Introduction:
Leading textile stock on December 16, 2024 convened a Board of Directors meeting via video conferencing to address key corporate actions and strategic appointments. The session focused on equity distribution and structural adjustments.
Share Price movement of TT Ltd :
On December 16, 2024, TT Ltd (NSE: TTL) opened at ₹164.95, up 1.45% from its previous close of ₹163.64. The stock reached a high of ₹167.75 and a low of ₹163.25. Currently, it is trading at ₹166.00, a 5% increase, with a market cap of ₹356.87 crore.
TT Ltd share price rise:
On December 16, 2024, TT Limited’s Board of Directors met via video conferencing and approved the allotment of 1,000,000 equity shares at Rs. 122 each to Venus Partners and Vinitha Manish Jain. Additionally, 800,000 convertible warrants were allotted to Subhash Phootarmal Rathod and VASM Consultants Pvt. Ltd.
The board also approved the sub-division of each existing equity share from Rs. 10 face value into ten shares of Rs. 1 each, pending shareholder approval. Furthermore, they approved altering the Capital Clause of the Memorandum of Association to reflect this split, with specifics provided in Annexure-B.
Further resolutions included appointing Shri Hardik Jain as Executive Director, relocating the registered office within New Delhi effective December 16, 2024, and scheduling an Extraordinary General Meeting for January 24, 2025. The meeting started at 11:00 AM and concluded within an hour.
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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:
Over the past week, TT Ltd stock declined by 10.2%. However, over the last six months, it exhibited a robust increase of 52.8%. Impressively, the one-year return stands at 59.8%, highlighting significant long-term growth despite short-term fluctuations.
Shareholding pattern of TT Ltd :
| All values in % | Sep-24 | Jun-24 | Mar-24 |
| Promoters | 58.7 | 58.67 | 58.69 |
| FII | 0.08 | 0 | 0.04 |
| Retail & others | 41.21 | 41.33 | 41.27 |
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.
