High ROE & high ROCE multibagger stock; Board likely to announce bonus shares!

The stock gave 70 per cent returns in just 1 year and generated multibagger returns of 285 per cent in 2 years.

JTL Industries Ltd informed that a meeting of the Board of Directors of the company will be held on Saturday, July 29, 2023, inter-alia to consider to approve the following:

1. Issuance of fully paid bonus equity shares to the members of the Company subject to such regulatory/ statutory approvals as may be required, including the approval of the shareholders of the Company and other allied activities.

2. Increase in Authorised Share Capital of the Company and consequent Amendment to the capital clause of Memorandum of Association of Company subject to such regulatory/ statutory approvals as may be required, including the approval of the shareholders of the Company.

3. Unaudited Financial Results for the first quarter ended June 30, 2023.

On Tuesday, shares of JTL Industries Ltd zoomed 1.88 per cent to Rs 347.35 per share from its previous closing of Rs 340.95. The stock has a 52-week high of Rs 372.70 and a 52-week low of Rs 164.75.

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.

The shares of the company saw a spurt in volume by more than 1.35 times on BSE. The company has a market cap of over Rs 2,900 crore. The stock has an ROE of 60 per cent and a ROCE of 55.80 per cent.

The stock gave 70 per cent returns in just 1 year and generated multibagger returns of 285 per cent in 2 years. Investors should keep an eye on this small-cap stock.