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

** 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