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Signet Industries Limited announces receipt of orders worth Rs. 190 crores

Posted On: 2019-06-26 17:59:09

Signet Industries Limited, a diversified company engaged in manufacturing of plastic products and wholesale trade of chemicals and plastics, announced that it has received orders worth Rs. 190 crores recently from L&T Limited, Tata Projects Limited and GA Infra Pvt. Limited.

These orders are for high pressure pipelines and uPVC pipelines to be used in various infrastructure projects in the States of Madhya Pradesh, and Rajasthan. Supplies for some orders have started and the company shall complete the orders well within contracted time period.

Commenting on the acquisition, Mr. Mukesh Sangla, Chairman and Managing Director of Signet Industries Limited said "We are pleased to announce the receipt of orders worth Rs.190 crores from companies like L&T Limited, Tata Projects Limited and GA Infra Pvt. Limited. We have already dispatched few orders and are committed to complete the remaining orders with the stipulated period. We are witnessing improving demand environment for the products that we cater and as such remain confident of positive performance going forward."

He further added "We continue to focus on improving our execution capabilities and remain optimistic on the long-term prospects of the Company."

Shares of Signet Industries Limited was last trading in BSE at Rs.29.6 as compared to the previous close of Rs. 28.8. The total number of shares traded during the day was 40550 in over 239 trades.

The stock hit an intraday high of Rs. 33.75 and intraday low of 27.9. The net turnover during the day was Rs. 1195383.


Source: Equity Bulls

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