The share price of JMC Projects (India) Ltd (JMC) surged 20 percent in the early trade on Wednesday after the company secured new orders worth Rs 938 crore amid challenging market conditions.
The stock jumped as much as 19.96 percent to Rs 60.40 apiece on the BSE. At 9:47 am, the stock was trading at Rs 57.50 per share, up 14.20 percent.
The share price of JMC Projects has doubled since its 52-week low of Rs 29.50 hit in March this year.
The company bagged water supply projects in Uttar Pradesh totaling Rs 841 crore. It also secured a building project in South India worth Rs 97 crore, the company said in a regulatory filing on Tuesday.
“We continue to scale up our water business and have expanded our presence in Uttar Pradesh with the new order wins. We remain confident of significant growth opportunities in the Water business going forward,” said SK Tripathi, CEO and Dy Managing Director.
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