Jai Corporation
- Thread starter jnj333
- Start date
- Status
Visnu, relax my dear. You know I entered the stock market in 1998 and in the next three years manged to loose about 400K but in the last four years I have recouped all my losses and have also made fabulous profits. So no need to panic looking at the daily ups and downs. In the long term, patience always pays off and you will emerge a winner. So stop worrying and start living. Cheers.
Here's a writeup which appeared in the latest issue of Businessworld
In the Ambani versus Ambani drama, a man from the margins is now hogging the script. Anand Jain of Jai Corp Ltd has launched himself from the shadow-boxing between the two brothers to the brightly-lit corporate proscenium. Jain, Mukesh Ambanis school friend from third standard and trusted financial advisor, has seen his fortune taking shape through the cut and thrust of the biggest corporate joust of the country.
Jains company Rs 350-crore Jai Corp shot into limelight last week after it sold shares worth Rs 2,200 crore to a clutch of foreign financial investors. Jains family sold 12.6 per cent (2.9 crore shares) of its 87.6 per cent stake at Rs 1,035 a share. Jai Corp stock skyrocketed to astronomical levels of Rs 20,000 from Rs 9,000 in a fortnight, stunning many retail investors who had sold their shares two years ago for a measly Rs 60 a share. K. Balakrishnan, a retail investor, who sold his 31 shares for a profit of Rs 29 a share in 2005, regrets not holding on to them. They would would have fetched Rs 6 lakh now, he says, wondering what is driving the stock now.
Balakrishnan will not wonder who Jain went to school with. Jain is not only Mukeshs trusted financial advisor but also his school friend. Behind his bond with Mukesh is a relationship of more than 25 years, which also saw Jain supporting Mukesh through the family business split.
Jain is keen to unlock value in his galvanised plain and corrugated steel sheets.In a presentation to investors he hinted unlocking value in this steel business through a public offering or a private placement of shares.
Reliance Industries chairman Mukesh Ambanis close relationship with Jain helps him circumvent a non-compete clause he signed with his brother when they carved up their fathers business in June 2005.
Mukesh is bound by the agreement to stay away from businesses which Anil is in, for the next five years. However, Jai Corp is launching into many of those businesses with Mukeshs support. The market capitalisation of Jai Corp shot up from Rs 339.76 crore in October last year to the stratospheric Rs 19,515.02 crore on Wednesday, 17 October. Just a year before, the market capitalisation was just Rs 96.18 crore in the same month when the company was still weaving yarn and making galvanised corrugated steel and jumbo bags used to pack cement and food grains. When Jai Corp moved to infrastructure projects, its market fortune also took a turn. The stock soared on the BSE to reach new highs when the board announced a 1:1 bonus and a stock split of 1:10.
As Jai Corp diversified into real estate over the last two years, Jain found himself in the land of plenty. He became the chairman of two SEZs in Mumbai and also floated a real estate focused asset management company. Last year, he launched the countrys largest real estate investment management company Urban Infrastructure Venture Capital (UIVCPL ) with a fund that manages $1.1 billion (Rs 4,400 crore). UIVCPL is the Indian advisor to Urban Infrastructure Real Estate Fund, a Mauritius-based offshore fund for investing in India. Sources say he is one of the largest real estate owners in the state.
Just as Jai Corps stock made a vertical lift, Jains designs also leapt up from the drawing board. He is among the high riders of an incipient infrastructure boom, and if he carries on with his ambitions and his spot of luck also holds, he might get into the top corporate order. As real estate seems to be yielding surreal gains to him, he is seen to be pulling out all stops. From ports to airports to power, every sector that shines is his.
The Mukesh Ambani spring board has flung him high. Jain has joined hands with his friend Mukesh to promote Special Economic Zones (SEZs) and develop ports in Navi Mumbai and Maharashtras Raigad district. Jai Corp is building a power station, a port and an airport for Mukeshs SEZ projects. Mukesh has acquired more than 50 per cent ownership in the Navi Mumbai SEZ.
The remaining stake is owned by Nikhil Gandhi, who is the original promoter of the project, Jai Corp and City and Industrial Development Corporation. Jai Corp is also expanding the greenfield Rewas Port near Mumbai, which it jointly owns with Maharashtra Maritime Board, Amma Lines and Reliance Logistics. Sources say Jai Corp will bid for developing a large airport in Navi Mumbai, adjacent to the SEZ. Jai Corp also has plans to foray into power generation and its distribution and transmission to the SEZ, and will float three special purpose vehicles to undertake this business. It will also build a 700 MW gas based power plant within the SEZ.
People affected by the Mukesh Ambani-promoted MSEZ would be given 12.5 per cent of the developed land, a compensation at market rates for their land, assurance of employment after successful completion of training, and two years sustenance payment for landless labourers. Village infrastructure would also be upgraded by spending around Rs. 90 crore.
Mukesh trusts Jain so much that he has made him chairman of Reliance Haryana SEZ, a joint venture between RIL, which holds 90 per cent in it, and the Haryana government.
