Shares of J Kumar Infraprojects surged by 5 percent in trading, reaching a new 52-week high on October 17, following the company’s successful bid for a project worth Rs 509 crore.
The infrastructure player secured a letter of acceptance as the sole bidder for the project, which involves providing technical accommodation and allied infrastructure for the Command Hospital in Lucknow. The project will be executed in an engineering, procurement, and construction mode and has a total consideration of Rs 590 crore, including GST. The anticipated timeline for the project spans 90 months, with construction expected to take 30 months and an additional 60 months allocated for maintenance.
As of 1:14 pm, J Kumar Infraprojects stock was trading at Rs 469.45 on the NSE, reflecting a 4.28 percent increase.
The company secured a deal valued at Rs 99.29 crore from the Mumbai Metropolitan Region Development Authority (MMRDA) on October 16. The contract involves supplying pre-engineered building structural steel works and carrying out internal and external architectural finishes for elevated stations within the Mumbai Metro Rail Project under MMRDA. The project’s completion is expected within 56 weeks.
