Cords Cable Industries wins order worth Rs 22 crore

Cords Cable Industries announced on Friday that it had been awarded an order for around Rs 22 crore from an Indian arm of a Taiwan-based Engineering, Procurement and Construction (EPC) services major. The order scheduled to be executed by April 30, 2020, is mainly for the supply of instrument cables and wires to Liquefied Natural Gas (LNG) project in the state of Odisha.

The company had recently received an approval from an Indian arm of a Japanese engineering consultancy and contracting major as well, enabling it to participate in future bids where cables supplied by the company will have applications at various industrial facilities including oil and gas processing, refineries, petrochemicals, fertilisers, cryogenics, power, water, infrastructure and industrial solutions.

Cords stated through a press release that the orders from international entities showcased the company's strong brand equity in the international and domestic market. The company has been able to constantly add orders from prestigious clients and is confident to continue the growth momentum in the future as well.

Cords Cable Industries Limited, which manufactures cables and wires, is the largest instrumentation cable maker in India and its manufacturing plant is located in Alwar (Rajasthan).

At 12:45 pm on Friday, the stock is trading at Rs 48.70, up by 4.96 per cent or Rs 2.30 per share. The 52-week high is recorded at Rs 70 and the 52-week low is Rs 35.15 on BSE.