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Jai Corp trades jubilantly on the buzz of Mukesh Ambani eyeing stake in NMSEZ

11 Jan 2018

Jai Corp is currently trading at Rs. 217.70, up by 14.70 points or 7.24% from its previous closing of Rs. 203.00 on the BSE.

The scrip opened at Rs. 223.30 and has touched a high and low of Rs. 223.30 and Rs. 215.00 respectively. So far 1767519 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 223.30 on 11-Jan-2018 and a 52 week low of Rs. 68.05 on 11-Aug-2017.

Last one week high and low of the scrip stood at Rs. 223.30 and Rs. 201.00 respectively. The current market cap of the company is Rs. 3891.98 crore.

The promoters holding in the company stood at 73.01%, while institutions and non-institutions held 6.85% and 20.14% respectively.

Reliance Industries Chairman Mukesh Ambani, through his personal investment firms, is reportedly in talks to buy out Jai Corp’s 24% stake in Navi Mumbai Special Economic Zone (NMSEZ). Post deal, Ambani will be the largest shareholder of the NMSEZ with a 48.1% stake.

Last week, the NMSEZ project received the go-ahead from the Maharashtra government-owned City and Industrial Development Corporation (CIDCO) for its conversion into an industrial city, the report added.

Jai Corp traditionally is engaged into manufacturing businesses like steel, plastic processing and spinning yarn. It was incorporated in 1985.

Related Jai Corp Ltd. Links:

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323