Last Updated : Jan 03, 2020 10:16 AM IST | Source: Moneycontrol.com

Cords Cable rises 6% on approval to bid for Japanese firm's projects

The share price declined 32 percent in past 9 months.

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Cords Cable Industries share price rose 6.6 percent intraday on January 3 after the company received approval from a Japanese engineering consultancy & contracting major for future supplies.

This approval enables the company to participate in future bids for supplying qualified products to the said engineering consultancy & contracting major, where cables supplied by company will have applications at various industrial facilities including oil & gas processing, refineries, petrochemicals, fertilizers, cryogenics, power, water, infrastructure and industrial solutions, among others in India.

This enlistment is valid till December 31, 2022 and is subject to review, based on performance.

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This registration will allow company to supply instrument signal cables, instrument thermocouple cable, foundation fieldbus cables, fire alarm cables, and telecommunication cables.

At 09:54 hrs Cords Cable Industries was quoting at Rs 45.30, up Rs 1.95, or 4.50 percent on the BSE.

The share touched its 52-week high Rs 71.50 and 52-week low Rs 35.15 on 15 January, 2019 and 23 August, 2019, respectively.

Currently, it is trading 36.64 percent below its 52-week high and 28.88 percent above its 52-week low.

The share price declined 32 percent in past 9 months.
First Published on Jan 3, 2020 10:16 am
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