This smallcap stock rose 20% on huge volume in weak market; trades ex-bonus

Jindal Worldwide today turned ex-date for 4:1 bonus issue; i.e. 4 new equity shares for every 1 existing equity share to the eligible equity shareholders of the company as on the record date.

Shares of Jindal Worldwide (JWL) surged 20 per cent to Rs 82.65 on the BSE in Friday’s intra-day trade amid heavy volumes in an otherwise weak market. Today, the stock of smallcap company turned ex-date for bonus issue in ratio of 4:1 i.e. 4 (Four) new fully paid-up equity shares of Rs 1 each for every 1 (One) existing fully paid-up equity share of Rs 1 each held, to the eligible equity shareholders of the company as on the record date.

 

At 02:03 PM; Jindal Worldwide traded 19.6 per cent higher at Rs 82.40 on the BSE. In comparison, the BSE Smallcap index was down 3 per cent at 5,529.62. As many as 11.64 million equity shares changed hands on the NSE and BSE.

 

Shares of Jindal Worldwide had hit a 52-week high of Rs 94.19 (adjusted to bonus issue) on January 8, 2025.

 

JWL is Asia’s largest fully integrated manufacturer of denim fabric and enjoys a dominant share in the domestic market and it has garnered a prominent share of the Indian denim market. The company’s product range includes Rich Cotton, Casual Fabrics, Striped Fabrics, Microdot Fabrics, Classic Fabrics and Western Designs, which are woven on its contemporary equipment fleet.

 

JWL has entered into the Electric Vehicle (EV) Industry. Jindal Mobilitric has set-up state of the art EV Manufacturing Plant with Annual Capacity of 2.5 Lakh Vehicles in Ahmedabad, Gujarat. 

 

As Battery is Core of the Electric Vehicle, thus JM is also setting-up Fully Automated Battery Manufacturing Plant in Ahmedabad, Gujarat. The objective of setting up in  house battery plant is to ensure highest level of Battery Safety which builds consumers trust on EV Product resulting in faster adoption of EV in India and around the globe. JM Exclusive Dealership network presence has expanded to 12 States of India with One Overseas market Nepal presence, the company said in its FY24 annual report.

 

Meanwhile, during the first nine months (April to December) of the financial year 2024-2 (9MFY25), JWL reported 13.4 per cent year-on-year (YoY) growth in consolidated profit at Rs 53.84 crore. The company posted profit of Rs 47.47 crore in 9MFY24. Revenue from operations grew 39.6 per cent YoY at Rs 1,682.50 crore, against Rs 1,204.80 crore during the same period of last fiscal.