Jai Corp has got major market fancy on the bourses. The reason could also be partly attributed to the fact that one of the promoters of the company, Anand Jain is best buddy of Mukesh Ambani. Call it reflected glory or anything else, for the markets, any association with Reliance is reason enough!
The company, engaged in steel, plastic processing, and spinning yarn has now evolved itself more into a realty company, having taken up development of SEZs. It has posted very good results for the year ended 31st March 2008.
The net sales of the company rose 23% at Rs.334.14 crore and the surge in ‘other income’ also helped boost the topline and thus the bottomlines. PBT rose 76% at Rs.148.32 crore and PAT rose by a sharp 91% at Rs.141.10 crore. On an equity of Rs.17.85 crore, the company posted an EPS of Rs.8.05 on a face value of Re.1 per share.
The company has recommended a dividend of 100% and the promoters have irrevocably waived their entitlement to dividend on equity shares held by them for the financial year 2007-08.
The company has now chalked out plans to invest around Rs.1000 crore in two SEZs - Navi Mumbai SEZ (NMSEZ) and Mumbai SEZ (MSEZ). Both are being co promoted by Reliance Industries. It is also developing a greenfield port in Rewas, jointly promoted by Maharashtra Maritime Board, Amma Lines, Reliance Logistics and Jai Corp. The company plans to invest in building airport, roads and bridges.
There is very little floating stock in the market, with 72.54% being held by the promoters and 10.23% being held by the FIIs. The public shareholding is just 12.40%. That and the association with Reliance, explains the high fancy for the stock.
Currently quoted at Rs.700, the share price dipped despite the robust performance. Stay invested.
The company, engaged in steel, plastic processing, and spinning yarn has now evolved itself more into a realty company, having taken up development of SEZs. It has posted very good results for the year ended 31st March 2008.
The net sales of the company rose 23% at Rs.334.14 crore and the surge in ‘other income’ also helped boost the topline and thus the bottomlines. PBT rose 76% at Rs.148.32 crore and PAT rose by a sharp 91% at Rs.141.10 crore. On an equity of Rs.17.85 crore, the company posted an EPS of Rs.8.05 on a face value of Re.1 per share.
The company has recommended a dividend of 100% and the promoters have irrevocably waived their entitlement to dividend on equity shares held by them for the financial year 2007-08.
The company has now chalked out plans to invest around Rs.1000 crore in two SEZs - Navi Mumbai SEZ (NMSEZ) and Mumbai SEZ (MSEZ). Both are being co promoted by Reliance Industries. It is also developing a greenfield port in Rewas, jointly promoted by Maharashtra Maritime Board, Amma Lines, Reliance Logistics and Jai Corp. The company plans to invest in building airport, roads and bridges.
There is very little floating stock in the market, with 72.54% being held by the promoters and 10.23% being held by the FIIs. The public shareholding is just 12.40%. That and the association with Reliance, explains the high fancy for the stock.
Currently quoted at Rs.700, the share price dipped despite the robust performance. Stay invested.
Source: Sptulsian.com
