Date: 10.08.2007
Jai Corp was locked at the 5% upper circuit of Rs 5580.45 at 10:54 IST after its board approved a 1:1 bonus issue. The announcement was made after market hours on Thursday, 9 August 2007. The BSE Sensex, meanwhile, was down 354 points or 2.39% to 14738tracking fresh setback in global markets. Asian stocks tumbled acrossthe board on Friday as credit jitters flared up, after France's biggestlisted bank BNP Paribas on Thursday, 9 August 2007, froze three fundsthat invested in US subprime mortgages On BSE, 22,993 shares were traded on the counter today. The scrip hadan average daily volume of 12,817 shares in the past one quarter. The shares of the mid-cap diversified company hit a high of Rs 5580.45,its all-time high for the scrip, and a low of Rs 5300 so far during theday. It had touched a 52-week low of Rs 275 on 21 August 2006.Jai Corp had risen 72.12 % over the last one month to 9 August2007 compared to the Sensex's gain of 1.27%. It had outperformed themarket over the past quarter, rising 182.75% compared to the Sensex'sgain of 9.45%. The scrip had climbed 71.02% from a recent low of Rs 3107.60 on 25 July2007 to Rs 5314.75 on 9 August 2007 backed by the company's decision tosplit the shares and to consider bonus issue.The company's current equity is Rs 8.63 crore, with 86.3 lakh outstanding shares of a face value of Rs 10. The current price of Rs 5580.45 discounts its Q1 June 2007 annualised EPS of Rs 157.78 by a PE multiple of 35.36. On 31 July 2007, the board of directors had approved thesub-division of the equity shares from existing face value Rs 10 pershare to a face value of Re 1 per share. It also approved increasingthe limit for investment by foreign institutional investor (FIIs) to49% of the paid-up equity capital. Jai Corp reported net profit of Rs 34.04 crore in Q1 June 2007 asagainst net loss of Rs 6.13 crore in Q1 June 2006. Sales declines37.76% to Rs 51.20 crore in Q1 June 2007 over Q1 June 2006. The company operates in three business segments: steel, plasticprocessing and spinning. The steel division manufactures coils andsheets. The plastic processing division manufactures woven sacks andfabrics. The spinning division is involved in the manufacturing ofspinning yarn.
Jai Corp was locked at the 5% upper circuit of Rs 5580.45 at 10:54 IST after its board approved a 1:1 bonus issue. The announcement was made after market hours on Thursday, 9 August 2007. The BSE Sensex, meanwhile, was down 354 points or 2.39% to 14738tracking fresh setback in global markets. Asian stocks tumbled acrossthe board on Friday as credit jitters flared up, after France's biggestlisted bank BNP Paribas on Thursday, 9 August 2007, froze three fundsthat invested in US subprime mortgages On BSE, 22,993 shares were traded on the counter today. The scrip hadan average daily volume of 12,817 shares in the past one quarter. The shares of the mid-cap diversified company hit a high of Rs 5580.45,its all-time high for the scrip, and a low of Rs 5300 so far during theday. It had touched a 52-week low of Rs 275 on 21 August 2006.Jai Corp had risen 72.12 % over the last one month to 9 August2007 compared to the Sensex's gain of 1.27%. It had outperformed themarket over the past quarter, rising 182.75% compared to the Sensex'sgain of 9.45%. The scrip had climbed 71.02% from a recent low of Rs 3107.60 on 25 July2007 to Rs 5314.75 on 9 August 2007 backed by the company's decision tosplit the shares and to consider bonus issue.The company's current equity is Rs 8.63 crore, with 86.3 lakh outstanding shares of a face value of Rs 10. The current price of Rs 5580.45 discounts its Q1 June 2007 annualised EPS of Rs 157.78 by a PE multiple of 35.36. On 31 July 2007, the board of directors had approved thesub-division of the equity shares from existing face value Rs 10 pershare to a face value of Re 1 per share. It also approved increasingthe limit for investment by foreign institutional investor (FIIs) to49% of the paid-up equity capital. Jai Corp reported net profit of Rs 34.04 crore in Q1 June 2007 asagainst net loss of Rs 6.13 crore in Q1 June 2006. Sales declines37.76% to Rs 51.20 crore in Q1 June 2007 over Q1 June 2006. The company operates in three business segments: steel, plasticprocessing and spinning. The steel division manufactures coils andsheets. The plastic processing division manufactures woven sacks andfabrics. The spinning division is involved in the manufacturing ofspinning yarn.