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Textile stock hits 5% lower circuit after company to consider stock split

Textile stock schedules a board meeting to discuss share allotments, convertible warrants, and a stock split, with a trading window closure from December 12-18, 2024.
Textile stock plans a board meeting on December 16, 2024, to discuss equity share allotments.
Textile stock plans a board meeting on December 16, 2024, to discuss equity share allotments.

Introduction:

Textile stock plans a board meeting on December 16, 2024, to discuss equity share allotments, convertible warrants to non-promoters, and a proposed stock split, with a trading window closure from December 12-18, 2024.

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Share Price movement of TT Ltd:

On December 12, 2024, TT Ltd (NSE: TTL) stock experienced notable volatility, opening at ₹176.20 and reaching a high of ₹176.34 before declining to a low of ₹165.28. The stock’s price settled at ₹165.38, marking a decrease of 4.94% from the previous close of ₹173.98, with market cap of 353.53.

TT Ltd share price rise:

TT Limited has scheduled a Board meeting on December 16, 2024, via video conference to discuss significant matters including the allotment of 10,00,000 equity shares and 8,00,000 convertible warrants to non-promoters.

The Board will also consider a proposal for the sub-division/split of the company’s equity shares, which currently have a face value of Rs. 10 each. This move aims to modify the capital structure of the company.

In compliance with SEBI regulations, TT Limited’s trading window will be closed from December 12 to December 18, 2024, to prevent insider trading during the decision-making period. The company has asked stakeholders to take note of these developments.

Also Read: Infra stock jumps after it receives water supply project worth ₹503 Cr 

Recent news About TT Ltd:

TT Ltd has announced a partnership with leading fashion retailers to expand their distribution network, aiming to increase market penetration and consumer access. The collaboration, set to begin in early 2025, is expected to significantly boost sales and brand visibility.

Ace investor holding of TT Ltd:

Gandhi Tejas Harilal holds 8,40,000 shares of TT Ltd., accounting for 3.91% of the company with a holding value of ₹14.5 Crore. There has been no change in his shareholding in the last quarter.

Mena Harilal Sattarshakwala holds 4,53,200 shares, representing 2.11% of TT Ltd., valued at ₹7.8 Crore. This reflects a slight increase of 0.05% from the previous quarter.

Stock performance of TT Ltd  for Period of 1 week, 6 months and 1 year:

TT Ltd has exhibited impressive stock performance, showing a 9.64% increase over the past week. Over the last six months, the company’s stock has risen by 58.1%, and over the past year, it has surged by 71.2%, indicating strong investor confidence and robust market presence.

Also Read: Smallcap stock jumps 6% after it receives order worth ₹1486 Mil from Vedanta

Shareholding pattern of TT Ltd:

All values in %Sep-24Jun-24Mar-24
Promoters58.758.6758.69
FII0.0800.04
Retail & others41.2141.3341.27
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About TT Ltd:

TT Ltd is a prominent player in the textile industry, specializing in manufacturing and marketing of high-quality garments. Established with a focus on innovation and quality, TT Ltd. offers a diverse range of products, catering to both domestic and international markets.


Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.

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