Jain Irrigation gains on new order buzz

DALAL STREET SPIKES

Jain Irrigation was in the limelight, gaining more than 3.5 percent after the company announced bagging an order worth Rs 37 crore. The stock hit an intra-day high of Rs 93.40, before closing at Rs 91.10, up 3.7 per cent from its previous close.

Jain Irrigation Systems Ltd has recently formalised and concluded a contract for a value of Rs 36.47 crore for supply of mango pulp to Hindustan Coca-Cola Beverages Pvt Ltd (HCCBPL). The company's fruit processing division has been a strategic and major supplier to HCCBPL for the last four years.

JISL also supplies mango pulp and concentrate to Coca-Cola's bottling operations in different countries, the company in its communication to the exchange said.

The deliveries against the contract have commenced in recent months and are expected to be completed by April 2005, the statement added. In today's trading more than 2.44 lakh shares changed on the BSE.