JMC Projects (India) surges after large order win

JMC Projects (India) jumped 6.87% to Rs 252 at 12:06 IST on BSE after the company announced that it has recently secured new orders worth Rs 1050 crore.

The company made the announcement during market hours today, 17 December 2015.

Meanwhile, the S&P BSE Sensex was down 26.38 points or 0.1% at 25,467.99

On BSE, so far 11,595 shares were traded in the counter as against average daily volume of 26,583 shares in the past one quarter.

The stock hit a high of Rs 261.60 and a low of Rs 238.50 so far during the day. The stock had hit a 52-week high of Rs 294.80 on 28 July 2015. The stock had hit a 52-week low of Rs 157 on 17 December 2014.

The stock had outperformed the market over the past one month till 16 December 2015, rising 5.08% compared with Sensex's 1.03% fall. The scrip had also outperformed the market in past one quarter, gaining 3.47% as against Sensex's 1.81% fall.

The company has an equity capital of Rs 26.12 crore. Face value per share is Rs 10.

JMC Projects (India) said that the first order is for five building projects in Bangalore worth approximately Rs 794 crore. The company has also bagged a building project in Hyderabad worth approximately Rs 110 crore and a flyover project in Bhiwandi from MMRDA worth approximately Rs 150 crore.

JMC Projects (India)'s net profit jumped 121.2% to Rs 9.58 crore on 3.5% rise in net sales to Rs 601.93 crore in Q2 September 2015 over Q2 September 2014.

JMC Projects (India), a subsidiary of Kalpataru Power Transmission, is India's leading contracting company.

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