JMC Projects builds up

JMC Projects closed in the red yesterday and today is opened over 12% higher at Rs.60.20 and went on to an intraday high at Rs.62.20, not too far from its 20% UC of the day at Rs.64.25.

The company announced that it has received new orders to the tune of Rs.554  crore.

Of this, Rs.315 crore is a building project in South India and another Rs.239 crore factory project in Maharashtra.

The company said that it has won orders of around Rs.4,000 crore till date in FY21 despite the challenging market conditions.

Two weeks ago, it had got two orders – one worth Rs.1169 crore in South India and another Rs.194 crore worth water supply project in Bihar.

The company expects execution to normalise at pre-coronavirus levels by the end of the second quarter of FY21.