KNR Constructions gets going

Yesterday after market hours, KNR Constructions stated that as per communication received from NHAI, with regards to resumption of collection of user fee at all toll plazas on National Highways w.e.f. 20th April 2020, the company’s SPVs has re-commenced the collection of user fee (toll) on all the NHAl projects.

The Ministry of Road Transportation and Highways (MORTH) had suspended tolling on all national highways, following the 21-day lockdown as per Ministry of Home Affairs (MHA) guidelines.

The stock price is cautiously optimistic as one needs to first assess the loss caused to the company due to the closure of toll collection for almost one month.

Following this news, the stock price of KNR is up in the green, opening with a gain of 3% at Rs.214.90 and going up further by 8% to hit an intraday high at Rs.225. It has a 20% UC and today it stands at Rs.250.25.