KNR Constructions scales record high

KNR Constructions surged 7.76% to Rs 690.45 at 12:50 IST on BSE, with the stock extending previous session's gains triggered by the company posting robust Q1 results.

Meanwhile, the S&P BSE Sensex was up 83.56 points or 0.28% at 28,141.81.

On BSE, so far 16,097 shares were traded in the counter as against average daily volume of 14,923 shares in the past one quarter. The stock hit a high of Rs 725.90, so far during the day, which is a record high for the stock. The stock hit a low of Rs 640 so far during the day. The stock had hit a 52-week low of Rs 408 on 12 February 2016. The stock had outperformed the market over the past one month till 16 August 2016, rising 12.91% compared with 0.82% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 21.75% as against the Sensex's 9.4% rise.

The mid-cap company has equity capital of Rs 28.17 crore. Face value per share is Rs 10.

Shares of KNR Constructions rose 2.97% to Rs 640.70 yesterday, 16 August 2016 after the company announced strong Q1 results. The company's net profit jumped 86.6% to Rs 30.21 crore on 73.9% growth in net sales to Rs 303.64 crore in Q1 June 2016 over Q1 June 2015. The result was announced on Sunday, 14 August 2016. The stock market remained closed on 15 August 2016, for a holiday.

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

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