Over 386% return in 3 years: Smallcap metal stock gains for second consecutive day - Details

Shares of JTL Industries, which is into steel tube manufacturing, gained more than 3 per cent on Wednesday i.e. March 20. The counter opened upside at Rs 193.15 on the BSE and went on to hit an intraday high of Rs 198 apiece. This is a surge of 3.07 per cent from the previous close of Rs 192.10. 

The smallcap metal stock gained for the second consecutive day today as benchmark equity indices rebounded in early trade on Wednesday after a sharp decline in the previous trade amid a rally in global markets and fresh foreign fund inflows.

The counter was trading at Rs 197 at around 1 pm. The stock of JTL Industries, which has a market cap of Rs 3,357, has a 52-week high of Rs 276.60 and a 52-week low of Rs 142.75.

The surge in price comes as the company informed through an exchange filing about the acquisition of 3,00,000 equity shares, representing 0.17 per cent, of the paid-up equity share capital.

JTL Industries Share Price History

JTL Industries has given a multibagger return of 380 per cent in the last three years. The shares of the company, a constituent of S&P BSE SmallCap,  have climbed 76 per cent in two years.

Meanwhile, the 30-share BSE Sensex rebounded 237.36 points to 72,249.41 in early trade. The NSE Nifty climbed 74.25 points to 21,891.70.

From the Sensex basket, Maruti, Power Grid, Nestle, IndusInd Bank, Tata Consultancy Services, and Wipro were the major gainers. JSW Steel, Tata Steel, Hindustan Unilever, and Tata Motors were among the laggards.

The 30-share BSE benchmark tanked 736.37 points or 1.01 per cent to settle at 72,012.05 on Tuesday. The NSE Nifty slumped 238.25 points or 1.08 per cent to finish at 21,817.45.