Shares of J Kumar Infra soared by 15% to reach a record high of ₹565, driven by a bullish outlook from brokerage firm CLSA, which raised its price target on the stock. CLSA, while maintaining a “buy” recommendation, increased the price target by an impressive 87% to ₹720 from the earlier ₹385.
The company has witnessed a substantial increase in urbanisation orders in the current financial year, with its order backlog surging by 114% compared to the previous year.
Given its focus on building climate-resistant urban infrastructure, CLSA anticipates that J Kumar Infra is well-positioned to double its topline in the future. Consequently, the brokerage has revised its Earnings per Share (EPS) estimates, projecting an 11% increase over the financial year 2025 estimates.
As of 12:55 pm the shares were trading 20% higher at ₹593.50
