CMI Limited, the leading specialty cables company have been listed for National Stock Exchange
The company will be traded under normal market segment in compulsory demat form.
- (1888PressRelease) December 09, 2016 - The shares of CMI Limited, the BSE listed specialty cables manufacturing company have been listed for trading on the National Stock Exchange. It will be traded vide ISIN number INE981B01011 & symbol: CMICABLES under Normal Market segment (Rolling Settlement) in compulsory demat form for all investors.
Mr. Amit Jain, CMD, CMI Limited said "The listing on NSE will provide additional liquidity to retail investors and will lead to better price discovery for the shares of CMI. Institutional investors, who are at times wary of investing in shares listed only on BSE due to liquidity concerns, will now have the additional comfort of CMI shares being listed on NSE while making investment decisions."
CMI Limited has been growing at a healthy pace over the last 2-3 years and is expected to benefit immensely from the growth in infrastructure spending from the Government particularly in Railways and Power. The company has also undertaken a major expansion in its production capacity as well as product portfolio by acquiring the Indian operations of General Cable Corporation, a Fortune 500 company.
About CMI Limited:
CMI is a BSE listed, specialty cables company (BSE Scrip Code: 517330). CMI closed the year 2015-16 with revenues of Rs. 24170.54 Lakh.
CMI Limited, incorporated in 1967, commenced business in 1969 as a copper trading company and in early seventies started wire drawing of non-ferrous metals especially copper. In 1980, CMI diversified its activities by setting up facilities for the manufacture of Dry Core Telecommunication Cables. CMI slowly shifted emphasis from copper trading to cable manufacture, where value addition was higher. With the aid of its in-house research and development, the company started the manufacture of Fire Resistant Low Smoke Cables, Instrumentation cables, Control cables and in 1990, commenced the production of JFTC.
CMI focus is currently on new product development with the emphasis on latest technologies at its facilities. CMI's original facility is located at Faridabad in Haryana. CMI began the Commercial Production at its new facility at Baddi, Himachal Pradesh in April 2016, which was a part of its acquisition of General Cable Energy Private Limited from fortune 500 Company, General Cable Corporation. It is India's first green factory in the segment.
Today, CMI manufactures a wide variety of cables for infrastructure, Railways, Oil & Refinery industries, Engineering Companies, EPCC contractors, and the like. CMI's satisfied customers include Railways & its subsidiaries like IRCON. RITES, MRVC, Konkan Railways, DLW, DMRC & other metros; Oil & Refinery industries like IOCL, BPCL, BORL, GAIL, MRPL, HPCL, ONGC; Leading Government companies like EIL, ISRO, BHEL, NLC, NTPC, NPC, BSNL / MTNL and HEC; Private Sector EPCC companies like L&T, Alstom, Siemens, Hitachi, Linde, Thales, Lurgi, Technip and ABB; Steel plants like Vishakhapatnam Steel Plant, Bhushan Power & Steel, etc. CMI has also exported cables to Sri Lanka, Bangladesh & Iran Railways.
CMI is now manufacturing wide variety of cables including Railway Quad cables, Signaling cables, Ballise cable for Train protection & warning system, Fire survival cables, LSZH / FRLS sheathed cables, Control & instrumentation cables, Cables with TPU sheath, PTFE cables, Special cables for multi object tracking radar, Fire alarm & communication cables, PIJF telecom cables, EPR/CSP/PCP insulated & sheathed Rubber cables, Linear Heat sensing cables, etc.
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