&w=3840&q=100)
This Jindal group company's stock zoomed 16% in trade; check details
In one year, Jindal Worldwide shares have lost 19 per cent as compared to Sensex's rise of 6 per cent.
Why are Jindal Worldwide shares rallying today?
The northward movement in the stock came after the board approved sale of 51 per cent of equity share capital invested in its subsidiary company Goodcore Spintex.
"The board of directors at their meeting held today, i.e., on Saturday, June 28, 2025, has, inter alia, considered and approved: sale of 51 per cent of equity share capital invested in wholly-owned material subsidiary company – M/s. Goodcore Spintex Private Limited," the filing read.
According to filing, the name of the buyer is Yamunadutt Amilal Agarwal, who is the promoter of the company.
That apart, in a meeting held on January 7, 2025, the board proposed the issuance of bonus equity shares in a 4:1 ratio, offering four new fully paid-up equity shares of ₹1 each for every existing share held, to eligible equity shareholders as of the record date, funded through the capitalisation of free reserves and/or the securities premium account.
About Jindal Worldwide
Jindal Worldwide, part of the Ahmedabad-based Jindal Group, is a prominent player in the textiles sector. The company specialises in the manufacturing of denim fabric, premium shirtings, yarn dyeing, bottom weights, and home textiles, through its various divisions, including: a) Jindal Denims Inc., b) Jindal Fabric Inc., c) Jindal Spinning Inc., d) Jindal Creations Inc., and e) Made-Ups Division. With an annual production capacity of 120 million meters of denim fabric, JWL has established itself as a dominant name in the industry.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Hindu
12 minutes ago
- The Hindu
Andhra Pradesh govt. unveils Electronics Component Manufacturing Policy 2024–29
The government on Friday notified the Andhra Pradesh Electronics Component Manufacturing Policy (4.0) 2024–29 (ECMP) aimed at boosting manufacturing capacities in the electronics sector and establishing a robust semiconductor and display fabrication ecosystem in the State. According to a G.O. issued by Katamneni Bhaskar, Secretary (IT, Electronics & Communications), the ECMP is aligned with the Government of India's Electronics Component Manufacturing Scheme and focuses on building an electronics component manufacturing ecosystem that contributes significantly to the State's economic development. The policy seeks to integrate State-based companies into the global electronics value chain, thereby enhancing their position within the supply network. The ECMP will remain in force for five years, during which the State government will extend incentives to eligible companies, as detailed in separate operational guidelines to be notified later. The policy emphasises the development of Component Manufacturing Clusters (CMCs) with shared facilities in strategic locations such as Tirupati, Anantapur, Visakhapatnam, Kopparthy, and Nellore. These CMCs will specialise in areas like printed circuit boards, display technologies, optoelectronics, and passive components. The policy also aims to enhance the Speed of Doing Business, reduce operational costs through infrastructure development, and provide ready-built factory shells and plug-and-play facilities. In addition, it targets the attraction of global anchor firms in key component segments by offering customised support packages and incentives for supply chain partners to participate in building the CMCs.
Mint
19 minutes ago
- Mint
Delhivery bets on rapid commerce for growth, logs ₹91 crore net profit in Q1
Logistics major Delhivery is accelerating its push into new-age delivery models, capitalizing on the rise of quick commerce and expanding its partial truckload (PTL) capabilities. In the first quarter (April-June) of FY26, the company made strategic investments of ₹ 14 crore into two emerging services: Rapid Commerce, a 2-hour delivery service, and Delhivery Direct, which is an on-demand intracity shipment service. 'The real opportunity lies in servicing large brands working with quick commerce platforms—whether FMCG, grocery, or packaged food by offering high-precision, appointment-based deliveries to—and returns from—dark stores and mother warehouses. Quick commerce has created a new channel and incremental demand. Though our entry is just 100 days old, it's already become an exciting growth driver within our PTL business,' said Sahil Barua, chief executive of Delhivery, in an April-June earnings call on Friday. Delhivery reported a 68.5% surge in net profit in April-June to ₹ 91 crore. The company's operating revenue increased by 6% year-on-year to ₹ 2,294 crore. Shares of Delhivery settled 1% lower at ₹ 429.85 apiece on the BSE on Friday. A partial truckload business is a logistics service model that sits between LTL (less-than-truckload) and FTL (full truckload). It caters to medium-sized shipments that don't require an entire truck but are too large or bulky for standard parcel delivery. He added that quick commerce, however, remains largely concentrated in grocery, packaged foods, and BPC (beauty and personal care) segments, and is primarily active in major urban centres. While it has likely had a notable effect on grocery GMV (gross merchandise value) and order volumes for large marketplaces, its influence on broader e-commerce is expected to be limited. This is due to the inherent