Jain Irrigation soars 72% in two days after mgt clarifies on price movement

In April, NSE issued a list of 34 securities, which included Jain Irrigation, to be removed from derivatives from June 28, as they failed to meet the criteria laid down b

Shares of Jain Irrigation Systems soared 12 per cent to quote Rs 28 per share on the BSE on Monday, recovering almost 72 per cent in the past two trading sessions, after the company clarified to the exchanges regarding the sharp fall in its share price. The stock of the plastic products company hit multi-year low of Rs 16.30 on Thursday, June 20.

“Unabated and unprecedented significant fall in share price is not linked to company’s current or expected performance but may be linked to exit of company’s stock from future & options (F&O) and/or negative sentiments born out of