JMC Projects shares close over 8 pc higher on fresh orders

Shares of engineering firm JMC Projects (India) on Wednesday closed with over 8 per cent gains after the company said it has secured new orders worth Rs 1,363 crore.

The stock closed 6.30 per cent higher at Rs 51.50 on the BSE. During the day, it jumped 13.51 per cent to Rs 55.

On the NSE, it zoomed 8.26 per cent to close at Rs 52.40.

In a filing to the BSE on Tuesday, the company said it has won Rs 1,169-crore building projects order in southern India; while in Bihar, it has won a water supply project of Rs 194 crore.

The company's CEO and Deputy Managing Director S K Tripathi said the firm is witnessing improvements in operations and expects execution to normalise at pre-coronavirus levels by the end of the second quarter of 2020-21.

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Free Press Journal