Jain Irrigation, MSTC, Savita Oil shares rise up to 17% 

Shares of Jain Irrigation Systems, MSTC and Savita Oil Technologies rose up to 17% on Thursday amid mild gains in the broader market. Jain Irrigation Systems shares rose 14% to Rs 33.09 against the previous close of Rs 29.16. Market cap of the irrigation firm rose to Rs 2283.18 crore. Rally in the stock came after the world’s largest micro-irrigation systems provider and a global leader in sustainable agriculture, said it commissioned a 20,000 tonne/annum high-tech industrial-scale biochar facility along with its partners in Jalgaon, Maharashtra. The move will enable advancing of climate-smart agriculture, circular manufacturing, and engineered carbon removal at commercial scale. The firm has worked with global experts in the field to design and implement this pioneering project.

On similar lines, Savita Oil Technologies shares rose 17% to a 52 week high of Rs 600.05 today against the previous close of Rs 514.15. Market cap of the firm rose to Rs 3,940 crore. Total of 5.82 lakh shares changed hands amounting to a turnover of Rs 33.30 crore. 

Shares of state-owned digital e-commerce, auctioning, and trading company MSTC rose 17% to Rs 523.10. Market cap of the firm rose to Rs 3,632 crore. Total of 4.03 lakh shares changed hands amounting to a turnover of Rs 20.27 crore. The rally in the PSU stock came after after the Union Cabinet approved an incentive scheme to replace old trucks and buses in the Delhi-NCR region, a move expected to boost vehicle scrappage activity.  The new scrappage policy could raise demand for organised recycling and scrap disposal services, benefiting companies operating in the segment.