KNR Constructions gain 2 per cent

KNR Constructions informed the bourses that its arm, KNR Somwarpet Infraproject has received a project from Karnataka State Highways Improvement Project (KSHIP) worth Rs 1,144.5 crore.

The construction period of the project would be of two year while, the concession period will be of nine years.

KNR Constructions is a multi-domain infrastructure project development company providing Engineering, Procurement and Construction (EPC) services across various fast growing sectors namely roads and highways, irrigation and urban water infrastructure management.

The order book remained solid with 3.1x TTM revenue while, the total outstanding order book increased by 15 per cent YoY and stood at Rs 6,682 crore as on September 30, 2019. The company expects an order inflow of Rs 1,500 crore in the remaining quarters of FY20, mainly from irrigation and highways.

Today, the stock witnessed a gap up opening by two per cent at Rs 282.95 and made an intraday high of Rs 283.70 in the early trade on BSE. At 9.36 am, the stock was trading at nearly Rs 282.60 on BSE.