 "J Kumar Infra zooms 30% in two days on receiving Rs 13 bn order from NHAI")
Shares of J Kumar Infraprojects surged 10% to Rs 152 on Wednesday, extending its previous day's 20% rally on BSE, after the company said it has received an order worth Rs 13.49 billion from the National Highways Authority of India (NHAI).
“We are in receipt of Letter of Acceptance from NHAI in the name of J Kumar-J M Mhatre (JV), in which J Kumar is the leading partner for the construction of Dwarka Expressway from Shiv Murti Intersection at 20km of NH-8 till Rail Under Bridge (RUB) near Dwarka Sector-21 from 0.800km to 5.300km Package-1 in Delhi via the engineering, procurement, and construction (EPC) mode,” the company said in a press note to the exchanges on Tuesday after market hours.
The stock has recovered 35% from its 52-week low level of Rs 113 touched on Tuesday in intra-day trade. It touched a 52-week high of Rs 375 on February 14 this year.
At 09:25 am, J Kumar Infra was trading 6% higher at Rs 145 on BSE, as compared to a 0.33% rise in the S&P BSE Sensex. The trading volumes on the counter jumped more than three-fold with a combined 745,361 equity shares changed hands on the BSE and NSE so far.
“We are in receipt of Letter of Acceptance from NHAI in the name of J Kumar-J M Mhatre (JV), in which J Kumar is the leading partner for the construction of Dwarka Expressway from Shiv Murti Intersection at 20km of NH-8 till Rail Under Bridge (RUB) near Dwarka Sector-21 from 0.800km to 5.300km Package-1 in Delhi via the engineering, procurement, and construction (EPC) mode,” the company said in a press note to the exchanges on Tuesday after market hours.
The stock has recovered 35% from its 52-week low level of Rs 113 touched on Tuesday in intra-day trade. It touched a 52-week high of Rs 375 on February 14 this year.
At 09:25 am, J Kumar Infra was trading 6% higher at Rs 145 on BSE, as compared to a 0.33% rise in the S&P BSE Sensex. The trading volumes on the counter jumped more than three-fold with a combined 745,361 equity shares changed hands on the BSE and NSE so far.
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