Jiya Eco spikes 10 per cent on back of building new pellet unit

Jiya Eco Products’ subsidiary company, Jiya Eco Gandhidham, is setting up new pellet plant in 3 acres field at Gandhidham in the state of Gujarat. Commencement of operations at the new plant will benefit the company's renewable energy segment and drive growth.

Shed building for the new plant in Gandhidham has been completed and pellet machinery will reach the premise in a short period of time, machinery and technologies have been finalized from China. This unit will add annually 2,60,000 tons to the company's production capacity.

The promoter holding in the company stood at 63.63 per cent, while the non-institution held 36.37 per cent stake in the company.

Currently, the company is engaged in manufacturing of biofuel, such as bio-briquettes and bio-pellets, which is an alternative source of energy. The company's segments include manufacturing of biofuel, manufacturing of pellete, kutti and stoves.

On Wednesday, the stock has opened at Rs. 93 per share and touched a high/low of Rs.112/Rs.92.45, respectively and at 11:31 am, the stock was quoting at Rs. 101.60, which is up by 8.20 per cent from its previous close of Rs. 93.90.