metric tonnes every year and its products are exported to many countries around the world.
It has branch offices in the capital Delhi, Mumbai and Chandigarh. Apart from this, JTL Industries has a strong distribution network.
Quick Fact
| Company name | JTL Industries |
|---|---|
| Sector | Steel pipes |
| Type | Small-cap |
| Stock price | ₹97.90 (6.53% up) |
| Stock decline | 52.10% in 5 days |
| Intraday high | ₹101 |
| Increase in value | 7% from ₹91.90 |
| Stock split | 2 to 1 ratio |
| Face value | ₹2 to ₹1 |
| Product Type | ERW steel pipes, section pipes, tubes |
| Production capacity | 600,000 metric tonnes yearly |
| Export markets | Global |
| Office locations | Delhi, Mumbai, Chandigarh |
| Distribution network | Strong |
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