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JMC Projects share price rises 13% after firm wins orders worth Rs 1,363 crore

JMC Projects stock opened with a gain of 10.22% at Rs 53.40 against previous close of Rs 48.45 on BSE

twitter-logoBusinessToday.In | August 12, 2020 | Updated 17:43 IST
JMC Projects share price rises 13% after firm wins orders worth Rs 1,363 crore
JMC Projects share touched an intraday high of Rs 55, a gain of 13.52% on BSE

Share price of JMC Projects rose 13 percent today after the company secured new orders worth Rs 1,363 crore. JMC Projects share touched an intraday high of Rs 55, a gain of 13.52% on BSE.

JMC Projects stock opened with a gain of 10.22% at Rs 53.40 against previous close of Rs 48.45 on BSE. The share stands higher than 5 day, 20 day, 50 day and 100 day moving averages but lower than 200 day moving averages.

In last one year, the share has lost 57.14% and fallen 48.27% since the beginning of this year. The microcap stock has gained 9.93% in 3 days.

The company said it won Rs 1,169-crore building projects order in southern India. In Bihar, it has won a water supply project of Rs 194 crore.

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CEO and Deputy Managing Director S K Tripathi said, "We are happy with the new order wins in the face of challenging market conditions." He added that the company is witnessing improvements in operations and expects execution to normalise at pre-coronavirus levels by the end of the second quarter of 2020-21.

Meanwhile, Sensex and Nifty ended lower after four sessions on Wednesday, on back of heavy selling pressure in pharma stocks. Sensex ended 37 points lower at 38,369 and NSE Nifty 50 closed 14 points lower at 11,308. On Tuesday, Sensex ended 244 points higher at 38,407 and Nifty closed 52 points higher at 11,322.

Share Market Highlights: Sensex ends 37 points lower, Nifty at 11,308; Dr Reddy, Sun Pharma top losers

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