Shares of J Kumar Infraprojects shine as its JV gets LoA from BMC

J Kumar Infraprojects’ joint venture (JV) — J. Kumar – NCC JV — received a Letter of Acceptance (LoA) from M/s Brihanmumbai Municipal Corporation (BMC) on September 21, 2023 for the project: Design construction and operation of twin tunnel from Film City Goregaon to Khindipada (Amar Nagar) Mulund including Box Tunnel at Film City, Electrical, Mechanical and associated works, where the share of J. Kumar Infra is 49% of the total contract cost, amounting to Rs 3,087.53 crore (net of GST). The duration of the Project is 5 years and operation and the operation and maintenance of the project are 10 Years.

In addition to this, J Kumar Infraprojects Ltd also won orders worth Rs 3,401 crore from the National Highways Authority of India for the construction of four elevated corridors from the Chennai port. Two of the four orders were received by the joint venture between J Kumar Infraprojects and J Kuma-Azvirt, according to an exchange filing.

J Kumar Infraprojects is engaged in construction activities. The company designs and constructs roads, bridges, flyovers, subways, overbridges, skywalks, and railway terminus/stations, among others.

J Kumar Infraprojects is currently trading at Rs 412.00, up by 8.45 points or 2.09% from its previous closing of Rs 403.55 on the BSE. The scrip opened at Rs 408.45 and has touched a high and low of Rs 414.40 and Rs 408.45 respectively. So far 1878 shares were traded on the counter.

The BSE group ‘A’ stock of face value of Rs 5 has touched a 52-week high of Rs 432.85 and a 52-week low of Rs 216.45. Last one week high and low of the scrip stood at Rs 411.10 and Rs 390.00 respectively. The current market cap of the company is Rs 3053.48 crore. The promoters holding in the company stood at 46.65%, while Institutions and Non-Institutions held 23.36% and 30.00% respectively.

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.