KNR Constructions rose 0.95% to Rs 207.20 after the company received a letter of acceptance (LoA) for a road construction project in Karnataka worth Rs 1,100.88 crore.
The project involves four-laning of the Bangalore-Mangalore section, including the six-lane flyover at Kalladka town, of NH-75 on EPC basis.
The project is to be completed within a period of 24 months, the company said in a BSE filing made during market hours today.
The stock hit a high of 214.35 and a low of 204.50 so far during the day.
The scrip is currently trading 14.42% below its 52-week high of Rs 242.10 hit on 03 March 2021. It has gained 141.41% from its 52-week low of Rs 85.83 recorded on 26 March 2020.
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KNR Constructions provides engineering, procurement, and construction (EPC) services, primarily for the roads and highways segment.
The company's consolidated net profit zoomed 87.99% to Rs 97.55 crore in Q3 FY21 from Rs 51.89 crore in Q3 FY20. Net sales during the quarter rose 21.69% YoY to Rs 734.71 crore.
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