Cords Cable bags orders worth Rs16.63cr in Uttar Pradesh; stock up 4.5%

The commercial production for the said order is expected to commence from August and is to be executed within the current financial year as per the schedule.

Jun 21, 2019 12:06 IST India Infoline News Service

Cords Cable Industries
Cords Cable Industries Limited has been awarded prestigious orders for supply of Control, Power and Earthing Cables to be used in a Thermal Power Project in the state of Uttar Pradesh. The total estimated value of the said orders is Rs16.63cr. The commercial production for the said order is expected to commence from August and is to be executed within the current financial year as per the schedule.
 
Previously, Cords Cable Industries Limited informed the stock exchanges that it received registration for, inclusion in the "List of RDSO Vendors for Developmental Orders" from Research Designs & Standards Organisation (Government of India - Ministry of Railways) and had also received approval as a vendor for government works in the State of Punjab for "Aluminium Conductor LT Cables (ISI Marked)". Besides, the company has got prestigious approvals from the Airports Authority of India (AAI), Samsung Engineering Co. & Abu Dhabi National Oil Company (ADNOC) in the past, among others.
 
The order wins and approvals are significant for the company since they are a testimony of company's capabilities and quality parameters. Backed by various client approvals CORDS is continuously adding orders with prestigious clients and projects and is confident to continue the momentum.

Cords Cable Industries Ltd is currently trading at Rs58.30 up by Rs2.55 or 4.57% from its previous closing of Rs55.75 on the BSE.
The scrip opened at Rs59.45 and has touched a high and low of Rs59.45 and Rs56 respectively. So far 2,126 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs74.08cr.

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