Jain Irrigation Systems surges on announcement of proposal to spend Rs 86500 crore on irrigation projects in 5 years

29 Feb 2016

Jain Irrigation Systems is currently trading at Rs. 58.60, up by 2.55 points or 4.55% from its previous closing of Rs. 56.05 on the BSE.

The scrip opened at Rs. 56.30 and has touched a high and low of Rs. 60.05 and Rs. 56.30 respectively. So far 1291405 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 79.00 on 23-Jul-2015 and a 52 week low of Rs. 47.00 on 17-Feb-2016.

Last one week high and low of the scrip stood at Rs. 60.05 and Rs. 53.20 respectively. The current market cap of the company is Rs. 2539.08 crore.

The promoters holding in the company stood at 28.70% while Institutions and Non-Institutions held 50.23% and 21.07% respectively.

Finance Minister, Arun Jaitley in its budget Proposed to spend Rs 86500 crore on irrigation projects in 5 years.

Jain Irrigation Systems is a manufacturer of a wide variety of PVC pipes, PE pipes, water and gas transportation pipes, ducts for optical fibre cables and drip irrigation pipes. It is also engaged in tissue culture of bananas and pomegranates and is the world’s largest processor of mangoes and is the world’s second largest processor of onions and vegetables.

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