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Jai Corp gains on receiving approval to sell Indore unit

05 Nov 2014

Jai Corp is currently trading at Rs. 96.50, up by 1.65 points or 1.74% from its previous closing of Rs. 94.85 on the BSE.

The scrip opened at Rs. 97.50 and has touched a high and low of Rs. 99.85 and Rs. 96.10 respectively. So far 4,45,000 shares were traded on the counter.

The BSE group 'B ' stock of face value Rs. 1 has touched a 52 week high of Rs. 116.80 on 09-Jul-2014 and a 52 week low of Rs. 48.90 on 08-Nov-2013.

Last one week high and low of the scrip stood at Rs. 99.85 and Rs. 91.55 respectively. The current market cap of the company is Rs. 1,722.00 crore.

The promoters holding in the company stood at 73.01% while Institutions and Non-Institutions held 9.19% and 17.80% respectively.

Jai Corp has received an approval for disposal of the company’s Indore unit located at Pithampur on an as-is-where-is basis. The board of directors at their meeting has approved for the same and the search for a suitable buyer will now commence. No material impact is expected on the production and/ or financial results of the company on account of the sale of the unit.

Jai Corp traditionally is engaged into manufacturing businesses like steel, plastic processing and spinning yarn. It was incorporated in 1985. Later the company expanded in developing SEZs, infrastructure, venture capital and real estate.

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323