After gaining 60% from 52-week-low this small-cap sets record date for stock split

A small-cap company with a market cap of 111.85 Cr, Jost's Engineering Company operates in the capital goods industry.

Vipul Das
First Published28 Mar 2023, 06:01 PM IST
Founded in the year 1907, Jost's Engineering Company Limited is specialized in the production of material handling equipment (MHD) and is the manufacturer of engineering products (EPD) solutions.
Founded in the year 1907, Jost’s Engineering Company Limited is specialized in the production of material handling equipment (MHD) and is the manufacturer of engineering products (EPD) solutions.

A small-cap company with a market cap of 111.85 Cr, Jost's Engineering Company operates in the capital goods industry. Founded in the year 1907, Jost's Engineering Company Limited is specialized in the production of material handling equipment (MHD) and is the manufacturer of engineering products (EPD) solutions.

“Pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Company has fixed 28th April, 2023 as the “Record date” for determining eligibility of members for the purpose of sub-division of the equity shares of the Company from Face Value of Rs. 5/- each fully paid-up to Face Value of Rs. 2/- each fully paid-up. Upon sub-division of face of value of each share from Rs. 5/- to Rs. 2/-, all fractions resulting from the sub-division of equity shares shall be consolidated into whole equity shares and the same will be disposed of at the market price and the net proceeds (less expenses, if any) will be distributed proportionately, as far as practicable, to the members concerned,” said the Board of Jost's Engineering Company in a stock exchange filing.

Jost's Engineering Company also said today in a stock exchange filing that “The investment by way of purchase of 39,73,800 Equity Shares of MHE Rentals India Private Limited (“MHE Rentals”), a Subsidiary Company, from the existing shareholders, in more than one tranche, at a price of Rs. 17.30 per equity share, arrived by the Registered Valuer in their Valuation Report, consequent to the completion of which MHE Rentals will become Wholly Owned Subsidiary of the Company. The investment in the share capital of M/s. JECL Engineering Limited ("JECL"), a Wholly Owned Subsidiary of the Company and/or grant loans and advances to JECL and/or to give Guarantees on behalf of JECL, in one or more than one tranche with a maximum cap of Rs. 15.00 Crores. The proposed investment is towards setting up a project at Murbad, Maharashtra by M/s JECL Engineering Limited and also for operation of the said Project.”

The shares of Jost’s Engineering closed today on the BSE at 599.50 apiece level, up by 0.50% from the previous close of 596.50. In the last 1 year the stock has gained 30.54% and on a YTD basis it has rallied 27.72% so far in 2023. The stock touched a 52-week-high of 664.85 on (06/03/2023) and a 52-week-low of 375.00 on (16/05/2022), indicating that at the current market price, the stock is trading 59.86% above the 1 year low and 9.82% below the 1 year high. During Q3FY23, the company recorded a promoter shareholding of 49.48% and a public stake of 50.52%.

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News in Numbers

Numbers that help you understand news better
$5 M

394,000

$112 B

12.1%

₹133.50 Cr

₹12,300 Cr

$136 M

First Published:28 Mar 2023, 06:01 PM IST
HomeMarketsStock MarketsAfter gaining 60% from 52-week-low this small-cap sets record date for stock split

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