1:1 Bonus Share: Promoter bought 3,00,000 shares and FIIs bought 68,63,325 shares of this multibagger debt-free stock; do you own it?

The stock gave multibagger returns of 307 per cent in 3 years and a whopping 1,400 per cent in 5 years.

Today, the stock was trading in red with the BSE Sensex Index down by 0.75 per cent and the NSE Nifty-50 Index down by 0.80 per cent. On the other hand, the BSE Mid-Cap Index and the BSE Small-Cap Index were in red too, down 1 per cent and 0.50 per cent respectively.

Though the market was in red, this multibagger small-cap stock from the iron & steel sector was trending on BSE, being one of the Top Gainers. The stock rose 6.44 per cent to Rs 195.75 per share from its previous closing of Rs 183.90 per share. The stock’s 52-week high is Rs 276.60 per share and its 52-week low is Rs 142.75. The stock gave multibagger returns of 307 per cent in 3 years and a whopping 1,400 per cent in 5 years.

The stock name is JTL Industries Ltd.

JTL Industries Ltd, a leading manufacturer in India, supplies steel tubes, pipes, and related products. Their offerings include ERW pipes, galvanized pipes, and even solar structures. Operating across various industries like infrastructure and energy, JTL boasts a wide client base including Tata Power, Ashok Leyland, and Siemens. With a current capacity of nearly 590,000 MTPA and plans to expand to 1 million MTPA by 2025, they are continuously focusing on increasing the production of value-added products.

The promoter of the company, Mr Pranav Singla bought 3,00,000 shares or 0.17 per cent via open market as per disclosure available on the exchange. His stake increased from 1.07 per cent to 1.24 per cent. Additionally, in February 2024, FIIs bought 68,63,325 shares and increased their stake to 4.62 per cent compared to 1.62 per cent in December 2023.

JTL Industries Limited (JTL) is on a major growth spurt, having become debt-free and on the verge of receiving new technology that will significantly expand its product range and capacity. This comes on the heels of record-breaking sales and year-to-date performance, exceeding their entire previous year's volume in just nine months. To capitalize on this momentum, JTL is investing heavily in an expansion project and has seen increased investor confidence reflected in a doubling of shares through stock splits and bonus shares, along with a substantial rise in holdings by Foreign Institutional Investors (FIIs).

According to Quarterly Results, the net sales increased by 65.26 per cent to Rs 567.35 crore and net profit increased by 47.24 per cent to Rs 30.18 crore in Q3FY24 compared to Q3FY23. According to the nine-month results (9MFY24), the net sales increased by 46.1 per cent to Rs 1,574.3 crore and net profit increased by 56.1 per cent to Rs 83.5 crore in 9M FY24 compared to 9M FY23. The net sales increased by 15 per cent to Rs 1,547 crore and net profit increased by 48 per cent to Rs 90 crore in FY23 compared to FY22.

Disclaimer: The article is for informational purposes only and not investment advice.