Jain Resource Recycl

Updates throughout

By Vivek Kumar M

June 10 (Reuters) - CMR Green Technologies' CMRG.NS stock surged nearly 40% on Wednesday, making it India's second-biggest listing pop so far this year, as investors bet on the aluminium recycler's market dominance.

The listing is also India's first on the main stock exchanges in about a month, as uncertainty triggered by the Iran war rattled investors and stalled primary market fundraises in Asia's third-largest economy.

The stock was up 31.8% at 253 rupees on the National Stock Exchange of India at 10:10 a.m. IST, valuing the company at $578 million.

It listed at 268 rupees, compared to the issue price of 192 rupees, the highest since Bharat Coking Coal's BARC.NS debut in January.

"After a long time, we have seen an IPO with strong investor interest. The valuations were at par with other listed peers and the company's dominance in aluminium recycling also helped boost investor traction," said Sunny Agrawal, head of fundamental equity research at SBICAPS Securities.

CMR, which operates 13 recycling facilities across India with a total capacity of 6,15,150 metric tons per annum, is the largest player in India.

Its rivals in the listed space include Gravita India GRAI.NS, Pondy Oxides and Chemicals PNDY.NS and Jain Resource Recycling JAIE.NS.

CMR received bids worth $6 billion last week for its $66 million initial public offering, which was a pure offer-for-sale in which existing investors and promoters offloaded their shares.

Ahead of the IPO, the company raised $19.7 million in an anchor round from investors including Citigroup, BNP Paribas, Bajaj Life Insurance, ICICI Prudential Mutual Fund and SBI Mutual Fund.

"Key monitorable for investors will be the hedging policy of the company in the current volatile price environment and ability to source aluminium scrap from domestic and international suppliers at an optimum cost," Agrawal said.

($1 = 95.4200 Indian rupees)

(Reporting by Vivek Kumar M; Editing by Harikrishnan Nair and Sherry Jacob-Phillips)

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** Jain Resource Recycling JAIE.NS shares fall 17.3% to 383.20 rupees, extending declines for a second-straight session after falling 18.1% in the previous session

** Reports quarterly net profit from continued operations of 660.4 million rupees, up from 542.3 million rupees, a year earlier, but down about 49% sequentially from the December quarter

** Revenue from operations rises to 31.05 billion rupees, from 17.60 billion rupees last year

** Co says will set up a new plastic recycling plant with 150 million rupees CapEx

** Stock trades at a forward 12-months PE of 25.30 vs industry median of 15.88

** YTD, JAIE down 5.1%

(Reporting by Abhinav Parmar in Bengaluru)

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May 18 (Reuters) - Jain Resource Recycling Ltd JAIE.NS:

• JAIN RESOURCE RECYCLING LTD MARCH-QUARTER CONSOL NET PROFIT FROM CONTINUING OPERATIONS 660.4 MILLION RUPEES

• JAIN RESOURCE RECYCLING LTD MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 31.05 BILLION RUPEES

• JAIN RESOURCE RECYCLING LTD - TO SET UP NEW PLASTIC RECYCLING PLANT WITH 150 MLN RUPEES CAPEX, OPERATIONAL BY Q3 FY27

Further company coverage: JAIE.NS

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** Shares of non-ferrous metal recycler Jain Resource Recycling JAIE.NS rise 3.6% to 434.95 rupees, extending gains to a third straight session

** Motilal Oswal reiterates "buy" with TP of 560 rupees, a 33% upside to stock's last close

** Brokerage says copper supply gap is widening, with demand expected to grow about 1.5 times by 2040 while only ~70% of requirements may be met through mining by 2035

** "In such a tightening supply scenario, JAINREC's forward integration into value-added copper products is strategically aligned with the fastest-growing new-age copper demand engines" - brokerage

** Motilal Oswal prefers JAIE due to its strong position in a tightening copper market, better pricing for green metals, and lower growth risks from integration and diversification

** YTD, stock up 4.5%

(Reporting by Abhinav Parmar in Bengaluru)

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Feb 9 (Reuters) - Jain Resource Recycling Ltd JAIE.NS:

• JAIN RESOURCE RECYCLING LTD - DEC-QUARTER CONSOL NET PROFIT FROM CONTINUING OPERATIONS 1.29 BILLION RUPEES

• JAIN RESOURCE RECYCLING LTD - DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 27.75 BILLION RUPEES

Further company coverage: JAIE.NS

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