KNR Constructions gains 8.39% in two days on new order win

KNR Constructions gained 3.25% to Rs 235 at 09:50 IST on BSE, with the stock extending Friday's 4.98% gain triggered by announcing new order win.

Meanwhile, the S&P BSE Sensex was up 125.93 points or 0.48% at 26,545.48

On BSE, so far 1,991 shares were traded in the counter as against average daily volume of 46,687 shares in the past one quarter.

The stock hit a high of Rs 238 and low of Rs 227.60 so far during the day. The stock had hit record high of Rs 265.45 on 7 August 2014. The stock had hit a 52-week low of Rs 46.40 on 1 October 2013.

Shares of KNR Constructions gained 8.39% in two trading days from Rs 216.80 on 21 August 2014 after the company said it has bagged orders worth Rs 68.37 crore from the Government of Karnataka. The announcement was made after market hours on Thursday, 21 August 2014. The stock gained by maximum permissible level of 5% to Rs 227.60 on Friday, 22 August 2014.

KNR Constructions' net profit jumped 78.4% to Rs 19.80 crore on 14.4% growth in net sales to Rs 236.44 crore in Q1 June 2014 over Q1 June 2013.

KNR Constructions is an infrastructure development company providing engineering, procurement and construction services across various fast growing sectors such as roads and highways, irrigation and urban water infrastructure management.

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