Bonus Share, Stock Split: Shares of JTL Industries Ltd climbed 10% on Tuesday and reached an intraday high of Rs 242.10. There is a big announcement behind this rise in shares. In fact, the company has said that it will consider the split of its equity shares along with the bonus issue on October 3, 2024. Let us tell you that Sharadiya Navratri is also starting from October 3. However, the record date for this has not been announced yet. Let us tell you that this is the second time that the company will do a stock split and issue bonus shares to its shareholders.
Bonus shares have been given before this
Last year, the company had announced a bonus issue of shares in a 1:1 ratio. In this, shareholders got one free share for every share they held till the record date. In the year 2021, the company also approved the splitting of a share with a face value of ₹ 10 into shares with a face value of ₹ 2. Stock split is generally considered a way for a company to increase its outstanding shares, and also improve trading liquidity by making the stock more affordable to its shareholders. Let us tell you that only those investors will be eligible for bonus shares or stock split who will buy the stock before the ex-date. If an investor buys shares on or after the ex-date, they will not be eligible to get bonus shares or stock split.
Company shares
In the last 12 months, the stock of JTL Industries Limited has climbed by about 2%. In five years, it has gained 58%. Let us tell you that the 52-week high price of the company’s stock is Rs 276.60 and the 52-week low price is Rs 167.10. The market cap of the company is Rs 4,468.69 crore.