JMC Projects (India) shoots up after good Q2 results

JMC Projects (India) jumped 10.50% to Rs 116.25 after consolidated net profit soared 39.78% to Rs 14.44 crore on 27.19% surge in net sales to Rs 976.64 crore in Q2 September 2019 over Q2 September 2018.

The result was announced during market hours today, 5 November 2019.

Meanwhile, the S&P BSE Sensex was down 68 points or 0.17% to 40,233.73.

From 1 April 2019, the group adopted AS 116 - leases and applied it to the lease contracts existing on 1 April 2019 using the modified retrospective method and the impact to retained earnings tantamounting to Rs 1.49 crore.

On the BSE, 24,393 shares were traded in the counter so far compared with average daily volumes of 8,955 shares in the past two weeks. The stock hit an intraday high of Rs 117 and an intraday low of Rs 104.90 so far during the day.

The stock hit a 52-week high of Rs 150 on 27 May 2019. The stock hit a 52-week low of Rs 76 on 11 December 2018.

JMC Projects (India) is an engineering and construction services company. The firm is engaged in the construction of buildings and others.

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