Jai Corp announced that its wholly-owned subsidiary company, Urban Infrastructure Venture Capital ('UIVCL') will inter alia seek the approval of its shareholders to amalgamate it's (i.e. UIVCL's) wholly-owned subsidiary company UI Wealth Advisors ('UIWAPL') with itself at the ensuing Annual General Meeting scheduled to be held on 27 September 2018.

Since the financial statements of both UIVCL and UIWAPL are already being consolidated with the financial statements of the Company, no material financial impact is expected to result from the proposed amalgamation.

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Welspun India Ltd, Reliance Naval & Engineering Ltd, Abbott India Ltd and Jyothy Laboratories Ltd are among the other gainers in the BSE's 'A' group today, 31 August 2018.

Jai Corp Ltd surged 7.60% to Rs 169.8 at 11:47 IST. The stock was the biggest gainer in the BSE's 'A' group. On the BSE, 12.92 lakh shares were traded on the counter so far as against the average daily volumes of 3.38 lakh shares in the past one month.

Welspun India Ltd soared 6.06% to Rs 73.5. The stock was the second biggest gainer in 'A' group. On the BSE, 11.31 lakh shares were traded on the counter so far as against the average daily volumes of 3.64 lakh shares in the past one month.

Reliance Naval & Engineering Ltd spiked 4.46% to Rs 16.86. The stock was the third biggest gainer in 'A' group. On the BSE, 10.64 lakh shares were traded on the counter so far as against the average daily volumes of 5.48 lakh shares in the past one month.

Abbott India Ltd rose 3.98% to Rs 8275. The stock was the fourth biggest gainer in 'A' group. On the BSE, 4775 shares were traded on the counter so far as against the average daily volumes of 907 shares in the past one month.

Jyothy Laboratories Ltd jumped 3.81% to Rs 221.9. The stock was the fifth biggest gainer in 'A' group. On the BSE, 13661 shares were traded on the counter so far as against the average daily volumes of 11548 shares in the past one month.

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Net profit of Jai Corp rose 690.80% to Rs 13.76 crore in the quarter ended June 2018 as against Rs 1.74 crore during the previous quarter ended June 2017. Sales rose 13.79% to Rs 158.84 crore in the quarter ended June 2018 as against Rs 139.59 crore during the previous quarter ended June 2017.

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Jai Corp will hold a meeting of the Board of Directors of the Company on 13 August 2018.

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