January 11, 2018 / 5:00 AM / 5 months ago

BUZZ-India's Jai Corp jumps; Mukesh Ambani eyeing co's stake in NMSEZ - report

** Shares of Jai Corp Ltd, a maker of steel products and plastics, rise as much as 10 pct, their circuit breaker limit; stock hit its highest since January 2011

** Reliance Industries Ltd Chairman Mukesh Ambani, through his personal investment firms, is in talks to buy out Jai Corp’s 24 pct stake in Navi Mumbai Special Economic Zone (NMSEZ), Business Standard reported, citing sources

** If the deal goes through, Ambani will be the largest shareholder of NMSEZ with 48.1 pct stake - Business Standard

** Jai Corp and Reliance were not immediately available for comment

** Stock posts biggest intraday gain since Nov. 24

** More than 7.5 mln shares traded, 1.7 times their 30-day avg of 4.3 mln

** Stock up 16.4 pct this year as of Wednesday’s close

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