This BSE 500 construction company received letter of acceptance for a project worth Rs 655 crore!

Shares of the company have gained more than 2 per cent in today’s trade.

On March 1, 2023, KNR Constructions Limited in the exchange filling informed that the company received the letter of acceptance for the development of six-lane access controlled greenfield highway from Marripudi to Somvarappadu of Bengaluru-Vijayawada economic corridor on HAM Mode under Bharatmala Pariyojana Phase-1 in the state of Andhra Pradesh. The bid cost of the project was Rs 665 crore with a completion period of 24 months, and an operation period of 15 years.

 KNR Constructions Ltd, incorporated in 1995, is engaged primarily in infrastructure development with over two-and-a-half decades of experience executing the construction of technically complex and high-value projects such as expressways, national highways, flyovers, bridges and viaducts, irrigation projects such as dams, reservoirs and canals.

Today, the stock opened at Rs 263, with a high and low of Rs 266 and Rs 261.20. The stock previously closed at Rs 258.05. It closed trading at Rs 264.25, up by 2.40 per cent.  

In the last six months, the shares of the company have given more than 2.5 per cent returns and in the last one month, it has given about 2 per cent returns. 

The stock has a 52-week high of Rs 323.95 and a 52-week low of Rs 202.85. The company has a ROCE of 21.2 per cent and an ROE of 16.4 per cent with a market capitalisation of Rs 7,413 crore.