JMC Projects surges after new order win

JMC Projects (India) advanced 5.32% to Rs 561.50 at 14:25 IST on BSE after the company said it has secured new orders of Rs 634 crore.

The announcement was made during market hours today, 27 March 2018.

Meanwhile, the S&P BSE Sensex was up 191.42 points or 0.58% at 33,257.83. The S&P BSE Small-Cap index was up 264.92 points or 1.57% to 17,188.29.

On the BSE, 1,627 shares were traded on the counter so far as against average daily volumes of 2,994 shares in the past two weeks. The stock had hit a high of Rs 565.95 and a low of Rs 546.95 so far during the day. The stock had hit a record high of Rs 688 on 11 January 2018 and a 52-week low of Rs 242.40 on 29 March 2017.

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 of Rs 634 crore. One order is for residential and commercial projects in South India totalling Rs 509 crore. Another order is for construction of office complex for Karnataka Power Transmission Corporation, Bangalore for Rs 125 crore.

S. K. Tripathi, CEO & Dy. Managing Director, JMC Projects (India) said that order inflows for this financial year have crossed Rs 3300 crore, which is as per the guidance for order inflow of 2017- 18.

Net profit of JMC Projects (India) rose 30.4% to Rs 23.72 crore on 28.92% rise in net sales to Rs 706.64 crore in Q3 December 2017 over Q3 December 2016.

JMC Projects (India) is a leading engineering, procurement and construction (EPC) company. The company provides services across the construction sector i.e. civil, structural & MEP for all major industries and project types.

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