Signet Industries secures major micro-irrigation project in Andhra Pradesh, stocks surge
Signet Industries Limited announced today has been allocated 20,000 hectares of land for installing micro-irrigation systems on farmers’ fields by the Andhra Pradesh Micro Irrigation Project (APMIP).
The shares of Signet Industries Limited were trading at ₹87.68 up by ₹13.80 or 18.68 per cent on the NSE today at 2.30 pm.
The project is expected to generate approximately ₹150 crores in revenue for Signet Industries. The company stated that its team is working to expedite the process and ensure timely execution of the project.
This initiative aims to enhance agricultural efficiency and sustainability in the region. Signet Industries specializes in irrigation solutions and is headquartered in Madhya Pradesh, India.
The announcement comes as part of the company’s ongoing efforts to expand its presence in the micro-irrigation sector and contribute to agricultural development in India.