The company made this announcement during trading hours today, 13 February 2008.
Meanwhile, BSE Sensex was up 272.52 points or 1.64% to 16,880.53.
On BSE, 2,795 shares were traded in the counter. The scrip had an average daily volume of 44,598 shares in the past one quarter.
The stock hit a high of Rs 650 and a low of Rs 612.05 so far during the day. The stock had a 52-week high of Rs 765.95 on 4 December 2007 and a 52-week low of Rs 399 on 28 February 2007.
The mid-cap scrip had outperformed the market over the past one month till 12 February 2008, declining 6.55% compared to the Sensex`s decline of 19.88%. It had also outperformed the market in the past one quarter, gaining 7.71% compared to Sensex`s decline of 16.66%.
The company`s current equity is Rs 68.07 crore. Face value per share is Rs 10.
The current price of Rs 615 discounts its Q3 December 2007 annualized EPS of Rs 26.52, by a PE multiple of 23.19.
Mekorot is a leader in water resources management, desalination, wastewater treatment and effluent reuse, rain enhancement, water quality, water security and water project engineering.
Mekorot will contribute and provide design capabilities and technologies along with resources for implementation, management, operation and maintenance of such projects for this collaboration. While Jain Irrigation will contribute and provide the customer relationships, business development, management resources, and procurement of equipment and execution of facility/plant.
Jain Irrigation Systems` net profit rose 43.3% to Rs 44.85 crore on 36.2% growth in net sales to Rs 411.72 in Q3 December 2007 over Q3 December 2006.
Jain Irrigation Systems manufactures plastic pipes, micro-irrigation systems, plastic sheets, high-tech agriculture, processed fruits and vegetables.
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