challenge of balancing wide product assortments with rapid delivery timelines, especially across increasingly dispersed urban geographies. More significantly, the bulk of e-commerce volumes comes from small cities (tier 2–4) and is fuelled by low-velocity, long-tail categories like apparel, accessories, and home and lifestyle products. These categories have unpredictable demand patterns and are not easily or economically suited to stocking in small quantities across dark stores. As a result, the company expects minimal impact from quick commerce on their overall volume trajectory moving forward. Low-velocity, long-tail refers to slower-selling, niche products like apparel that have unpredictable demand but collectively drive a large share of e-commerce volumes, especially in small cities. Delhivery's Rapid network currently operates 20 dark stores across three cities, offering shared inventory infrastructure and 1–3 hour fulfillment for direct-to-consumer brands. Plans are in place to scale this to 35–40 dark stores across six cities by Q4 FY26. While expected to remain a niche offering within Delhivery's broader Express portfolio, Rapid could generate ₹ 80–100 crore in revenue over time, the company said in a shareholder's letter. 'The network will serve as a foundation for Rapid B2B fulfillment, targeting time-critical segments such as auto parts, electronics spares, tyres, specialty chemicals, lubricants, and select FMCG products,' Barua said during the earnings call. Delhivery Direct, the company's consumer-facing app for on-demand inter-city shipping, has now expanded to include intra-city delivery as well. As these offerings are still in early stages, further investment—particularly in fleet capacity and demand generation for Delhivery Direct—is expected through FY26, said Barua. In January-March of FY25, Delhivery turned profitable for the first time, posting a net profit of ₹ 72.6 crore as revenue rose 6% year-on-year. Delhivery acquired rival logistics firm Ecom Express in an all-cash deal worth ₹ 1,407 crore in April. 'Obvious immediate impact of the Ecom acquisition will be clear in the Q2 numbers', said Barua.
Time of India
41 minutes ago
- Time of India
Intel's manufacturing unit gets more ‘bad news' after company CEO Lip-Bu Tan's major restructuring announcement
Representative Image Intel's manufacturing unit faces more "bad news" as three senior executives in its operations are set to retire. This declaration from the company follows CEO Lip-Bu Tan 's announcement of major restructuring plans in its manufacturing unit. The latest announcement marks further change as Tan works to revitalise the struggling US-based chipmaker. According to a report by the news agency Reuters, Intel has confirmed that Kaizad Mistry and Ryan Russell, both corporate vice presidents in the technology development group, will retire. Additionally, Gary Patton, a corporate vice president at its Design Technology Platform organisation and a former IBM executive, is also retiring. The latest departures underscore the significant shifts occurring within Intel's manufacturing operations. Other changes may be coming for Intel's manufacturing process Intel has also discussed internal changes to its technology development group, which oversees the creation of manufacturing processes. The Reuters report also cited two individuals familiar with the matter to claim. The company is also reportedly planning to scale down its manufacturing capacity planning team and reduce part of its engineering workforce, the sources told Reuters. Manufacturing operations are currently led by Naga Chandrasekaran , a former Micron Technology executive, who joined Intel about a year ago under previous CEO Pat Gelsinger. In March, Chandrasekaran's role expanded to include both technology development and manufacturing. Since then, he has reorganised the teams under him, which provides for layoffs as part of broader global workforce reductions. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Unsold 2021 Cars Now Almost Free - Prices May Surprise You Unsold Cars | Search Ads Learn More Undo What changes Intel CEO Lip-Bu Tan has already announced Last week, during its quarterly earnings announcement, Intel's new CEO announced several significant changes for the company. Tan, who stepped into the role in March, outlined a plan to reduce the company's workforce to 75,000 by year-end, a cut of roughly 22%. The chipmaker also said it would adopt a more cautious approach to manufacturing investments. Intel added that the continuation of its next-generation 14A manufacturing process depends on landing a significant customer. Without one, the company may halt or abandon development. In a memo, Tan noted: 'We're developing Intel 14A ... from the ground up in close partnership with large external customers. Going forward, our investment in Intel 14A will be based on confirmed customer commitments.' Tan also informed investors that Intel's 18A process would likely deliver a reasonable return only if applied to the company's products. According to a previous report from Reuters, he has also considered discontinuing the offering of 18A technology to external clients to concentrate resources on the 14A process. Intel is reportedly planning to begin high-volume production of its Panther Lake PC chips later this year using the 18A process. 5 Tips to Get the Best Deals during sale on Amazon, Flipkart and other online websites
