Jain Irrigation jumps on Rs 473 crore orders
Tracking the development, the stock surged 3.86 per cent to hit a high of Rs 66 on BSE. The scrip has recovered around 30 per cent from its 52-week low of Rs 50.55 hit on August 25.
By ET Online | Updated:
NEW DELHI: Shares of Jain Irrigation Systems climbed over 4 per cent in trade on Wednesday after the company said it has bagged its largest-ever solar agri pump tenders worth Rs 473 crore from Maharashtra State Electricity Distribution (MSEDCL).
“Jain Irrigation has emerged the largest bidder in all the 14 tenders floated by MSEDCL. The tenders are expected to be serviced over next 6 to 12 months with further operational and maintenance support to farmers for next five years,” the company said in a regulatory filing to BSE.
Tracking the development, the stock surged 3.86 per cent to hit a high of Rs 66 on BSE. The scrip has recovered around 30 per cent from its 52-week low of Rs 50.55 hit on August 25.
The company has installed more than 15,000 solar agri pump sets in nine states over the last few years. This accounted for more than 50 per cent of total installations in the country till date, the company claims.
The company’s food division had on Tuesday announced a three-year contract for supply of mango pulp to Hindustan Coca-Cola Beverages, the authorised bottler for Coca Cola, worth Rs 751 crore.
“Jain Irrigation has emerged the largest bidder in all the 14 tenders floated by MSEDCL. The tenders are expected to be serviced over next 6 to 12 months with further operational and maintenance support to farmers for next five years,” the company said in a regulatory filing to BSE.
Tracking the development, the stock surged 3.86 per cent to hit a high of Rs 66 on BSE. The scrip has recovered around 30 per cent from its 52-week low of Rs 50.55 hit on August 25.
The company has installed more than 15,000 solar agri pump sets in nine states over the last few years. This accounted for more than 50 per cent of total installations in the country till date, the company claims.
The company’s food division had on Tuesday announced a three-year contract for supply of mango pulp to Hindustan Coca-Cola Beverages, the authorised bottler for Coca Cola, worth Rs 751 crore.
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