Indian benchmark indices maintained their positive momentum, driven by robust economic data and favourable election results. Once again, the indices reached all-time highs, reflecting the prevailing investor optimism across various sectors. The BSE Power and BSE Utilities sectors took the lead with gains exceeding 3% each, while the oil & gas and banking stocks sustained a robust upward trend.
Despite a considerable downtrend in real estate and construction stocks, J Kumar Infraprojects Ltd, a small-cap civil construction company, successfully captured the interest of investors. The company has received a Letter of Acceptance for a project involving the design and construction of the flyover (missing links) from Link Road, Andheri (West) to Poonam Nagar (JVLR), situated alongside the alignment of Metro Line – 6 of the Mumbai Metro Rail Project by M/s Mumbai Metropolitan Region Development Authority (MMRDA). The total contract cost for this project is approximately Rs 379 crore.
Given the company’s existing market capitalization of Rs 3,300 crore, this project has the potential to serve as a significant growth catalyst for the business. The company’s shares have experienced a remarkable surge of approximately 60% in the past six months and are currently trading at Rs 449.30 per share on the BSE, having recently peaked at a 52-week high of Rs 473.40 on the BSE.
J Kumar Infraprojects Limited specializes in the execution of contracts for diverse infrastructure projects, encompassing Transportation Engineering, Irrigation Projects, flyovers, bridges, roads, dams, canals, underground metro, and more. With a track record of completing approximately 90 projects in the construction domain, the company stands out as one of the rare players in the country capable of qualifying for large-sized complex projects without the need for joint ventures.
Keep a close eye on this stock for the upcoming trading sessions.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet, and is subject to changes. Please consult an expert before making related decisions.
Enjoy Zero Brokerage on Equity Delivery
Join our 1.75 Cr+ happy customers
Enjoy Zero Brokerage on