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Jain Irrigation gains on Rs 385-cr Karnataka govt project

The company said it has bagged one of the country's largest irrigation projects worth Rs 386 crore in Karnataka

SI Reporter  |  Mumbai 

Jain Irrigation Systems is trading higher by 3% at Rs 73 after the company said it has bagged one of the country’s largest irrigation projects worth Rs 386 crore in Karnataka.

Krishna Bhagya Jal Nigam Ltd (KBJNL), a division of water resources department of Karnataka, has selected Jain Irrigation for 'Ramthal-Marol Integrated Irrigation Project' via the bidding process, the company said in a BSE filing.

The Ramthal-Marol Integrated Micro Irrigation project is intended to save 50% of water use. It involves survey, planning, design, supply and execution of distribution system using HDPE / PVC piping network.

Besides, it involves formation of water users co-operative societies in convenient blocks, installation of on-farm fully automated micro irrigation system on the field and two year’s maintenance after commissioning, it added.

The stock opened at Rs 73 and hit a high of Rs 73.55 on the BSE. A combined around 1.55 million shares have changed hands on the counter so far on the BSE and NSE.

First Published: Tue, December 31 2013. 11:23 IST
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