Jyoti Structures hits 5% upper circuit as board to mull fundraise on Nov 22

Jyoti Structures shares hit a 5 per cent upper circuit on Tuesday (November 19) on BSE in morning deals. The stock climbed after the company announced to consider fundraising in a meeting on Friday, November 22, 2024.

 

Around 12:23 PM, Jyoti Structures' share price was up 3.45 per cent at Rs 32.09 per share on BSE. In comparison, the BSE Sensex was up 1.33 per cent at 78,366.15. The market capitalisation of the company stood at Rs 2,815.48 crore. The 52-week high of the stock was at Rs 41.36 per share on BSE and the 52-week low of the company stood at Rs 14.68 per share.

 

 

"This is to inform you that a meeting of the Board of Directors of the company is scheduled to be held on Friday, November 22, 2024, through Video conferencing at 4 PM, to consider, inter alia, the fund raising by way of equity shares or other securities through rights issue as may be permitted under applicable law(s), subject to such regulatory/statutory approvals as may be required and other related matters," the filing red. 

 

The amount of fund raise and other details will be revealed after the board meeting. 

 

In Q2FY25, Jyoti Structures reported a 36.9 per cent decline in consolidated net profit to Rs 7.06 crore as compared to Rs 11.19 crore a year ago.

 

The company's revenue for the quarter under review stood at Rs 10.74 crore, down 86.8 per cent from Rs 81.46 crore a year ago. 

 

Jyoti Structures Limited, founded in 1974, is a prominent Indian company specializing in the design, manufacturing, and installation of transmission line towers, substation structures, and infrastructure for the power transmission and distribution (T&D) sector. 

 

Headquartered in Vadodara, Gujarat, the company operates globally, executing projects in countries across the Middle East, Africa, and Southeast Asia. JSL offers a range of products and services, including high-voltage transmission towers, engineering solutions for power and telecom infrastructure, and EPC (engineering, procurement, and construction) services for transmission line projects. 

 

The company has been involved in major projects for public and private sector utilities, including Power Grid Corporation of India and NTPC Limited. Known for its state-of-the-art manufacturing facilities and commitment to quality, Jyoti Structures holds various international certifications, including ISO 9001. 

 

In the past one year, Jyoti Structures shares have gained 115.4 per cent against Sensex's rise of 17.5 per cent.