JTL Industries Ltd: In the past three years, the value of JTL Industries Ltd. shares has multiplied. The stock, which closed at Rs 26.9 on August 28, 2020, reached Rs 398.85 on August 29, 2023, representing a return of 1,382.71% over three years. During the two-year and one-year periods, the stock increased by 151% and 98.73%, respectively. In three years, the Sensex has increased by 65 percent. The stock’s annual low was Rs 185.70 on September 16, 2022, and its all-time high was Rs 412.60 on August 8, 2023.
On BSE, JTL Industries shares ended the previous session 0.73 percent higher at Rs 398.85 compared to their previous close of Rs 395.95. On BSE, 0.85 million shares of the company were traded, resulting in a turnover of Rs 3.38 crore. The company’s market capitalization rose to Rs 3,368,57 crore.
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Shares of JTL Industries Ltd
In terms of technical analysis, the relative strength index (RSI) of JTL Industries stock is 65, indicating that it is neither overbought nor oversold. The beta for JTL Industries shares is 0.9, indicating a low level of annual volatility. The price of JTL Industries shares is greater than the 5, 10, 20, 50, 100, 150, and 200-day moving averages.
During the June quarter of 2023, the company reported a profit of Rs 25.4 crore, compared to Rs 11 crore during the same period the previous year. In the first quarter of the current fiscal year, operational revenue increased to Rs 505.6 crore from Rs 259.24 crore in the same period of the previous fiscal year. First-quarter operating profit increased to Rs 35.5 crore from Rs 13.9 crore in the June quarter of the previous fiscal year.
Abhijeet from Tips2trades stated, “JTL Industries is bearish on the Daily charts, with significant resistance at 505″ A daily close below 458’s support could result in near-term targets of 429-382.”
Axis Securities anticipates that JTL stock will reach Rs 470 this year.
“Based on the phased volume expansion progress, we anticipate a revenue/EBITDA/pat CAGR of 46%/45%/51% between FY23 and FY25. The brokerage has a BUY rating on the stock and values JTL at 22 times its FY25 EPS to arrive at a 1-year forward price target of Rs 470/share.
About The Company
JTL Industries Limited is a manufacturer of electric resistance welded (ERW) steel pipelines in India, as well as pipe and tube manufacturers. Black and galvanised ERW steel pipes and tubes, hollow sections, and structural steel are manufactured by the company for use in engineering and construction projects. Its merchandise consists of galvanised steel tubing and pipes, scaffolding fittings and systems, hollow sections, LTZ sections, and mild steel angles/channels. It offers solar solutions, logistical services, packaging and transportation services.
