KNR Constructions hits record high

KNR Constructions jumped 4.67% to Rs 600 at 10:25 IST on BSE after the company said that it was awarded an order worth Rs 255.60 crore by Madhya Pradesh Road Development Corporation.

The company made announcement after trading hours yesterday, 8 July 2015.

Meanwhile, the S&P BSE Sensex was down 35.54 points or 0.09% at 27,663.01.

On BSE, so far 4,498 shares were traded in the counter as against average daily volume of 8,722 shares in the past one quarter.

The mid-cap stock hit a high of Rs 617.50, also a record high for the stock. The stock hit a low of Rs 587 so far during the day. The stock hit a 52-week low of Rs 200 on 15 July 2014.

KNR Constructions said that it was awarded an order from Madhya Pradesh Road Development Corporation (MPRDC), worth Rs 255.60 crore towards widening and reconstruction of Mohanpur Behat Mau (MDR-01-01) and Behat Mau (MDR-02-03), Murar Chitora (MDR-01-08) Murar Chitora (MDR-02-08) & Gatha Amayan (MDR-02-06), Mohana Pohri (MDR-07-06) roads, package-L under Madhya Pradesh District Connectivity Sector Project (MPDCSP) on item rate basis to be completed within a period of 24 months from the appointed date.

KNR Constructions (KNRCL)'s net profit fell 12.9% to Rs 24.39 crore on 3.7% decline in total income to Rs 261.06 crore in Q4 March 2015 over Q4 March 2014.

KNRCL is a multi domain infrastructure development organization with more than 2 decades of experience and executes the construction of technically complex and high value projects across segments such as express ways, national highways and state highways & rural roads.

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