Jindal Worldwide Soars Ahead of Bonus Share Announcement

Jindal Worldwide's board will meet on January 7 to discuss issuing bonus shares. Their stock soared by 10.50% after the announcement. Additionally, the trading window for certain personnel is closed, following insider trading regulations. Their Q2 financial results show a strong increase in both profit and revenue.

Jindal Worldwide, a leading figure in the textile industry, plans to convene its Board of Directors on January 7 to deliberate on issuing bonus shares for its equity shareholders. This move was confirmed in a recent disclosure to the stock exchange.

The Board is also set to review an increase in authorised equity share capital to facilitate this bonus issuance. As a precautionary measure, the company's trading window will remain closed for designated personnel from December 15 until two days post the public announcement of the meeting's outcome. This measure aligns with both the company's Insider Trading Code of Conduct and the Securities and Exchange Board of India's regulations.

Subsequent to Jindal Worldwide's announcement, its shares experienced a significant increase, closing at Rs. 426.80 on the BSE, marking a 10.50% gain. The company reported impressive Q2 financial results, with a 36% rise in net profit and a 45.6% increase in revenue. The textile giant, recognized for its vast denim manufacturing, is also diversifying into electronic vehicles.

(With inputs from agencies.)