Jain Irrigation Systems surges on bagging project worth Rs 125.7 crore

13 Nov 2017

Jain Irrigation Systems is currently trading at Rs. 100.75, up by 4.65 points or 4.84% from its previous closing of Rs. 96.10 on the BSE.

The scrip opened at Rs. 97.00 and has touched a high and low of Rs. 101.45 and Rs. 97.00 respectively. So far 6,16,000 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. 111.50 and Rs. 95.10 respectively. The current market cap of the company is Rs. 4,652.00 crore.

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

Jain Irrigation Systems has bagged a micro irrigation project worth Rs 125.7 crore. The company’s MIS division, pioneer and leader of micro irrigation business in India has bagged an order for prestigious Waghur canal integrated irrigation project through e-tendering process.

The owner of the project is Tapi Irrigation Development Corporation, Government of Maharashtra. The Waghur Canal project will be implemented with pressurized HDPE/PVC pipe distribution in command area of 16,536 acres in Jalgaon district of Maharashtra state. The project will fulfill the national agenda ‘Har Khet Ko Pani’ and ‘More Crop Per Drop’. This will ensure higher productivity and sustainable income for farmers.

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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