JBF Ind hits 5% upper circuit for 2nd straight day on RIL takeover buzz

RIL, meanwhile, said that there are no negotiations which are taking place for Reliance to takeover JBF Industries or its assets

Shares of JBF Industries were locked in the 5 per cent upper circuit for the second straight day at Rs 26.30 on the BSE in Thursday's session on reports that Reliance Industries (RIL) looks set to take over the company with CFM Asset Reconstruction Company (ARC).

The stock of the polyester manufacturer has gained 15 per cent in the past three days. It hit a 52-week high of Rs 50.20 on July 6, 2021.

Currently, JBF Industries is trading under the T group on the BSE. In the T2T segment, each trade has to result in delivery and no intra-day netting of