1,550 per cent returns: This multibagger small-cap stock is set to trade ex-bonus tomorrow; do you own it?
The stock gave multibagger returns of 120 per cent returns in just 1 year and a whopping 1,550 per cent in 3 years.
The Indian stock market was in red today, with the benchmark indices Sensex and Nifty trading lower. The Sensex plunged 0.38 per cent at 65,530, while the Nifty is down by 0.40 per cent at 19,498. About 1,764 shares have advanced, 1,803 have declined, and 9 were unchanged on BSE.
Though the market is in red, shares of JTL Industries Ltd surged 1.04 per cent to make a new 52-week high of Rs 436 per share from its previous closing of Rs 431.55. In the recent trading sessions, the stock is hitting back-to-back 52-week highs.
The Board of Directors of JTL Industries Ltd recommended a bonus issue of equity shares in the ratio of 1:1 i.e., 1 new equity share of Rs 10 each for every 1 existing equity share of Rs 10 each held by the company's shareholders as of the record date, subject to shareholder approval. The company set the record date for bonus shares as Thursday, September 07, 2023.
Earlier, the company previously declared a final dividend of Rs 0.20 per share which ex-traded on August 04, 2023.
JTL Industries Limited manufactures steel products. The company offers electric resistance welded steel pipes, tubes, hollow sections, and structural steel products. JTL Industries serves customers worldwide.
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The net sales increased by 37.16 per cent to Rs 504.80 crore, the operating profit increased by 105.25 per cent to Rs 36.30 crore and the net profit increased by 110.12 per cent to Rs 25.37 crore in Q1FY24 over Q1FY23.
The company has a market cap of over Rs 3,500 crore. The stock has an ROE of 30.1 per cent and a ROCE of 34.6 per cent. The promoters of the company have increased their stake by 12.6 per cent over the last quarter.
The stock gave multibagger returns of 120 per cent returns in just 1 year and a whopping 1,550 per cent in 3 years. Investors should keep an eye on this Small-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.