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JMC Projects share price rises 20% intra day on receipt of orders worth Rs 1,059 crore

JMC Projects share price gained up to 20% intra day to Rs 132.1 compared to the previous close of Rs 110.20 on BSE. 

twitter-logo BusinessToday.In        Last Updated: October 23, 2019  | 16:52 IST
JMC Projects share price rises 20% intra day on receipt of orders worth Rs 1,059 crore
JMC Projects share price rises 20% intra day on receipt of orders worth Rs 1,059 crore

JMC Projects share price rose in trade today after the firm announced it secured orders worth Rs 1,059 crore. JMC Projects share price gained up to 20% intra day to Rs 132.1 compared to the previous close of Rs 110.20 on BSE. Later, the stock saw profit booking and closed 1.36% higher at Rs 111.70. The stock traded in a wide range of Rs 21.4 today.

The small cap stock has gained 40% in last one year and rose 28.39% since the beginning of this year.

The civil engineering and EPC company said its bagged Rs 782-crore orders for residential and commercial building projects in South and North India. It won another order worth Rs 277 crore for a water supply project in Jharkhand.

SK Tripathi and deputy managing director of the firm said, "We are happy with the new order wins in our focused businesses that is buildings and factory and water. The new order wins in the B&F business would help us to further strengthen our leadership position in the targeted markets. Our efforts on growing our water business are clearly paying off. Our strong order book and execution capabilities give us a good visibility on the revenue and profitability front for the coming quarters."

JMC Projects (India) Limited (JMC) is a subsidiary of Kalpataru Power Transmission Limited. The company has its corporate office in Mumbai and registered office in Ahmedabad.

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