JMC Projects (India) share price rose over 6 percent in trade on Thursday on reports of infra firm securing new orders worth Rs 1,342 crore across various segments. In a release issued to exchanges, the company said that it received infrastructure projects in East Asia of approx. Rs 725 crore, water supply projects in Odisha totaling Rs 471 crore and a building project in North India of Rs 146 crore.
“We are particularly enthused with the new order win in East Asia, which enables us to further expand our presence in the international markets. We are confident that our strategy to diversify in the international markets will open up a huge opportunity for us going forward,” said S K Tripathi, CEO & Dy. Managing Director, JMC Projects.
In the current year, the company has received orders exceeding Rs 5,300 crore against the initial guidance of Rs 5,000 crore, he added.
“Accordingly based on current prospects we are revising our order inflow target to Rs 7,500 crores for 2020-21. Our strong and diversified order book will help us to deliver on growth and profitability targets going forward,” Tripathi said.
The stock price of JMC Projects gained as much as 6.58 percent to an intraday high of Rs 56.65 on the BSE. At 9:55 am, the shares traded 4.42 percent higher, quoting at Rs 55.50 apiece.