Jai Corp has rallied 15% to Rs 81.85 on back of heavy volumes after the Maharashtra cabinet cleared the new industrial policy, which allows special economic zone (SEZ) developers to utilize 40% of the land in their possession as an integrated industrial township project.
The stock opened at Rs 72.25 and has seen a combined 16.08 million shares changing hands against an average sub 2 million shares that were traded daily in past two weeks.
“The SEZ developers can develop the land in their possession as an integrated industrial township project. They can utilize their land in 60:40 ratios,” the Mint report suggests.
This means SEZ developer will have to use 60% of total land in possession for industrial purpose; the rest can be used for residential and commercial purpose, added report.
Jai Corp has invested in 2 Multi product Special Economic Zones near Mumbai - Navi Mumbai SEZ (NMSEZ) and Mumbai SEZ (MSEZ).
NMSEZ is promoted by Reliance Group (headed by Shri Mukesh Ambani), Jai Corp and CIDCO, while MSEZ is promoted by Reliance Group (headed by Shri Mukesh Ambani) and Jai Corp.
