J Kumar Infra bags Rs 509 crore project; stock hits 52-week high

J Kumar Infra bags Rs 509 crore project; stock hits 52-week high

Compared to Nifty 50’s one-year run of 14.8 percent, shares of the firm jumped 82.6 percent during the same time period. The counter sees high volatility, as indicated by the one-year beta of 1.17

The company will provide tech accommodation and allied infra for the Command Hospital, Lucknow in an engineering, procurement and construction mode. The total consideration for the project is Rs 590 crore, including GST

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J Kumar Infraprojects shares jumped 5 percent in trade, hitting a new 52-week high on October 17 after the infrastructure player received a letter of acceptance for a project worth Rs 509 crore of which J Kumar Infraprojects is the sole bidder in receipt of the LOA.

The company will provide tech accommodation and allied infra for the Command Hospital, Lucknow in an engineering, procurement and construction mode. The total consideration for the project is Rs 590 crore, including GST. The project is estimated to take 90 months with 30 months for construction and 60 months for maintenance.

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As of 12.36 pm, J Kumar Infraprojects stock was trading at Rs 466.65 on the NSE, higher by 3.67 percent.

On October 16, the company bagged a contract worth Rs 99.29 crore from the Mumbai Metropolitan Region Development Authority (MMRDA). The scope of work includes the supply of pre-engineering building structural steel works and execution of internal and external architectural finishings for elevated stations of the Mumbai Metro Rail Project of MMRDA. The project is to be executed in 56 weeks.

J Kumar Infraprojects stock movement, shareholding pattern

Compared to Nifty 50’s one-year run of 14.8 percent, shares of the firm jumped 82.6 percent during the same time period. The counter sees high volatility, as indicated by the one-year beta of 1.17. The stock is neither overbought nor oversold as shown by the RSI of 67.1.

The firm’s promoters have maintained a 46.7 percent stake in the infra player over quarters. FIIs hold 10.0 percent in the firm as of the September quarter shareholding data, while DIIs owned 14.8 percent. Of the DIIs, mutual funds own 9.76 percent. The public held 28.56 percent in J Kumar Infraprojects.Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions. 

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