Shares of J. Kumar Infraprojects received a bump on Tuesday after the company announced winning a massive contract.
What Happened: The contract is for the development of Command Hospital in Lucknow. The contract’s first phase is the construction which is scheduled to be completed in 30 months, while the second phase which is for maintenance is for 60 months.
The total contract value is ₹509 crore. The order comes on the heels of another order the company informed about on Monday. The company had received a letter of acceptance from the Mumbai Metropolitan Regional Development Authority (MMRDA).
The project is for the design, supply, fabrication and erection of pre-engineering building structural steel works and the execution of internal & external architectural finishings, and plumbing works including interior fitouts for five elevated stations of the Mumbai Metro Rail Project. The project is worth around ₹99.29 crore.
Price Action: Shares of J. Kumar Infra were up 4.40% to trade at ₹469.95 in early trade on Monday. Mukul Agrawal owns a 2.64% stake in the company.
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