Meanwhile, the S&P BSE Sensex was up 214.31 points or 0.81% at 26,580.46.

On the BSE, 2.94 lakh shares were traded on the counter so far as against the average daily volumes of 3.34 lakh shares in the past one quarter. The stock had hit a high of Rs 74.05 and a low of Rs 72.70 so far during the day.

The stock had hit a 52-week high of Rs 94.40 on 5 January 2016 and a 52-week low of Rs 52.25 on 12 February 2016. It had outperformed the market over the past one month till 29 December 2016, advancing 11.39% compared with the Sensex's 0.11% fall. The scrip had also outperformed the market in past one quarter, gaining 5.74% as against the Sensex's 5.25% fall.

The small-cap company has equity capital of Rs 17.84 crore. Face value per share is Rs 1.

Morgan Stanley Mauritius Company purchased 75.56 lakh shares of Jai Corp at Rs 67.25 per share in bulk deals on the BSE on 29 December 2016. Valiant Mauritius Partners sold 34 lakh shares. Valiant Mauritius Partners Offshore liquidated 41.55 lakh shares.

Valiant Mauritius Partners held 1.91% and Valiant Mauritius Partners Offshore owned 2.33% stake in Jai Corp end September 2016.

Jai Corp reported net loss of Rs 0.63 crore in Q2 September 2016, lower than net loss of Rs 10.19 crore in Q2 September 2015. Net sales rose 14.7% to Rs 179.33 crore in Q2 September 2016 over Q2 September 2015.

Jai Corp was incorporated in 1985. It has traditionally been into manufacturing businesses like steel, plastic processing and spinning yarn. Apart from expansion of its plastic processing business, it is now focusing and investing in emerging opportunities like developing SEZs, infrastructure, venture capital and real estate.