KNR Constructions jumps after winning orders

KNR Constructions rose 5.41% to Rs 463.80 at 10:05 IST on BSE after the company said it bagged three state highway road upgradation contracts in Tamil Nadu together worth Rs 729.05 crore.

The announcement was made after trading hours on Monday, 13 April 2015. The stock market was shut yesterday, 14 April 2015, on account of Dr. Baba Saheb Ambedkar Jayanti.

Meanwhile, the BSE Sensex was down 65.37 points, or 0.23%, to 28,979.07.

On BSE, so far 15,000 shares were traded in the counter, compared with an average volume of 29,046 shares in the past one quarter.

The stock hit a high of Rs 474 and a low of Rs 458 so far during the day. The stock hit a record high of Rs 484.50 on 11 March 2015. The stock hit a 52-week low of Rs 94.65 on 28 April 2014.

The stock had underperformed the market over the past one month till 13 April 2015, falling 2.74% compared with 1.90% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 24.82% as against Sensex's 5.90% rise.

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

KNR Constructions said that the Project Director of Tamil Nadu Road Sector, Project II, Chennai has awarded these three contracts.

These include upgrading Kanchipuram-Vandavasi Road, a state highway, and related packages all worth Rs 184.97 crore.

The second order relates to upgradation of Arcot Villipuram Road, a state highway project, worth Rs 320 crore and upgradation of Malliyakarai-Rasipuram-Thiruchengode-Erode Road, a state highway project package, worth Rs 224 crore.

These three road projects are to be executed within 36 months to 42 months from the appointed date.

Net profit of KNR Constructions rose 10.55% to Rs 14.88 crore on 2.59% rise in net sales to Rs 213.16 crore in Q3 December 2014 over Q3 December 2013.

KNR Constructions is an infrastructure development company executing projects across segments such as express ways, national highways, state highways & rural roads.

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