JMC Projects surges 16% on winning new orders worth Rs 1,795 crore

Stocks

The stock touched a 52-week high of Rs 130 and a 52-week low of Rs 57 on 30 July, 2021 and 22 December, 2020, respectively.

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JMC Projects (India) shares surged 16 percent in early trade on December 2 after the company won new orders worth Rs 1,795 crore.

“JMC Projects (India) has secured new orders of Rs 1,795 crore, including water supply projects in India of Rs 1,085 crore and B&F projects in India of Rs 710 crore,” the company said in the release.

“We are enthused with the new order wins in our Water and B&F business. These new orders will help us to further consolidate our position in high growth businesses,” said S. K. Tripathi, CEO¬†and¬†Managing Director at JMC Projects (India).

“Amidst a challenging environment, these new orders also support us in diversifying our clientele, generate additional business from existing marquee clients and appropriately manage commodity risk through pass through clauses,” he added.

JMC’s order inflow for the current financial year has crossed Rs 9,750 crore, the management said, adding that it will ensure good growth in the coming quarters.

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At 09:18 hrs, JMC Projects (India) was quoting at Rs 104, up Rs 12.40, or 13.54 percent on the BSE.

The stock touched a 52-week high of Rs 130 and a 52-week low of Rs 57 on 30 July, 2021 and 22 December, 2020, respectively.

Currently, it is trading 20 percent below its 52-week high and 82.46 percent above its 52-week low.