J Kumar Infra gains after receiving LoA for construction projects

J Kumar Infraprojects rose 1.76% to Rs 283.30 at 11:09 IST on BSE after the company said it received letter of acceptance from Maharashtra Metro Rail Corporation and MMRDA for construction projects worth Rs 445 crore.

The announcement was made after market hours yesterday, 3 May 2018.

Meanwhile, the S&P BSE Sensex was down 125.02 points, or 0.36% to 34,978.12.

On the BSE, 4,231 shares were traded in the counter so far compared with average daily volumes of 19,000 shares in the past two weeks. The stock had hit a high of Rs 285 and a low of Rs 282 so far during the day. The stock hit a 52-week high of Rs 375 on 14 February 2018. The stock hit a 52-week low of Rs 181.60 on 14 August 2017.

J Kumar Infraprojects said it received Letter of Acceptance (LoA) from Maharashtra Metro Rail Corporation (Pune Metro Rail Project) for construction of underground shafts for tunneling of Agricultural College and Swargate Metro Station and Multi Model Integration at Sargate metro Station and R&R facilities for an amount of Rs 222.33 crore. Further, the company received LoA for improvement of Chheda Nagar Junction, Ghatkopar (East) on Eastern Express highway from Mumbai Metropolitan Regional Development Authority (MMRDA) for an amount of Rs 223.85 crore.

Net profit of J Kumar Infraprojects rose 24.04% to Rs 32.92 crore on 23.88% rise in net sales to Rs 457.17 crore in Q3 December 2017 over Q3 December 2016.

J Kumar Infraprojects is engaged in construction activities.

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