FIIs bought 3,51,710 shares & DIIs bought 13,331 shares: Jindal Group-Textile & EV Company Likely To Announce Bonus Shares Next Year
The stock is up by 61 per cent from its 52-week low of Rs 268 per share and gave multibagger returns of 3,700 per cent in 10 years.
Jindal Worldwide Limited informed that a meeting of the Board of Directors of the Company is scheduled to be held on Tuesday, January 07, 2025, inter alia, to transact the following matters:
- To consider a proposal for the issue of bonus equity shares to the equity shareholders of the company and to recommend further approval of shareholders in that respect.
- To consider and approve the increase in authorized equity share capital of the company inter alia to accommodate such issue of bonus equity shares, if required, subject to the approval of the shareholders of the company.
- Any other business items as per the agenda of the meeting
About the Company
Jindal Worldwide Ltd is a diversified conglomerate with a significant presence in the textile and electric vehicle sectors. The company's textile division specializes in manufacturing high-quality denim fabric, premium shirtings, yarn-dyed fabrics, and bottom weights. In the electric vehicle sector, Jindal Mobilitics is focused on producing electric two-wheelers, leveraging its production capacity of 2.5 lakh units per annum. The company's acquisition of Earth Energy in 2022 further strengthens its position in the EV market, enabling it to expand its manufacturing footprint and contribute to India's growing electric mobility ecosystem.
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According to Quarterly Results, the net sales increased by 47 per cent to Rs 570.81 crore and net profit increased by 36 per cent to Rs 17.32 crore in Q2FY25 compared to Q2FY24. In its half-yearly results, the net sales increased by 33 per cent to Rs 1,063.30 crore and net profit increased by 34 per cent to Rs 35.39 crore in H1FY25 compared to H1FY24. In FY24, the net sales decreased by 12 per cent to Rs 1,814.09 crore and net profit decreased by 35 per cent to Rs 75.86 crore in FY24 compared to FY23.
The company has a market cap of over Rs 8,500 crore and has delivered good profit growth of 20.5 per cent CAGR over the last 5 years. FIIs bought 3,51,710 shares & DIIs bought 13,331 shares and increased their stake to 0.21 per cent and 0.03 per cent respectively in September 2024 compared to June 2024. The stock’s 52-week high is Rs 439.80 per share and its 52-week low is Rs 268. The stock is up by 61 per cent from its 52-week low of Rs 268 per share and gave multibagger returns of 3,700 per cent in 10 years. Investors should keep an eye on this small-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.