Shares of Jayant Infratech were locked in the 5 per cent upper circuit at Rs 280.55 on Wednesday. The stock touched a new high since its market debut last month.
In the past one month, the engineering, designing & construction company has zoomed 219 per cent from a July 15 level of Rs 87.90. Since its market debut on July 13, it has rallied 269 per cent from its opening level of Rs 76 on the BSE. The stock has been locked in the upper circuit for the last 23 days.
Jayant Infratech trades in the SME segment under the "M" group only on the BSE. The trading, clearing and settlement in the SME segment is done on a T+2 basis. Trades done in BSE SME scrips are required to be compulsorily settled in demat mode.
As of 11:43 am; a total of 2,000 equity shares had changed hands with pending buy orders for 28,000 shares on the BSE counter, data showed.
Jayant Infratech, incorporated in the year 2003, is a technology driven company with excellence in railway electrification & infrastructure projects. The company’s major work encompasses electrification of new & existing railway tracks.
On July 30, Jayant Infratech announced that the company has entered into a pact with Jhajharia Nirman Limited for a proposed joint venture (JV) for EPC contracts floated by Indian railways. The proposed JV would be provided by the company later at the time of entering the JV agreement, Jayant Infratech said in an exchange filing.
The objective of this agreement is to forge a pact between both the companies to enter into JV for EPC contracts being floated by the Indian railways, thereby harnessing the combined potential for generation of a new vertical.
The pact aims to harness individual strengths of both the companies respectively in the fields of rail engineering & rail electrification for mutual benefit and to gain better leverage over competition. The terms of JV shall be based on case-to-case basis, the company said.
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