5,875 Per Cent Multibagger Returns in This Iron & Steel Stock: Board Announce Stock Split From Rs 10 To Rs 2; Check Record Date Inside
The stock is up by 27.5 per cent from its 52-week low of Rs 545.2 per share and gave multibagger of 5,875 per cent in 5 years.
Jai Balaji Industries Ltd. has announced a stock split where each existing equity share with a face value of Rs. 10 will be subdivided into 5 new equity shares with a face value of Rs. 2 each. This decision was made by the company's Board of Directors to enhance liquidity and potentially increase shareholder interest. The total paid-up capital of the company remains unchanged at Rs 1,82,45,02,860. The record date for this stock split has been set as January 17, 2025, which means shareholders holding shares on that date will be eligible for the split.
Jai Balaji Industries Limited, established in 1999, is a prominent player in the iron and steel industry. The company boasts a diverse product portfolio encompassing DRI, pig iron, ferro alloys, steel billets, TMT bars, wire rods, ductile iron pipes, and heavy rounds. With a strategic focus on value-added and specialized products, Jai Balaji is poised for substantial growth, targeting a 25-30 per cent revenue increase and 17-18 per cent EBITDA margins for FY25. The company's expansion plans include ramping up DI Pipe production to 4 lakh tons and increasing the revenue contribution of value-added products to 80 per cent.
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The company has a market cap of Rs 16,500 crore and has delivered good profit growth of 51.6 per cent CAGR over the last 5 years. The stock is up by 27.5 per cent from its 52-week low of Rs 545.2 per share and gave multibagger of 5,875 per cent in 5 years. Investors should keep an eye on this mid-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.