JMC Projects secures new orders of Rs. 1,966 crore

JMC Projects, a subsidiary of Kalpataru Power Transmission Limited, has secured new orders amounting to Rs. 1,966 crores.

JMC Group has secured two turnkey projects under Micro Lift Irrigation Scheme worth Rs. 2,650 crores from Narmada Valley Development Authority (NVDA) in MP. The share of JMC in these projects is around Rs. 1,600 crores.

It has also grabbed another order for construction of township for National Mineral Development Corporation (NMDC) for around Rs. 366 crores in Chhattisgarh.

The company wins new orders in the water and building segments. These large irrigation orders will help the company to improve their capabilities and further strengthen their presence in the water segment. Overall, the robust and well-diversified order book gives the confidence that the company may deliver the growth target of 15-20 per cent for FY19.

On Tuesday, the stock opened at Rs. 529.40 per share and made an intra-day high of Rs. 539.80, on the BSE.