Bonus Stock: Steel pipes maker JTL Industries has introduced to distribute bonus shares to its traders. The firm in an alternate submitting stated that the bonus can be issued in the ratio of 1:1. Bonus shares are extra shares that listed firms problem to present shareholders for gratis. The train is finished underneath the rules of the SEBI. It will increase liquidity and inspired retail participation.
“Approved the issue of Bonus shares in the ratio of 1:1 i.e. 1 (one) equity shares of Rs 2 each for every 1 (One) equity shares held by the shareholders of the company as on the record date,” it stated in a BSE submitting.
The bonus is topic to the approval of shareholders on the ensuing AGM. The report date for the problem of bonus shares shall be intimated in due course, the submitting added.
The firm made the announcement concerning bonus issuance in its quarterly earnings. Its consolidated internet revenue greater than doubled to Rs 25.37 crore throughout June quarter, on account of upper revenues. It had clocked a internet revenue of Rs 12.08 crore in the course of the April-June interval of the previous 2022-23 fiscal, it stated in a regulatory submitting.
The revenues from operations additionally rose by 37 per cent to Rs 504.80 crore, from Rs 368.03 crore in the year-ago quarter. Expenses had been at Rs 471.66 crore, as towards Rs 354.46 crore.
Its shares on Tuesday traded increased by greater than 4 per cent at Rs 391 on BSE. The inventory has delivered a return of 81 per cent in the final one yr and 226 per cent in two-year.
JTL is the most important producer of electrical resistance welded (ERW) metal pipes in India, with a capability to supply greater than 6 lakh metric tons each year. The firm additionally exports its merchandise to numerous offshore markets.
