KNR Constructions gains after bagging a large highway contract

KNR Constructions rose 4.01% to Rs 456 at 11:00 IST on BSE after the company said it has received orders worth of Rs 937.08 crore.

The company made the announcement after market hours on Friday, 17 April 2015,

Meanwhile, the BSE Sensex was down 181.39 points, or 0.65%, to 28,258.22.

On BSE, so far 13,455 shares were traded in the counter, compared with an average volume of 29,525 shares in the past one quarter.

The stock hit a high of Rs 468.70 and a low of Rs 453.10 so far during the day. The stock had hit a record high of Rs 484.50 on 11 March 2015. The stock had hit a 52-week low of Rs 94.65 on 28 April 2014.

The stock had outperformed the market over the past one month till 17 April 2015, rising 2.12% compared with 1.02% fall in the Sensex. The scrip had also outperformed the market in past one quarter, jumping 24.61% as against Sensex's 1.14% rise.

The mid-cap company has an equity capital of Rs 28.12 crore. Face value per share is Rs 10.

KNR Constructions announced that the company has been awarded by National Highway Authority of India, an orders worth of Rs 937.08 crore towards improvement/ augmentation of four laning from Km 5.000 to Km 79.340 (Existing Chainage) [Design Chainage Km 5.000 to Km 81.000] and two laning with paved shoulders from Km 79.340 to Km 118.795 (Existing Chainage) [Design Chainage Km 81 to Km 120] of Madurai Ramanathapuram Section of NH-49 [total design length 115 Km] in the State of Tamil Nadu. The contract is awarded under NHDP Phase-III on engineering, procurement and construction (EPC) mode and has to be completed within a period of 30 months from the appointed date.

KNR Constructions' net profit rose 10.5% to Rs 14.88 crore on 2.3% rise in total income to Rs 215.57 crore in Q3 December 2014 over Q3 December 2013.

KNR Constructions is a multi domain infrastructure development organization.

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