The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 264.57 on 09-Aug-2010 and a 52 week low of Rs. 155.15 on 01-Feb-2011.
Last one week high and low of the scrip stood at Rs. 187.00 and Rs. 178.00 respectively. The current market cap of the company is Rs. 6987.15 crore.
The promoters holding in the company stood at 30.76% while Institutions and Non-Institutions held 57.82% and 10.78% respectively.
Credit rating agency, CRISIL has upgraded its ratings on the bank loan facilities of Jain Irrigation Systems to ‘A-/Stable/P2+’ from ‘BBB+/Stable/P2’. The upgrade reflects rating agency’s belief that the company’s business risk profile will benefit on the back of healthy growth in revenues and continued strong profitability. The rating agency also believes that the company will fund its ongoing capital expenditure towards capacity augmentation with prudent proportion of debt and accruals, thereby improving its financial risk profile.
The ratings continue to reflect the company’s diversified revenue profile and strong market position and benefits. The company is expected to derive the healthy growth prospects from the micro irrigation system (MIS) segment in India over the medium term. These rating strengths are partially offset by Jain Irrigation’s large working capital requirements and the high dependence of the company’s MIS division on government policies.
Jain Irrigation is a diversified company with a market capitalization of Rs 7,500 crore approx. Jain’s product portfolio includes Irrigation Products, Piping Products, Plastic Sheets, Dehydrated Foods, Fruit Puree and Juice concentrates.
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