Jai Balaji Industries' Q2 Profit Plummets 24%
Jai Balaji Industries Q2 net profit declines 24% to ₹153 crore, proposes stock split.
BUSINESS: Jai Balaji Industries, a leading Indian steel manufacturer, reported a significant decline in its second-quarter net profit, falling by 24% to ₹153 crore. The company's board has proposed a stock split, dividing each existing ₹10 equity share into five shares of ₹2 each.
The proposed stock split aims to enhance liquidity and make the shares more affordable for investors. The company's board has recommended the stock split, subject to shareholder and regulatory approvals.
Jai Balaji Industries' Q2 performance was impacted by various market and economic factors. The company's management is taking proactive measures to improve operational efficiency and reduce costs.
The stock split proposal is expected to benefit existing shareholders and attract new investors. The company's shares will become more liquid and tradable, potentially leading to increased investor interest.
What's Your Reaction?
