JTL Industries soars on commencing operations at RCI’s plant
JTL Industries is currently trading at Rs. 92.26, up by 1.57 points or 1.73% from its previous closing of Rs. 90.69 on the BSE.
The scrip opened at Rs. 91.89 and has touched a high and low of Rs. 92.59 and Rs. 90.59 respectively. So far 8038 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 138.30 on 28-Feb-2024 and a 52 week low of Rs. 78.41 on 17-Feb-2025.
Last one week high and low of the scrip stood at Rs. 92.59 and Rs. 78.41 respectively. The current market cap of the company is Rs. 3624.61 crore.
The promoters holding in the company stood at 48.91%, while Institutions and Non-Institutions held 7.22% and 43.88% respectively.
JTL Industries has commenced operations at RCI Industries & Technologies’ (RCI) plant. The company has received permission from the National Company Law Tribunal (NCLT) to commence operations at the RCI plant. The company has inked an Memorandum of understanding (MoU) with RCI for production of up to 200MT/month of copper and brass alloys via job-work. Once the transaction closure is approved by the NCLT, RCI’s plant will be under complete ownership of JTL and is expected to significantly contribute to the topline by FY27.
RCI Industries & Technologies’ manufacturing plant in Baddi, Himachal Pradesh spans 27000 square meters, boasting an installed capacity of 15000 MTPA for copper and brass strips. Of this, up to 6000 MTPA can be dedicated to the production of value-added products as per demand. This highly value-accretive strategic acquisition was entered into considering JTL's goals to expand across new sectors, particularly defense supplies. As India is focused on self-reliance and indigenous manufacturing through initiatives like 'Make in India', JTL recognized the acquisition as an opportunity to supply bullet casings and other non-ferrous metal products critical to the defense sector.
JTL Industries is an India-based company engaged in manufacture and sale of ERW Black and Galvanized steel pipes and Tubes, hollow sections and structural steel that are used in engineering and construction projects.
