Sierra Cables PLC announced to Colombo Stoke Exchange: The joint Venture agreement with Free Lanka Capital Holdings worth of Rs.250 Million. This investment will be in two hotel projects in the leisure sector.
Sierra Cables PLC recent announcements
In the recent period Sierra Cables PLC announced it’s willing to invest on the hydro sector and leisure sectors. And Sierra Cables PLC has signed a MOU to supply of 2000Km of Ariel Bundle Cables (ABC) for the Iranian Funded Rural Electrification Project (RE-8). The value of the Project is about approximately Rs. 1 Billion. Therefore the expectations from the Sierra Cables PLC increase from the investor point of views.
And the last year end 31st December 2010. The company says its amalgamation with Alucop Cables PLC [Fully Own Subsidiary].
Colombo Stoke Exchange and today reaction
Sierra Cables PLC today open the day for trading by Rs. 5.60 and lead all time highest of Rs. 6.20[ highest price till traded] and day closed by Rs. 5.90
Today Sierra Cables PLC record reasonable number of share traded as 24.333 Million.
As per the market trend, I expect it will reach a minimum of Rs. 7.50 within 2 weeks.