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Jain Irrigation gains on winning order from MSEDCL

The stock is up 6% to Rs 67.75 after the company wins largest ever solar agri pump tenders for Rs 473 crore.

SI Reporter  |  Mumbai 

Jain Irrigation gains on winning order from MSEDCL

Jain Irrigation Systems has moved higher by 6% to Rs 67.75, day’s highest level on the BSE, after the company announced that it has won the largest ever solar agri pump tenders for Rs 473 crore from Maharashtra State Electricity Distribution Company’s (MSEDCL)for supply and installation of 8,959 solar agri-pumps.

This is the first pilot phase out of the world’s biggest solar agri-pump project for 500,000 pumps launched by Government of Maharashtra through MSEDCL, it added.

Yesterday on November 3, the company said it has inked a three-year pact valued at Rs 750 crore with Hindustan Coca-Cola Beverages to supply mango pulp.

This is the third consecutive three-year agreement of Hindustan Coca-Cola Beverages Pvt Ltd (HCCBPL) -- the largest bottler of Coca-Cola in India -- with the firm's food division.

In past three days, the stock gained 10% as compared to a marginal 0.15% rise in the S&P BSE Sensex.

The trading volumes on the counter more than doubled with a combined 6.3 million shares changed hands on the BSE and NSE till 11:43 AM.

First Published: Wed, November 04 2015. 11:47 IST
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