Jai Corp to acquire plants of two companies
Jai Corp to acquire plants of two companies >The board of directors of Jai Corp, (Q, N,C,F)* at its meeting held on Sep. 24, 2007, approved proposal for acquisition of the manufacturing units of Pet Fibres, producing PP HDPE woven sacks and bags and also to acquire the manufacturing unit of Prime Wovens, producing PP HDPE woven sacks, jumbo bags and PP Staple Fibres. Jai Corp reported that it swung to a profit for the quarter ended June 2007. During the quarter, the company witnessed rise in profit to Rs 340.40 million from a loss of Rs 61.3 million Sales for the quarter declined 37.76% to Rs 512.00 million compared with the corresponding quarter, a year ago.
Shares of the company gained Rs 518.1, or 5%, to settle at Rs 10,880.55. The total volume of shares traded was 1,655 at the BSE.(Monday)
