Jindal Group Stock: 4:1 Bonus Shares, To Be Dispatched By 6th March 2025; Must-Have Stock For 2025

The textile manufacturer Jindal Worldwide Limited (JWL) produces a variety of fabrics, including denim and home textiles. Dr. Yamunadutt Agrawal established JWL in 1986, and it is a member of the Jindal Group, which is headquartered in Ahmedabad. Europe, Africa, Middle East Asia, and North and South America are among JWL's clientele. One of the largest exporters of denim, home textiles, technical fabric, speciality fabric and intermediates from India is JWL. Following the announcement of 4:1 bonus shares, Jindal Worldwide's stock closed Thursday's trading session 1.32% lower at Rs 437.60, with a market capitalisation of Rs 8.74KCr.

Jindal Worldwide Bonus Shares

The Board of Directors at their meeting held on Tuesday, 7th January, 2025 considered and approved "issue of bonus equity shares in the proportion of 4:1 i.e. 4 (Four) new fully paid-up equity shares of Rs 1/- (Rupees One) each for every 1 (One) existing fully paid-up equity share of Rs 1/- (Rupees One) each held, to the eligible equity shareholders of the Company as on the record date, by capitalization of free reserves and / or securities premium account," said Jindal Worldwide in a stock exchange filing.

The pre-bonus issue paid-up share capital of the company is 20,05,20,400 fully paid-up equity shares of Rs. 1/- each aggregating to Rs. 20,05,20,400/- whereas post-bonus issue paid-up share capital of the company is 100,26,02,000 fully paid-up equity shares of Rs. 1/- each aggregating to Rs. 100,26,02,000/-.

The estimated date by which such bonus shares would be credited / dispatched is by 6th March, 2025 as per Jindal Worldwide.

Jindal Worldwide Financials

The company's net sales for the September 2024 quarter were Rs 567.59 crore, rising 41.83% from the September 2022 quarter's Rs 400.20 crore. In Q2FY25, its net profit was Rs. 17.47 crore, increasing 43.41% from Q2FY24's Rs. 12.18 crore. EBITDA improved 44.52% from Rs. 27.85 crore in September 2023 to Rs. 40.25 crore in September 2024.

Jindal Worldwide Share Price Target

Hardik Matalia - Derivative Analyst at Choice Broking said, "The chart of Jindal showcases a solid upward momentum post a prolonged consolidation phase. The stock has recently broken out of its downward trend, confirming a reversal as it moves above key exponential moving averages. The 20-day EMA at 409 is currently acting as strong support, indicating bullish sentiment. From the chart, the stock has been trading along a rising trend line, suggesting a consistent demand. The recent volumes also reflect increased participation, especially during the breakout phase, confirming the validity of the upward move."

"The price was consolidating near the Rs 385- Rs 425 range. Today the stock experienced a profit-booking session after hitting an intraday high of 471.20, which marked a fresh breakout above the consolidation range, the overall structure remains bullish as long as it sustains above Rs 409. The next resistance level lies near Rs 460- Rs 470, which, if breached, could take the stock towards Rs 490 or higher in the medium term. Investors can consider accumulating the stock on dips, given the strong technical setup. However, keeping a stop loss below the Rs 400 mark is advisable to protect against sudden reversals. The rising EMAs and higher lows formation make this an attractive bet for swing traders and medium-term investors alike. Overall, JINDWORLD appears to be in the early stages of a potential rally, and further upside could be expected if the stock continues to maintain its bullish structure," commented Hardik Matalia.

"Jindal Worldwide stock price is bearish on the Daily charts with strong resistance at 471.2. A Daily close below support of 450 could lead to a target of 395 in the near term," as per A R Ramachandran, Independent Research Analyst.

Disclaimer

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