Shares of multibagger JTL Industries Ltd hit a record high today after the maker of iron and steel products reported a 37.21% rise in revenue for the quarter ended September 2023. Revenue climbed to Rs 502.10 crore in Q2 against Rs 365.92 crore in the September 2022 quarter. Profit climbed 33.54% to Rs 27.91 crore in Q2 compared to Rs 20.90 crore in the September 2022 fiscal.
JTL Industries shares gained 3.10% to a high of Rs 242.15 today against the previous close of Rs 234.85 on BSE. Market cap of the firm climbed to Rs 4015.20 crore.
A total of 0.95 lakh shares of the firm changed hands amounting to a turnover of Rs 2.23 crore on BSE.
In terms of technicals, the relative strength index (RSI) of the JTL Industries stock stands at 60.5, signaling it's trading neither in the overbought not in the oversold zone. JTL Industries shares are trading higher than the 5 day, 10 day, 20 day, 50 day, 100 day, 150 day, 200 day moving averages. Earnings per share (diluted) climbed to Rs 1.53 in Q2 against Rs 1.65 in the eptember 2023 quarter.
The stock has zoomed 1518.85% in the last three years. During the period of two years and one year, the stock climbed 155% and 70%, respectively. In comparison, Sensex has zoomed 63.66% in three years. The metal stock hit a yearly low of Rs 118.33 on October 17, 2022.
Profit before tax rose to Rs 37.80 crore in Q2 against Rs 29.74 crore in the September 2022 quarter. However, expenses climbed to Rs 467.31 crore in Q2 compared to Rs 337.24 crore in the September quarter of the previous fiscal.
JTL Industries Limited is a producer of electric resistance welded (ERW) steel pipes including pipe and tube manufacturers in India. The company produces black and galvanized ERW steel pipes and tubes, hollow sections and structural steel that are used in engineering and construction projects. Its product includes galvanized steel tubes and pipes, scaffolding fittings and systems, hollow sections, LTZ sections, and mild steels angles/channels. Its services include solar solutions, logistic services, and packaging and loading services.
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