Shares of J Kumar Infraprojects jumped back in the green on Friday morning after it announced securing the massive government order.
What Happened: The company on Friday morning informed the exchanges that it had received a letter of acceptance for the construction of a 4-lane elevated corridor on Grand Southern Trunk Road. The Superintending Engineer, Highway Department, Construction and Maintenance, Chennai Circle, Chennai awarded the order.
The total order value is around ₹582.68 crore and is expected to be completed within the next two years. Earlier this month, the company secured a construction order valued at ₹378.7 crore. The project involves the design and construction of a flyover to address the “Missing Links” from Link Road, Andheri (West) to Poonam Nagar (JVLR), adjacent to the alignment of Metro Line – 6 of the Mumbai Metro Rail Project, following Mumbai Metropolitan Region Development Authority (MMRDA) specifications.
In October 2023, the company, backed by Mukul Agrawal, secured a ₹500 crore order for the development of the Command Hospital in Lucknow. Agrawal holds a 2.64% stake in J Kumar Infraprojects.
Price Action: J Kumar Infra shares were up 3.54% to trade at ₹455.35 in early trade on Friday.
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