Jain Irrigation is doing pretty well today. The stock price rose 4.5% to Rs.86.45, with over 6 lakh shares changing hands. It has a 10% UC at Rs.91.
The company announced yesterday that it has received an export order worth Rs.712 crore or $18.27 million from Rwanda Agriculture Board (RAB), Kigali, for irrigation (1,220 ha) and watershed development (1,752 ha) in Mahama Sector.
The order, which is under Export Targeted Modern Irrigated Agriculture Projects, will be executed near Rusumo (Rwanda-Tanzania border).
The project is financed by EXIM Bank of India under the Government of India Line of Credit programme.
The company plans to complete the project in 18 months.