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JMC Projects spurts on winning orders

Capital Market 

JMC Projects (India) gained 3.48% to Rs 55 after the EPC company bagged multiple orders of about Rs 1342 crore.

JMC Projects (India) in a filing made before market hours today announced it has won a Rs 725 crore order from East Asia for infrastructure project. The company also bagged water supply projects in Odisha totalling Rs 471 crore and building project in North India of Rs 146 crore.

Commenting on securing new orders, S. K. Tripathi, CEO said the company is confident that its strategy to diversify in the international markets will open up a huge opportunity going forward. In the current year, JMC Projects (India) has received orders exceeding Rs 5,300 crore against the initial guidance of Rs 5,000 crore, accordingly based on current prospects, the company is revising order inflow target to Rs 7,500 crore for 2020-21.

The stock is up 86.44% from its 52-week low of Rs 29.50 hit on 26 March 2020. The counter hit a 52-week high of Rs 132.10 on 23 October 2019.

JMC Projects (India), a subsidiary of Kalpataru Power Transmission, is a leading civil engineering and EPC company.

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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: Thu, September 17 2020. 09:15 IST