JMC Projects bags NHAI orders worth Rs. 942 crore, stock up by 6 per cent

Construction company JMC Projects surged by over 6 per cent on the bourses on Tuesday as it bagged orders worth Rs. 942 crore from the National Highways Authority of India (NHAI). Following the development, the company hit an intraday high of Rs. 600 per share, up by 6.35 per cent on BSE on Tuesday.

The company had registered a robust growth of 28.91 per cent in its income from operations to Rs. 706.64 crore in the third quarter of the fiscal year 2018 as compared to the same quarter of the previous fiscal year.

The company’s net profit also recorded a growth of 30.40 per cent to Rs. 23.72 crore in the third quarter of the fiscal year 2018 as against Rs. 18.19 crore in the same quarter of the previous fiscal year.

JMC Projects has posted a surge of 112.33 per cent on the bourses in the last one year. The company had hit its 52-week high of Rs. 688 per share on January 11, 2018 and its 52-week low of Rs. 253 per share on May 23, 2017 on BSE, respectively.

At 11:52 hours IST, the company was trading at Rs. 598.05 per share, higher by 6.01 per cent on BSE. Meanwhile, the S&P BSE Sensex was trading at 33,212.74 level, down by 0.13 per cent and NSE Nifty50 was trading at 10,193.40 level, down by 0.18 per cent, respectively.