JMC Projects (India) spurts on winning orders

JMC Projects (India) rose 4.67% to Rs 549.50 at 14:28 IST on BSE after the company said it has secured new orders of Rs 1966 crore.

The announcement was made before trading hours today, 26 June 2018.

Meanwhile, the S&P BSE Sensex was up 86.03 points, or 0.24% to 35,556.38.

On the BSE, 10,000 shares were traded in the counter so far compared with average daily volumes of 1,987 shares in the past two weeks. The stock had hit a high of Rs 579 and a low of Rs 528 so far during the day. The stock hit a record high of Rs 710 on 29 May 2018. The stock hit a 52-week low of Rs 268 on 30 June 2017.

JMC Projects (India) (JMC)-led consortium has secured two turnkey projects under micro lift irrigation scheme worth Rs 2650 crore from Narmada Valley Development Authority (NVDA) in Madhya Pradesh. The share of JMC in these projects is around Rs 1600 crore.

Further, the company has secured an order for construction of township for National Mineral Development Corporation (NMDC) for approximately Rs 366 crore in Chhattisgarh.

JMC Projects (India)'s net profit surged 110.4% to Rs 34.28 crore on 4.7% increase in net sales to Rs 723.04 crore in Q4 March 2018 over Q4 March 2017.

JMC Projects (India) is a civil engineering and EPC company.

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