Jindal Worldwide Eyes Expansion with Bonus Shares Proposal

Jindal Worldwide announced a board meeting on January 7 to discuss issuing bonus shares and increasing equity capital. The trading window is closed for select personnel in line with insider trading regulations. The company reported impressive profit growth and stock price surge post-announcement.

Jindal Worldwide, a prominent player in the textile industry, has scheduled a Board of Directors meeting for January 7 to deliberate on the issuance of bonus shares. The company disclosed this development in recent stock exchange filings.

The board will evaluate a proposal to issue bonus equity shares to existing shareholders. Additionally, an increase in authorized equity share capital to facilitate the bonus shares will be considered on the same day.

In compliance with Jindal Worldwide's Code of Conduct for the Prevention of Insider Trading and the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015, the trading window remains shut for designated personnel from December 15, until 48 hours post-public announcement of the board meeting's outcome.

This announcement comes on the heels of a solid performance in the second quarter of the 2024-25 fiscal year. Jindal Worldwide's consolidated net profit rose by 36% to Rs. 17.33 crore, while revenue surged 45.6% to Rs. 570.80 crore. The company's shares witnessed a spike of 10.50% in the stock market, closing at Rs. 426.80, taking its market cap to Rs. 8,558.2 crore.

Boasting a diversified portfolio as one of the leading textile fabrics and shirting manufacturers and a major denim fabric producer globally, Jindal Worldwide is also exploring new growth opportunities by venturing into the two-wheeler electric vehicle sector.

(With inputs from agencies.)