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This Jindal group company's stock zoomed 16% in trade; check details

Jindal Worldwide shares zoomed 16 per cent in trade on Monday, logging an intraday high at ₹64.73 per share on BSE. At 12:50 PM, Jindal Worldwide share price was trading 5.56 per cent higher at ₹58.9 per share on the BSE. In comparison, the BSE Sensex was down 0.35 per cent at 83,766.44. Its 52-week high was at ₹94.19 per share and 52-week low was at ₹54.11 per share. 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.