JTL Industries share price gained over 2% on Friday after the company announced the commencement of operations at RCI’s plant. JTL Industries shares rallied as much as 2.09% to ₹92.59 apiece on the BSE.
JTL Industries announced that the company has been granted permission by the National Company Law Tribunal (NCLT) to commence operations at the RCI Industries & Technologies Limited (RCI) plant. JTL entered into an MOU with RCI for production of up to 200 MT per month of copper and brass alloys via job-work.
RCI Industries & Technologies’ manufacturing plant in Baddi, Himachal Pradesh spans 27,000 sq. meters, boasting an installed capacity of 15,000 MTPA for copper and brass strips. Of this, up to 6,000 MTPA can be dedicated to the production of value-added products as per demand.
“This highly value-accretive strategic acquisition was entered into considering JTL’s goals to expand across new sectors, particularly defense supplies. As India is focused on self-reliance and indigenous manufacturing through initiatives like ‘Make in India,’ JTL recognized the acquisition as an opportunity to supply bullet casings and other non-ferrous metal products critical to the defense sector,” JTL Industries said in a stock exchange filing.
Once the transaction closure is approved by the NCLT, this plant will be under complete ownership of JTL and is expected to significantly contribute to the topline by FY27, it added.
“This milestone will help us in not only entering new segments now but also in gaining new customers and relationships. This high-value acquisition gives us an opportunity to enhance our footprint in the copper products market, leveraging RCI’s manufacturing expertise. We look forward to new avenues of growth and the strong uptick that this will provide us with in future,” JTL Industries’ management said.
JTL Industries Stock Price Trend
JTL Industries share price has declined by 14% over the past month, while the year-to-date (YTD) decline stands at 3%. Over the last six months, JTL Industries stock has fallen by 18%, and on a one-year basis, it has registered a 28% decline.
JTL Industries Shareholding
As of December 31, 2024, promoters held a 48.91% stake in JTL Industries, while public shareholders accounted for 51.09%. Among public investors, Foreign Portfolio Investors (FPIs) held a 5% stake, according to the latest shareholding pattern.
At 10:35 AM, JTL Industries shares were trading 1.65% higher at ₹92.19 apiece on the BSE.
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