India's Jain Resource Recycling rises on profit jump, joint venture project

About this update from Jain Resource Recycling Limited

** Shares of Jain Resource Recycling NSE:JAINREC rise 4% to 369.6 rupees** Scrap recycling firm's Q2 consol profit rises 78%, rev rises 52% ** Earnings aided by a 80% jump in profit from lead and lead alloys segment ** JAIE also forms a JV with U.S. firm C&Y Group Investments to establish a recycling facility in India's Ahmedabad** More than 11 million shares traded as of 1:30 p.m. IST, double their 30-day avg ** Stock up 40% since listing on October 1

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