JKIL Bags order worth 5000 crores

JKumar Infraprojects, a construction company mainly dealing in the infra projects has bagged a work order from Mumbai Metro Rail Corporation. JKumar Infra in joint venture with CRTG has received a Letter of Acceptance (LOA) worth nearly Rs 5012 crores.

JKumar Infra will look into the design and construction of underground sections including stations at Dharavi, BKC, Vidhyanagari and Santacruz and the connected tunnels worth nearly Rs 2858 crores. The remaining nearly Rs 2154 crores will be invested in design and construction of underground sections, which will also cover CSIA domestic airport, Sahar Road and CSIA International airport and related bored tunnels.

With this order, JKumar Infra’s orderbook now reaches nearly Rs 10500 crores. The Maharashtra government has already reserved Rs 1 lakh crore for infra projects during the year. The execution of the metro rail project will take place in next two years probably.

JKumar Infra stock prices have been facing a severe setback from its delayed order execution and also prolonged order from Mumbai L3. However, recently the stock has witnessed some recovery ahead of the receipt of the above mentioned orders.  

On the day of announcement in BSE, JKIL’s shares have surged 2.3 per cent in the morning trade itself at Rs 248. The stock is trading above its 50 days EMA support.