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Jai Corp hits the roof on reports Mukesh may buy Co's 24% stake in NMSEZ


20 September 2018 11:24

Shares of Jai Corp Limited vaulted 10% to Rs 221.30 on reports in a section of media that the Chairman of Reliance Industries Limited, Mukesh Ambani, is in talks to buy Jai Corps 24% stake in Navi Mumbai Special Economic Zone.According to reports, Mukesh Ambani is dicussing the plan through his personal investment firms.Following the surge in price of the stock, the exchanges sought clarification from Jai Corp to verify the accuracy of the news item. Jai Corp has clarified that the news is purely speculative and that the report has not quoted any source attributable to the company.Jai Corp shares spurted to Rs 223.30 right at the stroke of the opening bell, gaining 10%. However, subsequent to the clarification from the company about the acquisition talks report, the stock retreated and declined to Rs 210.80. At present, it is hovering around Rs 215, still up with an impressive gain of almost 6%.On BSE, the Jai Corp counter has clocked a volume of nearly 2.1 million.
Jai Corp hits the roof on reports Mukesh may buy Co's 24% stake in NMSEZ. This article is published at 20 September 2018 11:24 from Sify Indian Business and Finance News, click on the read full article link below to see further details.


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Tags : Corp, hits, roof, reports, Mukesh, stake, NMSEZ


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