Jai Corp shines on promoter hiking its stake to 7.99%

22 Nov 2013

Jai Corp is currently trading at Rs. 63.70, up by 1.05 points or 1.52% from its previous closing of Rs. 62.65 on the BSE.

The scrip opened at Rs. 63.30 and has touched a high and low of Rs. 64.55 and Rs. 63.25 respectively. So far 2, 97,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 87.20 on 09-Jan-2013 and a 52 week low of Rs. 35.55 on 05-Aug-2013.

Last one week high and low of the scrip stood at Rs. 67.10 and Rs. 56.50 respectively. The current market cap of the company is Rs. 1,133 crore.

The promoters holding in the company stood at 73.01% while Institutions and Non-Institutions held 7.61% and 19.38% respectively.

Jai Corp’s one of promoters, Laxmi Jain, has raised stake in the company by 3.5% for Rs 36.64 crore. Laxmi Jain had 80,03,540 shares constituting 4.49% stake in the company. Following the said transaction, Jain now holds 142,53,540 shares constituting 7.99% stake in the firm.

The said transaction was held on November 20 through ‘inter se transfer between relatives’ and executed by SSM Securities. The promoters overall held 73.01% stake in the company as of September-end.

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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