Jagatjit Inds in limelight

Jagatjit Industries is having quite a volatile day today; Opening almost 2% higher at Rs.60, the stock went up to Rs61.20, not too far from its 5% UC at Rs.61.60 but from there, profit booking pushed down the stock to Rs.56.50, down almost 4%; it has recouped from there is now back in the green at Rs.60 levels.

The market is enthused with its plans to set up a 200 KLPD Grain based Ethanol Distillery plant at its Hamira Unit in Punjab.

The cost is pegged at Rs.200  crore of which Rs.185 crore is to be sourced from banks (debt) and Rs.15 crore via internal accruals.

The project is expected to go on stream 12 months from the date of in-principle approval from the concerned Ministry and sanction of loan.