JNK India shares close at 10% upper circuit on fresh contract win, check details

Shares of JNK India Limited, a prominent manufacturer of heating equipment for process industries, closed at an upper circuit of 10% on Monday said it has received an ultra-mega order exceeding ₹1,000 crore from its Korean promoter, JNK Global Co., Ltd. JNK India shares ended at ₹305.45 on the BSE, marking an increase of ₹27.75 or 9.99% from the previous close of Rs 277.70 on BSE. Market cap of the firm stood at Rs 1,709.111 crore. 

The company said that the contract comprises support services and supplies for the cracker furnace package of a refinery project in India, with the scheduled completion date set for 2 February 2028.

"Heating equipment maker JNK India Limited on Monday (October 6) said it has received an ultra-mega order from JNK Global Co., Ltd., Korea, for providing support services and supplies for the cracker furnace package of a refinery project in India."

The company disclosed the development to the stock exchanges on October 6, 2025.

JNK India holds an estimated 27% market share in the domestic heater segment by new order bookings for the financial year 2023. The company covers the entire value chain from design to installation for both domestic and international clients.

JNK India confirmed that the order falls within related party transactions and has been undertaken on an arm’s length basis.

The contract, awarded by JNK Global, is classified as an ultra-mega order and falls under related party transactions, which the company clarified were conducted at arm’s length.

JNK India highlighted the absence of any conflict of interest and noted the order will be executed in India. The latest win is expected to further strengthen JNK India’s position in the refinery equipment and furnace solutions segment, reflecting its ongoing collaboration with its Korean promoter.

The company stated that there is no potential conflict of interest arising from this transaction.