JMC Projects gains 11% after securing new orders worth Rs 616 crore

Shares of JMC Projects (India) surged 11 per cent to Rs 132 apiece in the opening trade on the BSE on Friday after the company secured new orders worth of Rs 616 crore for residential and commercial projects in South India.

The stock was trading close to its 52-week high level of Rs 142 - touched on May 29, 2018 - on the BSE in the intra-day trade. In comparison, the S&P BSE Sensex was up 0.41 per cent at 38,970 points. A combined 2,67,880 equity shares have changed hands on the counter on the BSE and NSE so far.

JMC Projects (India), a subsidiary of Kalpataru Power Transmission, has emerged as one of the leading civil EPC Company supported by "customer satisfaction, robust management and execution capabilities".

"We are pleased with the new order wins in our buildings & factory (B&F) business. Most of these new orders are repetitive business from our existing clients, demonstrating JMC's impeccable reputation for domain expertise, timely delivery and adherence to quality standards," S. K. Tripathi, chief executive officer & deputy managing director, said.

With the company’s persistent focus on execution, the management is confident of achieving sustainable and profitable growth in the future.