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Jain Irrigation gains on Rs 100 cr HP govt order

The Himachal Pradesh govt issues a LOI for Rs 97.52 crore to provide integrated irrigation solution to farmers.

SI Reporter  |  Mumbai 

Jain Irrigation Systems has moved higher by 4% to Rs 126 after the company said it has been issued a Letter of Intent (LoI) for project by Himachal Pradesh (HP) government involving an outlay of approximately Rs 100 crore.

The project is a unique concept of integrated micro irrigation system in hilly terrain and will be a one of its kind project in the world, improving water use efficiency in canal command areas through conduit distribution and on farm management through micro irrigation systems, using pressurized HDPE piping network to irrigate command area of 11,900 acres, Jain Irrigation Systems said in a statement.

The stock opened at Rs 120 and hit a high of Rs 128 on National Stock Exchange. A combined 6.77 million shares changed hands on the counter so far on the NSE and BSE.

First Published: Fri, July 04 2014. 14:08 IST