JMC Projects surges on securing order worth over Rs 930 crore

The stock surged 11% to Rs 224 on the BSE in early morning trade.

JMC Projects (India) has surged 11% to Rs 224 on the BSE after the company announced that it has recently secured new orders worth over Rs 930 crore.

The construction & engineering company has received road engineering, procurement & construction (EPC) project in Ethiopia worth approx. Rs 465 crore and retail mall project in Bangalore of Mantri developers worth Rs 235 crore.

The company has also bagged area infrastructure development project by Naya Raipur Development Authority worth Rs 169 crore and building project in Bangalore worth approx. Rs 62 crore, JMC Projects said in a statement.

Commenting on securing new orders, Mr. S. K. Tripathi (CEO & Dy. Managing Director) commented "We have penetrated in our existing international market by securing repeat road EPC project in Ethiopia, now we are actively looking for few more geographies under the infrastructure segment."

At 09:45 AM, the stock was up 7% at Rs 217 on the BSE as compared to 0.32% decline in the S&P BSE Sensex. A combined 107,906 shares changed hands on the counter on the NSE and BSE so far.