CMI to supply wires to Indian Railways, inks Rs 107 cr contract

Cable manufacturer CMI Ltd Tuesday said it has bagged an Rs 107-crore contract from Indian Railways for the supply of cadmium catenary wire.

"CMI has secured L1 (lowest bidder) position for supply of cadmium catenary wire to East Coast Indian Railways for a value of Rs 106.64 crore. The tender was decided through a reverse auction process," the Delhi-based company said in a filing to BSE. The company is engaged in manufacturing cables for various industries such as railways, oil and gas, telecommunications, energy, industrial, power, petrochemicals, etc.

According to the company, its list of customers includes Indian Railways, various metro corporations, IOC, BPCL, GAIL, ISRO, BHEL, NTPC, BSNL, Visakhapatnam Steel Plant, among others. Shares of the company Tuesday closed 3.03 per cent up at Rs 180.45 apiece on BSE.