KNR Constructions saw its stock jump 10% after bagging a significant coal mining project in Jharkhand. The company has received a Letter of Acceptance from Patratu Vidyut Utpadan Nigam Ltd—a joint venture between NTPC and Jharkhand Bijli Vitran Nigam Ltd (JBVNL)—for short-term development and operation of the Banhardih Coal Mining Block.
The project has been awarded to the KNRCL-HCPL joint venture, with KNR Constructions holding a dominant 74% stake and Harsha Constructions Pvt Ltd owning the remaining 26%. The contract is valued at ₹4,800.57 crore (excluding GST) and includes an initial 360-day development phase followed by five years of mining operations.
Located in Jharkhand, the Banhardih mine is estimated to have reserves of about 34.5 million tonnes of coal. This win marks a major milestone in KNR’s efforts to diversify into the mining sector beyond its core road and infrastructure business.
In line with regulatory norms, the company has also announced a trading window closure for insiders from June 25 to June 27, 2025.
KNR Constructions shares opened at ₹213.90 and touched a high of ₹235.70 during the day. The stock hit a low of ₹213.12. It is trading well above its 52-week low of ₹192.55 but remains below the 52-week high of ₹415.40.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.