Jai Corp Share Price Target; Multibagger Stock Rises 4-folds In Over 2 Yrs

Small-cap company Jai Corp, situated in Mumbai, trades on stock markets. The stock reached a new 52-week high on Monday, providing investors with gains of about 11% in a single day. The stock fell below the ₹48 price threshold the day before the first statewide lockdown went into force, but it has since soared by almost ₹148 in less than 30 months. Jai Corp. has more upside potential. Ventura Securities forecasts the stock’s future range to be between ₹225 to ₹575 in its technical assessment.

Shares of Jai Corp finished at ₹190.50 on the BSE, up ₹14.35 or 8.15%. Earlier today, the shares had reached a new 52-week high of ₹195.45 per share on the market, increasing the entire gain by at least 10.96%.

Its market capitalization is ₹3,399.46 crore.

Shares of Jai Corp have increased by a staggering 93% during the past three months. While the shares have increased by about 54% in a year.

The shares were trading at roughly ₹47.65 rupees per piece on Dalal Street on March 23, 2020. During this period, the nationwide lockdown went into force at midnight on March 24 as a result of the global Coronavirus pandemic, which disrupted numerous company operations.

If Monday’s closing price is taken into account, the shares have increased by an astounding 299.79% since then, in less than 30 months. However, when the new 52-week high was taken into account, Jai Corp shares on D-Street increased by a staggering 310.2%. Therefore, since the launch of Covid in its initial wave, fewer than 30 months have passed since Jai Corp. shares first began to rise.

As a result, investors who deposited their funds at Jai Corp in late March 2020 have likely seen their wealth increase by a factor of four as of this writing.

It needs to be noted that Jai Corp shares were less than ₹2 in 2003.

Jai Corp Share Price Target; Should You Buy?

Jai Corp. stock began its upward movement from ₹1.45 (April 2003) to ₹1,450 (Jan 2008), establishing a succession of higher tops and higher bottoms, backed by volumes, according to a Ventura Securities analysis. The stock consistently traded above averages during the movement.

Following profit booking, the stock began to move below average and reached a low of ₹35.5 in August 2013. The study indicated that the stock saw a brief rally in this period but was unable to get over the ₹300–350 Price zone region.

The research did note, however, that the stock lately produced symmetrical triangle breakouts on monthly charts. Above the line linking January 2008 and August 2022, a monthly price bar is established.

According to Ventura’s report, “The William% R, CCI, and ADX Indicators indicate purchasing strength in the stock, and the behaviour of the Price signals a potential additional Up Move.”

Ventura continues to have ₹225-₹375-₹575 as potential targets for Jai Corp. The buy levels in rupees are (₹165-₹152)-₹141-(₹130-₹124) if the stock price corrects lower.

Since its incorporation in 1985, Jai Corp has focused on industrial industries such spinning yarn, processing plastic, and steel. In addition to growing its plastic manufacturing operations, the company is currently concentrating on and making investments in new prospects such building SEZs, infrastructure, venture capital, and real estate. It is traded on the BSE and NSE marketplaces.

During the first quarter of FY23, the company witnessed growth in both the bottom-line and top-line front. It garnered a consolidated net profit of ₹14.19 crore against ₹11.58 crore in the same quarter last year. Consolidated revenue from operations stood at ₹194.61 crore in Q1FY23 versus ₹186.12 crore in Q1 of FY22.

On segment-wise performance, Jai Corp recorded healthy revenue growth in plastic processing at ₹168.32 crore in Q1FY23 against ₹146.71 crore in Q1FY22. However, steel business revenue declined to ₹24.89 crore against ₹39.17 crore in Q1FY22.

Disclaimer :- The views and recommendations made above are those of individual analysts or broking companies, and not of Ours.
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