Shares of Jai Corp continued to be on an upward spiral on Friday,hitting the upper end of the 5% circuit at Rs.3364.85. The stock has been hitting the upper 5% for 43 out of last 45 sessions.Buzz is that a part of the group's property in South Central Mumbai,currently held in unlisted companies, may be transfered to Jai corp.Two high profile officials at a leading domestic investment bank are said to have taken up position at the counter at around Rs.800 levels. Ref- ECO.Times/ 6th.Jan.2006.
Now this is what Nse has announced today:
News Verification : The media had reports on January 06, 2007 that a part of the groups property in south central Mumbai, currently held in unlisted companies, may be transferred to Jai Corp Limited. The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the officials of the company. Reply is awaited from Jai Corp Limited