JKumar Infraprojects slumps after BMC probe on road construction in Mumbai

NEW DELHI: Shares of JKumar Infraprojects slumped 11 per cent after the company was named as one among six recommended for blacklisting by an inquiry panel of Bombay Municipal Corporations.

“The BMC's preliminary road inquiry report has found 53 per cent deficiency in 34 road projects implemented by private contractors. It suggests six contractors should be blacklisted and police cases filed against them for malpractice,” a TOI report said.

The BMC in a latest report found six contractors of which JKumar Infraprojects is one, to be guilty of malpractices in carrying out road projects in the city.

Reacting to the report, the scrip tumbled 11 per cent to hit a low of Rs 252 on the BSE.