Shares of J Kumar Infraprojects surged nearly 4% in Monday’s trade, hitting ₹701.60, following the company’s announcement of receiving a major Letter of Acceptance (LOA) from CIDCO (City and Industrial Development Corporation of Maharashtra Limited). The project win has sparked investor interest, positioning the stock firmly in focus.
In a regulatory filing dated March 24, the company revealed it has been awarded a contract worth ₹1,020.70 crore (excluding GST) for the design and construction of a coastal road in Navi Mumbai. The road will connect Jalmarg Sector-16, Kharghar to the PMAY Housing Scheme near Kharghar Railway Station and includes a pedestrian underpass near Delhi Public School, Nerul.
The project, awarded by a domestic entity, is expected to be completed within 30 months. J Kumar Infraprojects is the sole bidder for this contract. The company confirmed that the promoter group holds no interest in CIDCO, and the contract does not qualify as a related-party transaction.
At 11:58 AM, the stock was trading at ₹701.60, up 3.53%, with a market capitalization of ₹53,110 crore. The day’s trading range was ₹681 to ₹702, reflecting strong investor sentiment after the order win.
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