JMC Projects hits upper circuit on order wins worth Rs 1,849 crore

JMC Projects adds Rs 3,300 crore to its order book in last two months

JMC Projects, a company engaged in civil and engineering, procurement and construction (EPC) projects today announced order wins amounting to Rs 1,849 crore for two projects: B&F Projects in India of Rs 857 crore and social housing project in Maldives of Rs 992 crore. 

Interestingly, the stock was trading around Rs 100 till 2:21 pm today. And no sooner had the announcement made public, than the stock had hit an upper circuit of 20 per cent touching the day high of Rs 119.85, clearly implying the material impact of the deal win. 

The stock is trading at 113.65, up by 13.75 per cent as of 2:58 pm. 

The order from the Maldives is the first international buildings & factories (B&F) order for the company, which marks the start of its international footprint in the segment. With this, the total order book for the year has gone up to Rs 7,959 crore which is positive news for a company with Rs 3,844 crore revenues in FY21. It had recently secured an order of Rs 1,451 crore for water projects in India. A good next quarter can be expected. 

JMC Projects Ltd is a subsidiary of Kalpataru Power Transmission Ltd and has expertise in handling civil and EPC projects. 

The share price has a 52-week high and low of 130 and 45 respectively on BSE.