/ CMI Inches Higher Over 5% Eyes To Expand To Nepal Through Ircon ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Friday, 28 April 2017

Shares of CMI Ltd., manufacturer & marketer of cables and electricals are surging higher on BSE, in the early hours of trade as the company is eyeing to expand its network in Nepal through Ircon, after supplying cables for the railways in Iran & Bangladesh.

Amit Jain, managing director, CMI Cables informed –“ Ircon has bagged a turnkey project for a railway network in Nepal. For supply of cables, we have emerged as the lowest bidder, and are likely to get the award,” but the value of the potential demand is not disclosed.

He also informed that for Engineers India Ltd., the company has developed cables to ensure fire safety, wherein, the circuit integrity is maintained for 90 minutes at high temperature of 950 degree celsius.

The total traded quantity stands at Rs 0.14 lakh with market capitalisation of Rs 325.10 crore, as on today’s trading session.

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