JMC Projects builds up

JMC Projects today morning announced receipt of new orders worth Rs.1342 crore.

The orders:

• Infrastructure Project in East Asia of approx. Rs.725 crore

• Water Supply Projects in Odisha totalling Rs.471 crore

• Building Project in North India of Rs.146 crore

In the current fiscal, the company has received orders exceeding Rs.5,300 crore against the initial guidance of Rs.5,000 crore, accordingly based on current prospects we are revising our order inflow target to Rs.7,500 crore for 2020-21. The company said that its strong and diversified order book will help it to deliver on growth and profitability targets going forward.

The stock, which had closed yesterday at Rs.53.15, it opened at Rs.55 and went up further to Rs.56.65. The 20% UC of the day currently stands at Rs.63.75.