Jain Irrigation Systems moves up on its arm securing orders worth $23.77 million

25 Oct 2017

Jain Irrigation Systems is currently trading at Rs. 95.55, up by 0.15 points or 0.16% from its previous closing of Rs. 95.40 on the BSE.

The scrip opened at Rs. 96.10 and has touched a high and low of Rs. 97.00 and Rs. 94.55 respectively. So far 385654 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. 79.80 on 22-Dec-2016.

Last one week high and low of the scrip stood at Rs. 97.00 and Rs. 93.00 respectively. The current market cap of the company is Rs. 4755.19 crore.

The promoters holding in the company stood at 28.46%, while Institutions and Non-Institutions held 44.23% and 27.31% respectively.

NaanDan Jain Mexico, a multi generation subsidiary company of Jain Irrigation Systems, has been awarded two contracts in Honduras. The total value of these two contracts is $23.77 million. The two projects envisage piped conveyance of irrigation water to the fields of farmers in the command areas of two reservoirs. The company will design, supply, install and commission these plastic pipe networks during the next two and half years. This will benefit at least 6,000 farmers whose farms will get the irrigation water from the reservoirs.

The contracts were awarded to NaanDanJain's Isreal's subsidiary company in Mexico by the Ministry of Agriculture in Honduras. These projects will serve as models for similar projects in the Central America region and are in line with the concept of ‘Resource to Root’ which is being pioneered and promoted by Jain Irrigation in India and elsewhere.

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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