Indian pipe maker JTL Industries hits record high on project plans, fundraise

JTL Industries

19/12/2023 04:14

** Shares of JTL Industries  JTLI.NS  rise as much as 4.7%
to a record high of 252 rupees
    ** Steel tubes and pipes maker said on Tuesday its unit
plans to set up a mega project in Maharashtra state
    ** Co set to raise 13.1 bln rupees ($157.60 mln) for the
project
    ** Adds, on Monday it approved raising of funds up to 8.1
bln rupees via preferential share issue
    ** JTLI on track for fifth consecutive session of gains if
trend holds
    ** More than 3 mln shares change hands, 1x its 30-day avg
    ** Stock up 58% YTD



($1 = 83.1240 Indian rupees)

 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))