Textile Stock Below Rs 150: 1:10 Stock Split, 12th February Record Date; Worth Buying?

In India, TT Ltd (TTL) is a textile firm that produces and markets clothing, yarn, and fabric. TTL distributes its products in more than 65 countries and has been manufacturing in India for more than 60 years. The firm was founded in 1978 with the primary goal of producing and selling a variety of textile goods, such as knitwear, furnishings, and cotton yarn. Following the company's announcement of a record date 1:10 stock split, TT Ltd's shares closed Monday 2.55% down at Rs 138.50 per share with a market capitalisation of Rs 311.60Cr.

TT Ltd Stock Split

"Pursuant to Regulation 42 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 and relevant provision of Companies Act, 2013 and Rules made thereunder, the Company has fixed Wednesday 12th February, 2025 as the 'Record Date' for the purpose of determining the eligibility of shareholders for the purpose of sub- division/split of face value of Equity Shares of the Company from Rs. 10/- each fully paid up to Re. 1/- each fully paid up," said the company in a stock exchange filing today.

TT Financials

In the September 2024 quarter, the company's net sales were Rs 54.31 crore, rising 12.81% from the September 2023 quarter's net sales of Rs 48.14 crore. In Q2FY25, its net profit was Rs. 0.49 crore, growing 432.79% from Q2FY24's Rs. 0.09 crore. EBITDA dropped 37.02% from Rs. 4.97 crore in the September 2023 quarter to Rs. 3.13 crore in the September 2024 quarter. TT Ltd has not yet released its financial figures for Q3FY25 or the quarter that ended in December 2024.

TT Share Price Target

"TT Ltd stock price is bearish on the Daily charts with strong resistance at 145. A Daily close below support of 133 could lead to a target of 120 in the near term," commented A R Ramachandran, Independent Research Analyst.

Disclaimer

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