JMC Projects (India) surges after new orders win

JMC Projects (India) galloped 14.41% to Rs 228 at 14:31 IST on BSE after the company announced that it has recently secured new orders worth of Rs 702 crore.

The company made the announcement during market hours today, 16 September 2015.

Meanwhile, the S&P BSE Sensex was up 231.17 points or 0.9% at 25,937.10

On BSE, so far 48,000 shares were traded in the counter as against average daily volume of 3,869 shares in the past two weeks.

The stock hit a high of Rs 237.70 and a low of Rs 192.10 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 130 on 17 October 2014.

JMC Projects (India) said that the company has secured an order amounting to approximately Rs 199 crore for Bhagalpur water supply projects, an order worth Rs 181 crore for Karnataka State Highways improvement project, an order worth approximately Rs 170 crore for two building projects in Bangalore and an order worth approximately Rs 152 crore for building for Central University of Bihar at Gaya.

JMC Projects (India)'s CEO & Deputy Managing Director SK Tripathi said that the company is expanding its presence in infrastructure sector especially in water related projects.

JMC Projects (India)'s net profit jumped 47.8% to Rs 6.34 crore on 3.2% decline in net sales to Rs 582.70 crore in Q1 June 2015 over Q1 June 2014.

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

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