Jain, a commerce graduate with a passion for the stockmarket and real estate business, has been a financial advisor and trouble-shooter to his friend, a role that has earned him the wrath of Mukeshs younger brother Anil Ambani. During the fight with Mukesh to split the Reliance group, Anil had alleged that the rift with Mukesh was created by Jain and Manoj Modi, who now heads Reliance Retail.
My relationship with Mukesh is friendship without any expectations from him, Jain recently told a close friend. Though Jain does not own a single share, he acts as a strategic advisor to RIL for all stockmarket and real estate transactions. RILs portfolio of investments was about $28 billion (Rs1.12 lakh crore), including the shares of RPL, Mukesh told shareholders at the last AGM.
Though Jain operates from a small office at Nariman Point, he is now in the middle of the hottest corporate action. His company is developing an SEZ outside Mumbai which will house an International Financial Centre, an IT park, and a diamond bourse that would rival Antwerps. The IT park will bring in several IT companies into Maharashtra, which lost business in this space to Southern cities such as Bangalore, Chennai and Hyderabad.
We can even provide uplinking facilities for media entertainment companies, says a company official who does not wish to be quoted. A neighbouring city will reduce traffic congestion in Mumbai. The company has even proposed the setting up of a hovercraft service along the citys coastal line connecting it to Navi Mumbai.
Sources say Jain, who is a master in solving complex problems, has turned the SEZ deal in Reliances favour wielding his negotiating skills with Nikhil Gandhi, the original promoter of Maha Mumbai SEZ. Gandhi initially approached the Tata Group to partner him to build the special economic zone. But when the diversified conglomerate took time to arrive at a decision, Jain spotted the opportunity, took the lead and clinched the deal for his friend Mukesh. Jain is also gifted with a skill to settle family disputes. Sources said he amicably settled the dispute in Arvind Poddar family that owns Balakrishna Industries.
Jain may be known by the redoubtable company he keeps, but his eye-popping success is due also to his own business acumen. Jain is the man who knew his moment and did not miss his chance. His spectacular jump into the rapids of mainstream business will repeatedly test this very instinct of his.
In the Ambani versus Ambani drama, a man from the margins is now hogging the script. Anand Jain of Jai Corp Ltd has launched himself from the shadow-boxing between the two brothers to the brightly-lit corporate proscenium. Jain, Mukesh Ambanis school friend from third standard and trusted financial advisor, has seen his fortune taking shape through the cut and thrust of the biggest corporate joust of the country.
Jains company Rs 350-crore Jai Corp shot into limelight last week after it sold shares worth Rs 2,200 crore to a clutch of foreign financial investors. Jains family sold 12.6 per cent (2.9 crore shares) of its 87.6 per cent stake at Rs 1,035 a share. Jai Corp stock skyrocketed to astronomical levels of Rs 20,000 from Rs 9,000 in a fortnight, stunning many retail investors who had sold their shares two years ago for a measly Rs 60 a share. K. Balakrishnan, a retail investor, who sold his 31 shares for a profit of Rs 29 a share in 2005, regrets not holding on to them. They would would have fetched Rs 6 lakh now, he says, wondering what is driving the stock now.
Balakrishnan will not wonder who Jain went to school with. Jain is not only Mukeshs trusted financial advisor but also his school friend. Behind his bond with Mukesh is a relationship of more than 25 years, which also saw Jain supporting Mukesh through the family business split.
Jain is keen to unlock value in his galvanised plain and corrugated steel sheets.In a presentation to investors he hinted unlocking value in this steel business through a public offering or a private placement of shares.
Reliance Industries chairman Mukesh Ambanis close relationship with Jain helps him circumvent a non-compete clause he signed with his brother when they carved up their fathers business in June 2005.
Mukesh is bound by the agreement to stay away from businesses which Anil is in, for the next five years. However, Jai Corp is launching into many of those businesses with Mukeshs support. The market capitalisation of Jai Corp shot up from Rs 339.76 crore in October last year to the stratospheric Rs 19,515.02 crore on Wednesday, 17 October. Just a year before, the market capitalisation was just Rs 96.18 crore in the same month when the company was still weaving yarn and making galvanised corrugated steel and jumbo bags used to pack cement and food grains. When Jai Corp moved to infrastructure projects, its market fortune also took a turn. The stock soared on the BSE to reach new highs when the board announced a 1:1 bonus and a stock split of 1:10.
As Jai Corp diversified into real estate over the last two years, Jain found himself in the land of plenty. He became the chairman of two SEZs in Mumbai and also floated a real estate focused asset management company. Last year, he launched the countrys largest real estate investment management company Urban Infrastructure Venture Capital (UIVCPL ) with a fund that manages $1.1 billion (Rs 4,400 crore). UIVCPL is the Indian advisor to Urban Infrastructure Real Estate Fund, a Mauritius-based offshore fund for investing in India. Sources say he is one of the largest real estate owners in the state.
