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Tuesday 19 May 2015

Jain Irrigation Shares Surge 17% update for 19 May 2015

Jain Irrigation Systems on Monday rose as much as 16.5% on the BSE, the highest single-day percentage gain in nearly seven-and-a-half years, as its Q4 results surpassed Street expectations. After posting a loss in the previous two quarters, the Maharashtra-based micro-irrigation firm reported a net profit of R98.53 crore for the quarter ended March 2015 on sales of R2,042.5 crore, its highest ever quarterly turnover. After gaining as much as 18.6% during day trade, the stock closed at R66.15 on the BSE. The Sensex closed 363.30 points, or 1.33%, up at 27,687.30. Trading volumes on counters of the BSE and the NSE jumped more than 10-fold against its 30-day average volume. On Monday, over 2.84 crore shares were traded, adding R428 crore to the market capitalisation.


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