KNR Constructions zooms up

KNR Constructions is in the limelight today morning. The stock, which had closed yesterday at Rs.296.40, opened today at Rs.316 and went on further to Rs.318, very close to its 52-week high of Rs.319.85, hit on 4^th Dec.

The stock has zoomed up today after the company said that the Board will be meeting on Friday to consider a bonus issue.

The company has been doing well as in Q2FY21, it reported a very good set of earnings with a consolidated sales of Rs.656 crore, up 12% (YoY) and net profit came in at Rs.155 crore. Its order book is very strong at Rs.8550 crore, indicating that the road ahead too has a good earning visibility.