Outperforming Jindal Group stock jumps 5% after company announces 4:1 bonus issue

Published 08-01-2025, 02:58 pm
Updated 08-01-2025, 05:15 pm
© Reuters.  Outperforming Jindal Group stock jumps 5% after company announces 4:1 bonus issue
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Shares of this Jindal group company, which is in the business of textile engaged in Denim fabric, yarn dyeing, premium shirtings, bottom weights, and home textiles was up by 5.5 percent intraday trade to Rs.470.95 per share, following the announcement of the bonus share issue.

Price Variation

In Wednesday’s session, Jindal Worldwide Ltd‘s (NS:JINW) share price jumped 5.5 percent to a day’s high of Rs.470.95 per share, from the previous close of Rs.446.25 apiece. The stock reiterated from the day’s high and was trading at Rs. 447.25 which is 0.38 percent higher than the previous closing price. It has delivered returns of over 44.77 percent in the past year and has outperformed the Nifty Index. Recently, the stock has delivered around 49 percent in the past 2 months.

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What happened

The Board of Directors of Jindal Worldwide Ltd had announced 4:1 bonus shares which are 1 share held by the shareholder they are eligible for four fully paid-up equity shares for free and the company would create bonus shares out of free reserves or from securities premium account and it is subjected to shareholders approval.

Financial Performance

Looking at the company’s financials, Jindal Worldwide reported a revenue from operation of Rs.571 crore for Q2FY25, marking a 45.66 percent increase from Rs.392 crore in Q2FY24. However, the Profit After Tax (PAT) was Rs.17 crore, which saw an increase from a profit of Rs.13 crore in the previous year.

The return on equity was 11.05 percent and the return on capital employed stood at 9.83 percent in FY24. The net profit margin stood at 4.17 percent.

Shareholding Pattern

As of September 2024, The company’s promoters were holding around 59.81 percent, Foreign Institutional Investors (FII) were holding around 0.21 percent, Domestic Institutional Investors (DII) were holding around 0.03 percent and the public were holding around 39.95 percent.

Company Profile

Jindal Worldwide Limited (JWL) was established in 1986. It is a prominent Indian textile manufacturer based in Ahmedabad that specializes in denim, premium shirting, and yarn dyeing. With a manufacturing capacity of approximately 140 million meters of denim annually, it integrates advanced technology across its production processes. The company operates multiple divisions which includes Jindal Denims and Jindal Fabric, catering to both domestic and international markets. Recently, JWL has diversified into the electric vehicle sector through its subsidiary, Earth Energy. This strategic expansion reflects its commitment to innovation and sustainability while maintaining a strong focus on quality and customer satisfaction.

Written by – Santhosh S

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