Moneycontrol
Last Updated : Nov 27, 2018 10:03 AM IST | Source: Moneycontrol.com

Cords Cable surges 13% after Airports Authority of India approved as a pre-qualified supplier

Cords Cable Industries said this AAI approval is currently valid for a period of one year (on trial basis).

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Cords Cable Industries shares rallied as much as 13 percent in morning on Tuesday after the company is approved as a pre-qualified cable supplier with Airports Authority of India (AAI).

"This prestigious approval shall now enable Cords Cable industries to offer its approved list of cables towards creating, upgrading, maintaining and managing aviation infrastructure in the country for the projects where AAI is entrusted with airport modernisation and development," the cable maker said in its filing.

The company further said this approval is currently valid for a period of one year (on trial basis).

The contract will be extendable for a further period of three years, basis fulfilling certain performance criteria, it added.

At 09:55 hours IST, the stock was quoting at Rs 65.60, up Rs 6.00, or 10.07 percent on the BSE.

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First Published on Nov 27, 2018 10:03 am
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