Why is Jain Irrigation locked in the upper circuit?
The shares of Jain irrigation are clearly seen outperforming the markets on Monday. The share price of Jain Irrigation is up by 129 per cent in 2021 alone.
Trading at Rs 43.60 per share the stock of Jain Irrigation is locked in the Upper Circuit after gaining by Rs 2.05 per share on Monday.
The shares of Jain Irrigation are trending higher owing to the debt restructuring plan and the decision to sell its non-core assets. The company it is exchange filing on December 04, announced about its debt restructuring plan to be concluded and about its decision to sell it non-core assets. Recently the company announced a healthy set of numbers.
Positive earnings, debt restructuring and selling of non-core assets are the triggers that are working in favor of Jain Irrigation. The company is also believed to have a healthy order book indicating strong revival.
The shares of Jain Irrigation have risen by ~6 per cent in the past one week when the BSE Sensex is down by more than 2 per cent.
On Monday BSE Sensex tumbled by ~950 points while Jain Irrigation was up by ~5 per cent , locked in the upper circuit. Owing to the positive annoucement, improving business prospects and positive financial trend the shares of Jain Irrigation may remian in limelight in coming weeks.