JTL Industries Ltd shares surged over 3% in early trade after the company announced that it has received approval from the National Company Law Tribunal (NCLT) for its resolution plan to acquire RCI Industries & Technologies Limited. As of 9:23 AM, the shares were trading 3.59% higher at Rs 70.37.
Earlier, JTL had signed a Memorandum of Understanding (MoU) with RCI during Q4FY25 to produce up to 200MT per month of copper and brass alloys through job work. With NCLT’s approval, the RCI plant now comes under the complete ownership of JTL Industries.
The company stated that this strategic and value-accretive acquisition will strengthen its growth outlook and is expected to make a significant contribution to the topline by FY27. Moreover, the move opens new business opportunities in high-margin segments, including defense components, bullet shell manufacturing, and coin-related components for the Mint Factory.
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