Jain Irrigation Systems jumps 3.5% after bagging order from MSEDCL

The company has bagged MSEDCL most awaited tender for supply and installation of 8,959 Solar Agri Pumps.

Jain Irrigation Systems has jumped 3.5% at Rs. 66 on BSE. The company has bagged MSEDCL most awaited tender for supply and installation of 8,959 Solar Agri Pumps. The tender will be executed by projects division of the micro irrigation segment of the company and will also create additional sales opportunity for micro irrigation systems to individual farmers. The tender is expected to be serviced over next 6 to 12 months with further operational and maintenance to the farmers for next five years.

The scrip opened at Rs. 64.9 and has touched a high and low of Rs. 66 and Rs. 64.5 respectively. So far 1750588(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 2896.87 crore.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 92.8 on 03-Nov-2014 and a 52 week low of Rs. 50.55 on 25-Aug-2015. Last one week high and low of the scrip stood at Rs. 66.15 and Rs. 61 respectively.

The promoters holding in the company stood at 28.69 % while Institutions and Non-Institutions held 40.14 % and 31.01 % respectively.

The stock is currently trading below its 200 DMA.