JMC Projects shares jump 8% on new orders worth Rs 1,363 crore

The stock witnessed spurt in volume by more than 4.19 times and was trading with volumes of 50,413 shares, compared to its five day average of 10,696 shares, an increase of 371.34 percent.

JMC Projects share price jumped 8 percent in morning trade on August 12 after the company secured new orders worth Rs 1,363 crore.

The company said it has won Rs 1,169-crore building projects order in southern India. In Bihar, it has won a water supply project of Rs 194 crore, the company said in an exchange filing.

The company's CEO and Deputy Managing Director S K Tripathi said, "We are happy with the new order wins in the face of challenging market conditions." He added that the company is witnessing improvements in operations and expects execution to normalise at pre-coronavirus levels by the end of the second quarter of 2020-21.

The stock price was trading at Rs 52.35, up Rs 3.90, or 8.05 percent. It has touched an intraday high of Rs 55.00 and an intraday low of Rs 51.70.

It witnessed a spurt in volume by more than 4.19 times and was trading with volumes of 50,413 shares compared to its five day average of 10,696 shares, an increase of 371.34 percent.

According to Moneycontrol SWOT Analysis powered by Trendlyne, the company has zero promoter pledge with promoters increasing shareholding.

Moneycontrol technical rating is very bullish with moving averages and technical indicators being bullish.

Disclaimer: The views and investment tips expressed by experts on moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com/SD Solutions advises users to check with certified experts before taking any investment decisions.

Source – Moneycontrol.com

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