JMC Projects announced that it has won Rs 1,169 crore infrastructure project in South India. This caused a 8% surge in the share price in morning trade on August 12.
The company said it has won Rs 1,169-crore building projects order in southern India. In Bihar, it has won a water supply project of Rs 194 crore, the company said in an exchange filing.
The company’s CEO and Deputy Managing Director S K Tripathi said, “We are happy with the new order wins in the face of challenging market conditions.” He added that the company is witnessing improvements in operations and expects execution to normalise at pre-Coronavirus levels by the end of the second quarter of 2020-21.
The stock price was trading at Rs 52.35, up 8.05%. It witnessed a spurt in volume by more than 4.19 times and was trading with volumes of 50,413 shares compared to its five day average of 10,696 shares.
