Shares of beaten-down Jyoti Structures witnessed renewed buying interest in Wednesday's trade, November 11, with the stock surging 20% to close at ₹13, marking its biggest single-day gain in recent times.
The shares came into investors' radar after the company announced that it had mobilised substantial bank guarantees and letters of credit issued by its lenders pursuant to the resolution plan approved by the National Company Law Tribunal (NCLT) under the Insolvency and Bankruptcy Code, 2016.
The development follows an order passed by the National Company Law Appellate Tribunal (NCLAT), New Delhi, on May 26, 2026. In accordance with the order, the company had made further specific requests to its lenders for the release and disbursal of bank guarantees and letters of credit in line with the NCLT-approved resolution plan and the orders passed by the tribunal.
After a delay of five years, lenders have now started progressively releasing and disbursing bank guarantees and letters of credit worth ₹510.59 crore envisaged under the NCLT-approved resolution plan, following the company's requests.
Jyoti Structures said these facilities are being made available in line with its current business requirements.