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J. Kumar Infra rallies on bagging LoA from GMRC

Capital Market 

J. Kumar Infraprojects jumped 3.83% to Rs 150.40 after the construction company received a letter of acceptance (LoA) from Gujarat Metro Rail Corporation (GMRC).

The contracy is for design, construction and completion of underground stations and tunnel from Surat Railway station to Chowk Bazar Ramp worth Rs 866 crore. The announcement was made during trading hours today, 11 January 2021.

J. Kumar Infraprojects' net profit tumbled 87.3% to Rs 7.11 crore on a 24.5% decline in net sales to Rs 477.39 crore in Q2 September 2020 over Q2 September 2019.

J Kumar Infraprojects is a construction company based in Mumbai.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Mon, January 11 2021. 15:20 IST