JMC Projects rallies 11% on Rs 930 crore order
The stock surged 10.64 per cent to hit a high of Rs 223.50 on BSE. Yet, the stock is trading nearly 21 per cent lower than its 52-week high of Rs 282.12 it hit in July last year.
By ET Online | Updated:
NEW DELHI: JMC Projects (India) closed higher by 7.28 per cent in trade on Tuesday after the company informed the stock exchanges that that it has recently bagged new orders worth over Rs 930 crore.
The stock surged 10.64 per cent to hit a high of Rs 223.50 on BSE. Yet, the stock is trading nearly 21 per cent lower than its 52-week high of Rs 282.12 it hit in July last year.
The Kalpataru group company said it has received road engineering, procurement & construction (EPC) project in Ethiopia worth Rs 465 crore and a retail mall project in Bangalore of Mantri Developers worth Rs 235 crore.
The said construction & engineering company also secured an area infrastructure development project worth Rs 169 crore from Naya Raipur Development Authority and a building project in Bangalore worth Rs 62 crore, the company said in a regulatory filing.
“We have penetrated in our existing international market by securing repeat road EPC project in Ethiopia, now we are actively looking for few more geographies under the infrastructure segment," said S K Tripathi CEO & Deputy Managing Director at JMC Projects.
The company has reported a 3.17 per cent YoY rise in standalone sales to Rs 571.40 crore in the December quarter, compared with Rs 553.87 crore in the year-ago quarter. The net profit after tax for the December quarter stood at Rs. 6.52 crore, up 41 per cent YoY.
The stock surged 10.64 per cent to hit a high of Rs 223.50 on BSE. Yet, the stock is trading nearly 21 per cent lower than its 52-week high of Rs 282.12 it hit in July last year.
The Kalpataru group company said it has received road engineering, procurement & construction (EPC) project in Ethiopia worth Rs 465 crore and a retail mall project in Bangalore of Mantri Developers worth Rs 235 crore.
The said construction & engineering company also secured an area infrastructure development project worth Rs 169 crore from Naya Raipur Development Authority and a building project in Bangalore worth Rs 62 crore, the company said in a regulatory filing.
“We have penetrated in our existing international market by securing repeat road EPC project in Ethiopia, now we are actively looking for few more geographies under the infrastructure segment," said S K Tripathi CEO & Deputy Managing Director at JMC Projects.
The company has reported a 3.17 per cent YoY rise in standalone sales to Rs 571.40 crore in the December quarter, compared with Rs 553.87 crore in the year-ago quarter. The net profit after tax for the December quarter stood at Rs. 6.52 crore, up 41 per cent YoY.
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