KNR Constructions down 2pc on exchanges

Shares of KNR Constructions today dropped nearly 2 per cent on exchanges even as the firm said it has won a Rs 1,021 crore highway project from National Highways Authority of India (NHAI) in Tamil Nadu.
On NSE, the shares settled for the day at Rs 302, down 1.95 per cent from the previous close.
The stock fell 1.63 per cent on BSE to end the day at Rs 303.85.
In terms of volume, 3.50 lakh scrips of the firm were traded on NSE and 14,000 shares changed hands on BSE.
"KNR Constructions Ltd has bagged its first Hybrid Annuity Project (HAM) with bid project cost of Rs 1020.60 crore from NHAI for the work of four-laning of Trichy to Kallagam section of NH-227," the company said in a regulatory filing to the BSE.

The project will be implemented under Bharatmala Pariyojana in Tamil Nadu, it said.
It added that the project has a concession period of 17 years including construction period of 2 years from the appointed date.