KNR Constructions hits record high

KNR Constructions rose 3.17% to Rs 323.40 at 13:45 IST on BSE after the company said its 51:49 joint venture with Tomar Builders & Construction secured orders worth Rs 109.56 crore in Madhya Pradesh.

The announcement was made during market hours today, 24 November 2014.

Meanwhile, the S&P BSE Sensex was up 142.87 points or 0.5% at 28,477.50.

On BSE, so far 57,000 shares were traded in the counter as against average daily volume of 24,955 shares in the past one quarter.

The stock hit a high of Rs 334 so far during the day, which is a record high for the counter. The stock hit a low of Rs 316 so far during the day. The stock had hit a low of Rs 68.50 on 4 December 2013.

The stock had outperformed the market over the past one month till 21 November 2014, surging 14.5% compared with the Sensex's 6.62% rise. The stock had also outperformed the market in past one quarter, jumping 44.58% as against Sensex's 7.49% rise.

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

KNR Constructions' net profit jumped 65.9% to Rs 13.95 crore on 8.4% growth in net sales to Rs 170.21 crore in Q2 September 2014 over Q2 September 2013.

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

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