JMC Projects share rises 6% on bagging orders value Rs 1,342 crore

JMC Projects share rises 6% on bagging orders worth Rs 1,342 crore

Shares of engineering agency JMC Projects (India) Ltd rose over 6% to Rs 56.65 apiece, in an in any other case weak market on Thursday after the corporate stated it has secured new orders of Rs 1,342 crore within the home and worldwide markets.

JMC Projects share worth opened with a acquire of three.48% at Rs 55 and later touched an intraday excessive of Rs 56.65, rising 6.59% towards the earlier closing worth of Rs 53.15. The inventory additionally hit an intraday low of Rs 54.55 throughout at the moment’s session. It has gained after 2 days of consecutive fall.

JMC Projects inventory has risen 7.5% in a single week and 6.2% in a single month. Market capitalisation of the micro-cap inventory stood at Rs 938.59 crore.

The inventory trades increased than 5, 20, 50 and 100-day transferring averages however decrease than 200-day transferring averages.

The firm stated in a regulatory submitting it has secured water provide tasks in Odisha totalling Rs 471 crore and a constructing mission in north India of Rs 146 crore. The firm added it has gained Rs 725 crore value infrastructure mission in East Asia.

“In the current year, we have received orders exceeding Rs 5,300 crore against the initial guidance of Rs 5,000 crore, accordingly based on current prospects, we are revising our order inflow target to Rs 7,500 crore for 2020-21. Our strong and diversified order book will help us to deliver on growth and profitability targets going forward,” stated S Okay Tripathi, CEO and Deputy Managing Director.

He added that this new order win in east Asia will allow the corporate to additional develop its presence within the worldwide markets.

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John Show

About John Show

John is a journalist with nearly 6 years of experience. While studying journalism at the University of Tennessee, John found a passion for finding engaging stories. As a contributor to Market News Reports, John mostly covers state and national developments.

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