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JNK India hits 52-week high: Shares of JNK India climbed as much as 16.02 per cent to hit a fresh 52-week high of Rs 787.50 per share on Tuesday.
The surge in stock price came after JNK India announced that it has bagged a ‘mega’ order from Reliance Industries Limited (RIL). The mega order ranges from Rs 350-500 crore, according to the company.
In an exchange filing, JNK India said, “We wish to inform you that the company has received a Mega order from Reliance Industries Limited (RIL) on June 14, 2024 for Gas Cracker Unit (GCU) De-Bottlenecking (DBN) project at RIL’s Nagothane manufacturing division (NMD), Maharashtra in India.”
JNK India is tasked with the design, engineering, procurement, supply, complete site erection, and provision of technical assistance during pre-commissioning, commissioning, and performance guarantee test runs for two (2) Gas Cracking Furnaces, as outlined in the order details.
The project is expected to be completed within 21 months.
Established in 2010, JNK India Private Limited specialises in Engineering, Procurement, and Construction (EPC) services, with a primary focus on the upstream and downstream sectors of Oil & Gas, Petrochemicals, Chemicals, and Fertilisers industries in India and globally.
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The company is equipped with advanced design and technology capabilities for Fired Heaters, Reformers, and SMR hydrogen units.
In addition to these core areas, JNK India has expanded into technology-driven EPC projects such as Flare systems, Incinerators, Reaction Furnace Packages, and Hydrogen Refueling Stations to diversify its portfolio.
To stress upon its commitment to environmental sustainability, JNK India has established JNK Renewable Energy Pvt Ltd, a wholly-owned subsidiary dedicated to executing EPC projects in solar energy and related sectors.
The company made its stock market debut on April 30, 2024. The issue price was Rs 415.
The market capitalisation of the company is Rs 4,325.08 crore, according to Bombay Stock Exchange (BSE). Meanwhile, the 52-week low of JNK India stock is Rs 550 per share.
At 12:23 PM, JNK India stock was trading 14.56 per cent higher at Rs 777.60 per share. By comparison, BSE Sensex was trading 0.32 per cent higher at 77,238.95 levels.
