JTL Industries climbs on completing Phase 1 expansion at its subsidiary
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JTL Industries is currently trading at Rs. 219.80, up by 10.90 points or 5.22% from its previous closing of Rs. 208.90 on the BSE.
The scrip opened at Rs. 225.70 and has touched a high and low of Rs. 225.70 and Rs. 212.45 respectively. So ar 25248 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 276.60 on 28-Feb-2024 and a 52 week low of Rs. 158.55 on 15-Jun-2023.
Last one week high and low of the scrip stood at Rs. 225.70 and Rs. 203.15 respectively. The current market cap of the company is Rs. 3841.14 crore.
The promoters holding in the company stood at 54.30%, while Institutions and Non-Institutions held 4.55% and 41.16% respectively.
JTL Industries has completed Phase 1 expansion at its recently acquired subsidiary, Nabha Steels and Metals. It is set to deliver a production of 5,000 metric tons per month of HR coils, the raw material for the production of ERW Steel Pipes. Further, the second expansion phase is expected to commence shortly, scaling up the production output and adding more products to its portfolio offerings.
This expansion will enhance JTL's total backward integration capacity, support the captive requirements of its Mandi Gobindgarh Punjab plant, and aid EBITDA/Ton at this plant by Rs 2,000 per ton range.
JTL Industries manufactures various grades of galvanised steel tubes and pipes.
