Jain Irrigation jumps on acquiring 80% stake in 2 US based micro-irrigation dealers

16 May 2017 Evaluate

Jain Irrigation Systems is currently trading at Rs. 99.00, up by 1.90 points or 1.96% from its previous closing of Rs. 97.10 on the BSE.

The scrip opened at Rs. 98.00 and has touched a high and low of Rs. 100.00 and Rs. 97.35 respectively. So far 197379 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 119.80 on 25-Apr-2017 and a 52 week low of Rs. 62.50 on 24-May-2016.

Last one week high and low of the scrip stood at Rs. 108.90 and Rs. 96.20 respectively. The current market cap of the company is Rs. 4544.14 crore.

The promoters holding in the company stood at 30.75%, while Institutions and Non-Institutions held 47.99% and 21.26% respectively.

Jain Irrigation Systems (JISL) through its multi generation wholly owned subsidiary in the United States of America (USA) has completed acquisition of 80% stake in two of the United States’ largest micro-irrigation dealers - Agri-Valley Irrigation, LLC (AVI) and Irrigation Design and Construction, LLC (IDC).

This promotes JISL’s USA business to become an un-paralleled leader in design, construction, service, and innovative Ag Technology providing a unique platform to help growers implement state-of-the-art irrigation technology and achieve More Crop Per Drop.

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.

Jain Irrigation Sys Share Price

60.90 -0.65 (-1.06%)
28-May-2024 15:51 View Price Chart
Peers
Company Name CMP
Supreme Industries 5637.55
Astral 2140.10
Finolex Inds 306.50
EPL 189.95
Jain Irrigation Sys 60.90
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