KNR Constructions gains after new order win

KNR Constructions rose 2.78% to Rs 529.30 at 12:21 IST on BSE after the company secured order worth Rs 414.90 crore from Ministry of Road Transport and Highways.

The announcement was made after market hours yesterday, 24 May 2016.

Meanwhile, the BSE Sensex was up 183.47 points, or 0.71%, to 26,064.64

On BSE, so far 3,137 shares were traded in the counter, compared with an average volume of 3,037 shares in the past one quarter. The stock hit a high of Rs 576.90 and a low of Rs 522.40 so far during the day. The stock hit a record high of Rs 651.75 on 19 November 2015. The stock hit a 52-week low of Rs 408 on 12 February 2016. The stock had underperformed the market over the past one month till 25 May 2016, falling 6.49% compared with 0.79% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, gaining 14.9% as against Sensex's 12.64% rise.

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

KNR Constructions announced that the company was awarded by the Chief Engineer (NHDP IV), Ministry of Road Transport & Highways, New Delhi, an order worth of Rs 414.90 crore towards rehabilitation and up-gradation of Dindigul - Bangalore road to four lane with paved shoulder in Tamil Nadu on engineering, procurement and construction basis to be completed within a period of 24 months from the appointed date.

KNR Constructions' net profit rose 120.4% to Rs 32.80 crore on 2.1% rise in total income to Rs 220.19 crore in Q3 December 2015 over Q3 December 2014.

KNR Constructions is an infrastructure development company providing engineering, procurement and construction services.

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