Just as Jai Corps stock made a vertical lift, Jains designs also leapt up from the drawing board. He is among the high riders of an incipient infrastructure boom, and if he carries on with his ambitions and his spot of luck also holds, he might get into the top corporate order. As real estate seems to be yielding surreal gains to him, he is seen to be pulling out all stops. From ports to airports to power, every sector that shines is his.
The Mukesh Ambani spring board has flung him high. Jain has joined hands with his friend Mukesh to promote Special Economic Zones (SEZs) and develop ports in Navi Mumbai and Maharashtras Raigad district. Jai Corp is building a power station, a port and an airport for Mukeshs SEZ projects. Mukesh has acquired more than 50 per cent ownership in the Navi Mumbai SEZ.
The remaining stake is owned by Nikhil Gandhi, who is the original promoter of the project, Jai Corp and City and Industrial Development Corporation. Jai Corp is also expanding the greenfield Rewas Port near Mumbai, which it jointly owns with Maharashtra Maritime Board, Amma Lines and Reliance Logistics. Sources say Jai Corp will bid for developing a large airport in Navi Mumbai, adjacent to the SEZ. Jai Corp also has plans to foray into power generation and its distribution and transmission to the SEZ, and will float three special purpose vehicles to undertake this business. It will also build a 700 MW gas based power plant within the SEZ.
People affected by the Mukesh Ambani-promoted MSEZ would be given 12.5 per cent of the developed land, a compensation at market rates for their land, assurance of employment after successful completion of training, and two years sustenance payment for landless labourers. Village infrastructure would also be upgraded by spending around Rs. 90 crore.
Mukesh trusts Jain so much that he has made him chairman of Reliance Haryana SEZ, a joint venture between RIL, which holds 90 per cent in it, and the Haryana government.
Jain, a commerce graduate with a passion for the stockmarket and real estate business, has been a financial advisor and trouble-shooter to his friend, a role that has earned him the wrath of Mukeshs younger brother Anil Ambani. During the fight with Mukesh to split the Reliance group, Anil had alleged that the rift with Mukesh was created by Jain and Manoj Modi, who now heads Reliance Retail.
My relationship with Mukesh is friendship without any expectations from him, Jain recently told a close friend. Though Jain does not own a single share, he acts as a strategic advisor to RIL for all stockmarket and real estate transactions. RILs portfolio of investments was about $28 billion (Rs1.12 lakh crore), including the shares of RPL, Mukesh told shareholders at the last AGM.
Though Jain operates from a small office at Nariman Point, he is now in the middle of the hottest corporate action. His company is developing an SEZ outside Mumbai which will house an International Financial Centre, an IT park, and a diamond bourse that would rival Antwerps. The IT park will bring in several IT companies into Maharashtra, which lost business in this space to Southern cities such as Bangalore, Chennai and Hyderabad.
We can even provide uplinking facilities for media entertainment companies, says a company official who does not wish to be quoted. A neighbouring city will reduce traffic congestion in Mumbai. The company has even proposed the setting up of a hovercraft service along the citys coastal line connecting it to Navi Mumbai.
Sources say Jain, who is a master in solving complex problems, has turned the SEZ deal in Reliances favour wielding his negotiating skills with Nikhil Gandhi, the original promoter of Maha Mumbai SEZ. Gandhi initially approached the Tata Group to partner him to build the special economic zone. But when the diversified conglomerate took time to arrive at a decision, Jain spotted the opportunity, took the lead and clinched the deal for his friend Mukesh. Jain is also gifted with a skill to settle family disputes. Sources said he amicably settled the dispute in Arvind Poddar family that owns Balakrishna Industries.
Jain may be known by the redoubtable company he keeps, but his eye-popping success is due also to his own business acumen. Jain is the man who knew his moment and did not miss his chance. His spectacular jump into the rapids of mainstream business will repeatedly test this very instinct of his.
Hi
I am not a technical expert but surely it looks like JAI has downside support at around 1035 levels (Remember this is same level at which FII's entered this stock)...............
Today agian it is back in green soon after crossing that mark..
Last week same trend was seen in this stock............
some volaitility is there since many people who are sitting on large profits but the company has strong future and next months AGM on 17th Nov. will surely start the glory days for JC....
I am not a technical expert but surely it looks like JAI has downside support at around 1035 levels (Remember this is same level at which FII's entered this stock)...............
Today agian it is back in green soon after crossing that mark..
Last week same trend was seen in this stock............
some volaitility is there since many people who are sitting on large profits but the company has strong future and next months AGM on 17th Nov. will surely start the glory days for JC....
- Status
| Thread starter | Similar threads | Forum | Replies | Date |
|---|---|---|---|---|
| F | Full time traders from Jaipur? | Introductions | 7 | |
| J | jaicorp intraday data from 2006-2009 | General Trading & Investing Chat | 0 | |
| R | Jai Shri Ram | Introductions | 2 | |
| K | Need advice on Jai Prakash Power Ventures | Introductions | 3 | |
| V | Hi everybody Jai shree Krishna | Introductions | 1 |
Similar threads
-
-
jaicorp intraday data from 2006-2009
- Started by john302928
- Replies: 0
-
-
-