Cords Cable Industries wins bulk orders worth Rs 47cr

The supply of cables is to be completed before February, 2019.

Jun 19, 2018 11:06 IST India Infoline News Service

Cords Cable Industries has been awarded a contract to supply signal cables, including fire resistant-gas detector signal cables, alarm cables and control cables to be used in polymer addition project towards the hydrocarbon sector in Punjab.

The total estimated value of the said contract is Rs47cr (inclusive of GST). In accordance to the delivery schedule, supply of cables is to be completed before February, 2019.

Previously, Cords Cable Industries informed the stock exchanges that it received bulk orders amounting to Rs40cr for supplies to the hydrocarbon sector in Haryana, Assam and Gujarat.

It further claimed that it also received an approval for supplies to a Gulf-based oil major for all of its ongoing and upcoming projects, which is expected to further boost the company's exports, especially throughout the GCC (Gulf Cooperation Council) member states.

The company is a leading manufacturer of specialized control & instrumentation cables. It enjoys strong brand equity in the B2B segment. 

Cords Cable Industries Ltd is currently trading at Rs78.50 up by Rs2.35 or 3.09% from its previous closing of Rs76.15 on the BSE.
The scrip opened at Rs78.80 and has touched a high and low of Rs81.65 and Rs78 respectively. So far 24,854 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs98.45cr.

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