Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Jain Irrigation Climbs on Plan to Sell India Assets to Cut Debt

July 11 (Bloomberg) -- Jain Irrigation Systems Ltd., Asia’s largest irrigation-equipment maker, rose the most in five weeks after announcing plans to sell wind-farm assets to reduce debt.

Jain, whose drip and sprinkler systems help farmers irrigate more land with less water, is in talks with a potential buyer and expects to close the deal in August, helping shrink foreign currency debt by $10.5 million, it said.

The shares rose 3.7 percent, the most since June 3, after the company said it’s seeking shareholder approval for the plan to sell 13.2 megawatts of wind projects built in 2009 in the southern Indian state of Tamil Nadu. The gain trimmed the stock’s loss over the past year to 40 percent.

Link to Company News:{JI IN <Equity> CN <GO>}

To contact the reporter on this story: Natalie Obiko Pearson in Mumbai at npearson7@bloomberg.net

To contact the editor responsible for this story: Randall Hackley at rhackley@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.