Jain Irrigation spurts on new order

Jain Irrigation today rose over 3% to Rs.114.90, with almost 5 lakh shares changing hands. Its 52-week high is at Rs.150.40.

The stock price rose into the green, reacting to its announcement of today that it has bagged order for Integrated Irrigation Solution Project in Karnataka.

Visvesvaraya Jala Nigam Limited, a Division of Water Resources Department of Karnataka, has placed this order on the company through National Competitive Bidding.

The project is valued at Rs.288 crore. Under this project, water is lifted from Upper Bhadra Canal and provision of irrigation through Drip Irrigation system to 16193 acre along with filling of 59 number of tanks to be undertaken under single work in Tarikere taluka of Chikkamagaluru district in Karnataka.

Under this order, more than 5000 farmers are to be benefitted by this transformative project.

The project is expected to be completed in 24 months.