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JMC Projects extends gain on order win of Rs 710 crore

The has moved higher to Rs 307, up 10%, extending its Monday's 3% gain on BSE.

SI Reporter  |  Mumbai 

Infrastructure

(India)  moved higher to Rs 307, up 10%, extending its Monday’s 3% gain on THE BSE, after the company said it has bagged an order amounting to Rs 710 crore.

The stock is quoting near  its 52-week high of Rs 309 touched on April 18, 2017. The trading volumes on the counter jumped multiple-fold with a combined 182,073 shares exchanging hands on BSE and NSE till 01:20 pm.

“The order includes two water pipeline projects in the state of Madhya Pradesh totaling Rs 257 crore,” JMC Projects, a civil engineering and EPC company said in a statement.

The second order for commercial projects in Bangalore and Chennai amounting of Rs 340 crore and one residential project in Chennai of Rs 115 crore, it added.

Meanwhile, the board of directors of on July 3, approved raising of funds by way of issue of secured/unsecured listed non-convertible debentures (NCDs) for an aggregate amount up to Rs 150 crore.
 

First Published: Tue, July 04 2017. 13:49 IST
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