Mumbai based Jai Corp is a small cap trading company on stock exchanges. On Monday, the stock hit a new 52-week high, giving investors nearly 11% returns in a single day. Just a day before the first nationwide lockdown came into force, stocks fell 48 price level, however, now shares have almost skyrocketed 148 in less than 30 months. Jai Corp has the potential to grow further. In its technical report, Ventura Securities sees the stock reaching the middle from 225 The 575 level is moving up.
Jai Corp shares closed on BSE by 190.50 up 14.35 or 8.15%. Shares hit new 52-week high 195.45 each on the exchange as of today – an increase of at least 10.96% overall.
this is a Market hat cap 3,399.46 crore.
Shares of Jai Corp have gained 93 per cent in the last three months. Whereas the shares have gained about 54 percent in one year.
Shares were up on March 23, 2020 47.65 per piece on Dalal Street. During this, the nationwide lockdown came into force from the midnight of 24 March. coronavirus The pandemic that halted many business activities globally.
Since then, in less than 30 months, shares have gained 299.79%, if Monday’s closing price is taken into account. However, if the new 52-week high is taken into account, Jay Corp shares gained a whopping 310.2% on D-Street. This means that in less than 30 months since the first wave of Kovid, shares of Jai Corp have climbed almost 4 times.
With this, investors who put their money in Jay Corp at the end of March 2020 have seen their wealth quadruple so far.
It needs to be noted that the shares of Jay Corp were less than 2 in 2003.
Should you buy Jay Corp shares?
According to the report of Ventura Securities, the stock of Jai Corp started its bullish run From 1.45 (April 2003) Creating a Series of Higher Tops and Higher Bottoms Supported by 1,450 (January 2008), Vol. During the move, the stock consistently traded above average.
This was followed by profit-booking, and the stock traded below the average and made a low of 35.5 in August 2013. The stock bounced slightly in the middle, but was unable to cross the 300-350 price zone zone, the report said.
However, the report noted that the stock has recently given a symmetrical triangle breakout in the monthly chart. The monthly price bar is formed above the line connecting January 2008 and August 2022.
“William%R, CCI and ADX indicators indicate buying strength in the stock,” said Ventura’s report, “price behavior suggests potential upside.”
Potential targets for Ventura 225-375 -575 at Jay Corp. If the share price corrects to the downside then the buy level is at (165-152)-141-(130-124) Rs.
Established in 1985, Jai Corp has traditionally been into manufacturing businesses such as steel, plastic processing and spinning yarn. Apart from expanding its plastics processing business, it is now focusing and investing in emerging opportunities such as development of SEZs, infrastructure, venture capital and real estate. It is listed on both BSE and NSE exchanges.
During the first quarter of FY23, the company witnessed growth in both bottom-line and top-line front. This. earned a consolidated net profit of 14.19 crore against 11.58 crore in the same quarter last year. Consolidated revenue from operations stood at Q1FY23 vs . 194.61 crore in 186.12 crore in Q1 of FY22.
On segment-wise performance, Jai Corp reports healthy revenue growth in plastics processing Against 168.32 cr in Q1FY23 146.71 crore in Q1FY22. However, the revenue of the steel business declined 24.89 crore against 39.17 crore in Q1FY22.
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