Jai Corp drops after reporting weak Q1 results

Jai Corp dropped 2.32% to Rs 75.70 at 12:00 IST on BSE after net profit fell 41.7% to Rs 6.01 crore on 13.4% rise in net total income from operations to Rs 192.62 crore in Q1 June 2016 over Q1 June 2015.

The result was announced after market hours yesterday, 23 August 2016.

Meanwhile, the S&P BSE Sensex was up 30.09 points or 0.11% at 28,020.30.

On BSE, 2.52 lakh shares were traded in the counter as against average daily volume of 3.28 lakh shares in the past one quarter. The stock hit a high of Rs 77.30 and a low of Rs 73.40 so far during the day. The stock had hit a 52-week high of Rs 94.40 on 5 January 2016. The stock had hit a 52-week low of Rs 44.75 on 25 August 2015. The stock had underperformed the market over the past one month till 23 August 2016, dropping 2.33% compared with 0.67% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 13.89% as against Sensex's 10.94% rise.

The mid-cap company has equity capital of Rs 17.84 crore. Face value per share is Re 1.

Jai Corp was incorporated in 1985. It has traditionally been into manufacturing businesses like steel, plastic processing and spinning yarn. Apart from expansion of its plastic processing business, it is now focusing and investing in emerging opportunities like developing SEZs, infrastructure, venture capital and real estate.

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