Stock Picking - Art Or Science

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Wednesday, March 22, 2006

Jain Irrigation - Sprinkling Elixir

Jain Irrigation - Profit With Water Sprinklers

Jain Irrigation Systems Ltd. announced on Tuesday that the company, along with two other local companies, have been empanelled by the Government of Tamil Nadu for supply of drip and sprinkler irrigation systems for the year 2005-06 and 2006-07. This empanelment would enable the company to participate in a major way in the proposed centrally sponsored as well as state sponsored schemes, which envisage covering over 30,000 hectares in a year's time at an investment of about Rs1.2bn. The company has been selected from among 16 entities that had applied in response to an Expression of Interest called for late last year, Jain Irrigation said.

The recent acquisition of Terra Agro Technologies Ltd., at Udumalpet, Tamil Nadu augurs well with this empanelment, Jain Irrigation said. The empanelment is set to propel the company many notches ahead of competition besides marking Tamil Nadu in the Micro Irrigation map of the country, it added.

Besides being pioneer for drip irrigation, the company is already playing a leading role in the state sponsored Micro Irrigation Scheme in Andhra Pradesh, Gujarat and Maharashtra, Jain Irrigation said. With the addition of Tamil Nadu and expected addition of other states next fiscal year, this division is set for very exciting growth in the coming year, it added.

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