CMI jumps on getting vendor approval from various companies

CMI scrip is currently trading at Rs. 159.00, up by 10.30 points or 6.93% from its previous closing of Rs. 148.70 on the BSE.

The scrip opened at Rs. 155.00 and has touched a high and low of Rs. 162.05 and Rs. 152.50 respectively. So far 4147 shares were traded on the counter.

The BSE group ‘B’ stock of face value Rs. 10 has touched a 52 week high of Rs. 371.60 on 27-Apr-2018 and a 52 week low of Rs. 115.50 on 11-Oct-2018.

Last one week high and low of the scrip stood at Rs. 161.75 and Rs. 141.45 respectively. The current market cap of the company is Rs. 223.46 crore.

The promoters holding in the company stood at 43.55%, while Institutions and Non-Institutions held 16.15% and 40.30% respectively.

CMI has been included as vendor with few prestigious companies in the 3rd quarter ending December 2018. The company has received vendor approval for manufacturing & supply of XLPE/PVC Power Cable and PVC insulated Control Cable for Power Grid Projects and for manufacturing of Power cables, control cables, telephone cables and Optical fibre cables from Airport Authority of India.

It also got vendor approval for electrical Power cables from Mazagaon Dock Shipbuilders and for all type of cables from Jawahar lal Nehru Port trust. Besides, with the increased list of Vendor approval the Manufacturing capacity of Baddi plant is going to improve considerably in the year 2019.

CMI is a supplier of cable accessories, cables, conductor cables, electric cable accessories, equipment, and machinery.

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