desk
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The decision of the board meeting of JTL Ind came after the market closed. In the board meeting of the company, it has been announced to reduce the face value of Rs 2 to Rs 1. This clearly means that one share will be divided into 2 parts.
This company is JTL Industries Ltd. The company manufactures products related to electric resistance. Apart from this, the company is also in the business of making steel pipes. On Tuesday, the company's stock closed at Rs 239, up 2 percent. The company's market cap is Rs 4700 crore.
The company had announced share split in the year 2021. At that time, shares with a face value of Rs 10 were brought down to a face value of Rs 2.
The promoters' stake is 54.24 percent. FIIs or foreign institutional investors have also bought shares in large numbers. Their stake has increased in the June quarter as compared to March. This stake has increased from 4.48 percent to 5.8 percent.
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