Signet Industries rises on securing vendor approval from Madhya Pradesh Jal Nigam Maryadit

Signet Industries is currently trading at Rs. 7.10, up by 0.20 points or 2.90% from its previous closing of Rs. 6.90 on the BSE.

The scrip opened at Rs. 7.30 and has touched a high and low of Rs. 7.30 and Rs. 7.05 respectively. So far 8094 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 14.96 on 31-Oct-2017 and a 52 week low of Rs. 6.40 on 28-Mar-2018.

Last one week high and low of the scrip stood at Rs. 7.46 and Rs. 6.80 respectively. The current market cap of the company is Rs. 210.47 crore.

The promoters holding in the company stood at 70.10%, while the Non-Institutions held 29.90% stake in the company.

Signet Industries has secured a prestigious vendor approval for its HDPE Pipes & fittings, from Madhya Pradesh Jal Nigam Maryadit, a state Government undertaking which is the nodal body for executing drinking water supply and sewerage disposal projects in Urban and Rural areas.

The product approval paves way for the company to henceforth participate in the upcoming tenders being floated by M P Jal Nigam for HDPE pipes for its ongoing and forthcoming projects.

Signet Industries is engaged in manufacturing of plastic products and whole sale trade of chemicals & plastic materials.