Shares of J.Kumar Infraprojects experienced a notable rise of nearly 4% during intraday trading on March 24. This uptick followed the company’s recent announcement regarding a substantial contract worth ₹1,020.70 crore awarded by the City and Industrial Development Corporation of Maharashtra (CIDCO). Investors are keenly watching this infrastructure firm, particularly with prominent investor Mukul Mahavir Agrawal holding a stake in the company.
Major Contract from CIDCO
In its latest exchange filing, J.Kumar Infraprojects revealed that it has received a “Letter of Acceptance” from CIDCO. The contract focuses on the design and construction of a coastal road project connecting Jalmarg Sector-16, Kharghar to the PMAY Housing scheme near Kharghar Railway Station. Additionally, it includes a pedestrian underpass near Delhi Public School, Nerul, in Navi Mumbai.
- Contract Value: ₹1,020.70 crore (exclusive of GST)
- Project Scope: Coastal road and pedestrian underpass construction
This marks the second significant contract win for J.Kumar Infraprojects this month. Earlier, on March 7, the company secured an order valued at ₹120.87 crore from Railway Vikas Corporation Limited, which is a public sector undertaking.
Recent Financial Performance
Following the announcement of the new order, shares of J.Kumar Infraprojects jumped nearly 4% during trading. The stock opened at ₹685, surpassing its previous close of ₹678.15, and reached a peak of ₹705 during the session. However, it should be noted that despite today’s gains, the stock has seen a 9.10% decline year-to-date.
- Opening Price: ₹685
- Day’s High: ₹705 (+3.94%)
- Day’s Low: ₹683.20
In the last month, the stock has shown a positive trend, gaining 4.71% amid a broader recovery in the Indian stock market. Over the past year, J.Kumar Infraprojects has appreciated by 12%, while its remarkable 892% increase over the last five years highlights its status as a multibagger stock, with a market capitalization now at ₹5,275 crore.
Stakeholding Insights
Mukul Mahavir Agrawal is a noteworthy investor in J.Kumar Infraprojects, holding a 2.61% stake, which translates to approximately 1,975,000 shares as per the latest shareholding data available on the BSE. This indicates confidence in the company’s growth trajectory and its ongoing projects.
For those interested in investing in infrastructure stocks, J.Kumar Infraprojects presents an intriguing opportunity, especially given its recent contract wins and the positive sentiment in the market. To stay updated on similar investment opportunities, consider following market trends and expert analyses.
