JMC Projects builds gains after securing orders

JMC Projects (India) rose 2.04% to Rs 265.40 at 10:34 IST on BSE after the company said it has secured new orders worth Rs 1058 crore.

The announcement was made after market hours yesterday, 30 March 2017.

Meanwhile, the S&P Sensex was down 29.15 points, or 0.1% at 29,618.27. The S&P BSE Small-Cap index was up 71.64 points, or 0.5% at 14,402.89.

On the BSE, 12,000 shares were traded on the counter so far as against the average daily volumes of 16,553 shares in the past one quarter. The stock had hit a high of Rs 270.40 and a low of Rs 264.90 so far during the day.

The stock had hit a 52-week high of Rs 288 on 25 July 2016 and a 52-week low of Rs 183 on 21 November 2016. The stock had outperformed the market over the past one month till 30 March 2017, advancing 18.12% compared with the Sensex's 3.15% rise. The scrip had also outperformed the market over the past one quarter advancing 17% as against the Sensex's 11.35% rise.

The small-cap company has equity capital of Rs 33.58 crore. Face value per share is Rs 10.

JMC Projects (India) said that the company has secured new orders worth Rs 1058 crore. These projects include a residential building project in Thane worth Rs 531 crore and two commercial building projects in Bangalore worth Rs 527 crore.

S K Tripathi CEO & Dy. Managing Director, JMC Projects (India) said that the repeat orders resulted into a strong order book. It provides a visibility of a healthy and profitable growth over next two years.

JMC Projects (India)'s net profit spurted 144.2% to Rs 18.19 crore on 4.8% decrease in net sales to Rs 548.14 crore in Q3 December 2016 over Q3 December 2015.

JMC Projects (India) is one of the leading civil engineering procurement constructions (EPC) company.

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