Shares of Jain Resource Recycling, backed by ace investor Ashish Kacholia, came under heavy selling pressure on Tuesday, plunging as much as 19% to an intraday low of Rs 377 on the BSE. The stock has now fallen 34% over the last two sessions. As per the March quarter shareholding pattern, Kacholia held 1.14% stake in the company through Bengal Finance and Investment.
The sharp decline followed the company’s disclosure that geopolitical tensions between Iran and Israel severely disrupted its import supply chain during the March quarter, particularly in March 2026. According to the company, the conflict led to vessel rerouting and a sharp rise in port discharge liner charges imposed by shipping companies, costs that could neither be passed on to suppliers nor immediately recovered from customers.
