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JMC Projects shares jump 4% on winning orders worth Rs 698 cr

Updated : December 30, 2020 10:07 AM IST

The company's order inflows for the current year has crossed Rs 6,700 crores, he informed.

Shares of JMC Projects (India) jumped 4 percent in early trade on Wednesday after the infra company said it has received orders worth Rs 698 crore for building works in South India.

“We are pleased with the new order wins in our B&F (Buildings & Factories) business. Our recent orders have further strengthen JMC's position in the Southern India B&F market,” said S K Tripathi, CEO and Deputy Managing Director, JMC Projects.

The company's order inflows for the current year has crossed Rs 6,700 crores, he informed.

"We remain confident to achieve our targeted numbers for the financial year 2020-21," Tripathi added.

In another development, Vardhan Dharkar, director (finance) and chief financial officer (key managerial personnel) tendered his resignation on December 29, 2020, due to personal reasons, the company said in a regulatory filing.

He will be relieved on December 31, 2020, after the close of business hours, it added.

The stock price rose as much as 4 percent to Rs 69.10 apiece on the BSE. At 9:50 am, the shares were trading 2.71 percent higher at Rs 68.25 as compared to a 0.09 percent loss in the benchmark Sensex.

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