JMC Projects rallies 4% on Rs 596 crore orders

NEW DELHI: Shares of JMC Projects climbed nearly 4 per cent in Tuesday's trade after the EPC company secured orders worth Rs 596 crore in Orrisa and South India.

The company will work on residential and commercial projects in South India worth Rs 434 crore. Besides, it will undertake civil works for a steel plant in Orissa for Rs 162 crore.

The scrip rose 3.73 per cent to hit a high of Rs 90.25 on BSE.


"Most of these new orders are repeat orders from our existing clients. This reinstates that JMC continues to be a preferred partner by most of its clients. We remain confident of meeting our revenue and margin guidance for financial year 2018-19," CEO and Dy. Managing Director, SK Tripathi said.

The subsidiary of Kalpataru Power Transmission is engaged in construction of highways, expressways, bridges, flyovers, townships, high-rise buildings, hospitals, industrial units and power plants among others. Shares of Kalpataru Power edged 0.28 per cent higher.