KNR Constructions sizzles after new order win

KNR Constructions rose 3% to Rs 276 at 9:20 IST on the BSE after the company received a work order worth Rs 847.34 crore from Navayuga Engineering Company.

The announcement was made after market hours, yesterday, 16 July 2019.

Meanwhile, the S&P BSE Sensex was up by 30.4 points, or 0.08% to 39,161.29.

On the BSE, 4790 shares were traded in the counter so far compared with average daily volumes of 1977 shares in the past two weeks. The stock had hit a high of Rs 279.35 and a low of Rs 274.55 so far during the day. It hit a 52-week high of Rs 303.30 on 28 May 2019 and a 52-week low of Rs 163.30 on 11 October 2018.

KNR Constructions said that the company has won an order of Rs 847.34 crore from Navayuga Engineering Company, Hyderabad on back to back basis for the balance work of Palamuru Rangareddy Lift Irrigation Scheme - Package 10 for the formation of Venkatadri reservoir bund from Km 6.900 to Km 11.550 at Vattem (V), Bijinepally (M), Nagarkurnool District.

The company's net profit increased 15.56% to Rs 92.15 crore on a 14.63% rise in net sales to Rs 715.71 crore in Q4 March 2019 over Q4 March 2018.

KNR Constructions is primarily engaged in the construction of roads, bridges, flyovers and irrigation projects.

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