J Kumar Infraprojects was locked in 5% upper circuit at Rs 162.15 at 09:21 IST on BSE after the company said that its joint venture has won a contract worth Rs 5012 crore from Mumbai Metro Rail Corporation.
The announcement was made after market hours yesterday, 25 August 2016.Meanwhile, the S&P BSE Sensex was up 82.94 points, or 0.3%, to 27,918.85
On BSE, so far 2,183 shares were traded in the counter, compared with an average daily volume of 69,146 shares in the past one quarter. The stock opened with an upward gap, surging by the maximum 5% daily circuit and remained locked at the 5% level at Rs 162.15 so far in the day. The stock hit a record high of Rs 449.75 on 6 October 2015. The stock hit a 52-week low of Rs 105.80 on 17 August 2016.
The small-cap company has an equity capital of Rs 37.83 crore. Face value per share is Rs 5.
J Kumar Infraprojects said that J Kumar - CRTG joint venture (JV) won a contract worth Rs 5012 crore from Mumbai Metro Rail Corporation (MMRC) for Phase-3 of the city metro project work to begin by October 2016. MMRC had issued the letter of intent (LoA) to J Kumar - CRTC JV for the 3rd phase of the Metro project and the project was assigned to the JV on 5 July 2016. The work order calls for design and construction of underground sections including four underground stations at Dharavi, BKC, Vidhyanagari and Santacruz and associated tunnels worth approximately Rs 2858 crore. Further, the contract includes design and construction of underground sections including CSIA domestic airport, Sahar Road and CSIA International airport and associated bored tunnels worth approximately Rs 2153 crore. The 33.5-kilometre long, Metro -3 corridor will stretch across 27 stations and will be built underground. The requisite preparatory work like conducting surveys and related investigations are in progress and the project work is likely to commence in October 2016.
J Kumar Infraprojects' net profit rose 4.68% to Rs 28.61 crore on 0.99% rise in total income to Rs 412.48 crore in Q4 March 2016 over Q4 March 2015.
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J Kumar Infraprojects is a civil engineering company focussed on construction of roads, flyovers, civil construction of buildings, irrigation projects and piling works.
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