Stock market today: Promoter Pranav Singla raises stake in JTL Industries. Share price jumps 6%

livemint.com:

Stock market today: Despite weakness in the Indian stock market today, JTL Industries share price has been in uptrend since early morning deals. JTL Industreis share price today opened upside at ₹190 apiece on NSE and went on to touch an intraday high of ₹195.95 per share level, logging an intraday rise of nearly 6 percent during Tuesday deals. However, the stock failed to sustain at higher levels after the profit-booking trigger.

JTL Industries share price is currently around ₹193.50 per share level. The beaten-down stock that has shed around 20 percent in YTD time came under the radar of Dalal Street bulls after the company's disclosure about its promoter Pranav Singhla. The company informed Indian stock market exchanges that one of its promoters Pranav Singha has raised his stake in the company from existing 1.07 percent to 1.24 percent by acquiring 3 lakh fresh shares of the company.

Singla acquired these 3 lakh JTL Industries shares from the open market on 18th March 2024 i.e. on Monday. As per the stock market exchange filing shared by JTL Industries Pranav Singhla acquired 3 lakh company shares representing 0.17% of the Paid-up Equity Share Capital of JTL Industries Limited on 18th March 2024 from the Open market.

The company went on to add that before acquiring 3 lakh company shares, Pranav Singla was holding 18,94,034 JTL Industries shares, which was 1.07 percent of the total paid-up capital of the company. After the acquisition of these 3 lakh shares, Pranav Singla's shareholding in the company went up to 21,94,034 shares, which is 1.24 percent of the total paid-up capital of the company. This means the newly acquired 3 lakh JTL Industr5ies shares represent 0.17 percent of the total paid-up capital of the