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JTL Industries ‘multibagger stock’ at lifetime high post Q2FY24. What is it?
On Tuesday, the steel pipe maker reported a 37% YoY rise in its total income for Q2 2023-24.
Shares of JTL Industries Limited are among the ‘multibagger stocks’ that the Indian stock market has seen in recent years. On Tuesday, the steel pipe maker declared its numbers for the second quarter (Q2) of the ongoing fiscal (2023-24) and shortly after, the company's shares reached a life-time high.
What is a ‘multibagger stock’?
Such a stock gives a return that is several times the latter's cost and, therefore, is called a ‘multibagger.’ If a stock doubles its price, it will be called a ‘two-bagger’ while one that fetches 10 times the original value of its price, is called a ‘10-bagger.’
As per Economic Times, these stocks are great investment options as these are 'undervalued' and have ‘strong fundamentals.’
JTL Industries share price history
As per HT's sister website Mint, this JTL' small-cap stock traded ex-bonus for finding eligible shareholders for issuance of bonus shares in a ratio of 1:1. This means that each eligible shareholder was awarded a bonus point for every one share they held on the bonus share record date.
Also, this small-cap stock can be traded on both Bombay Stock Exchange (BSE) and National Stock Exchange (NSE). It split into five shares with a face value of ₹2 per share. Its current market cap is ₹4019 crore and a current trade volume of around ₹14.89 lakh on NSE.
JTL Industries Q2 results 2023
The company reported a total income of around ₹505 crore, as against ₹367 crore same time last year, a year-on-year (YoY) rise of 37%.
