JMC Projects share gains 20% on winning orders worth Rs 938 crore

JMC Projects stock jumped nearly 20% in Wednesday's volatile trading session after the company said it has secured new orders of Rs 938 crore.

JMC Projects stock opened with a gain of 19.17% and touched an intraday high of Rs 60.4, rising 19.96% against the previous close of Rs 50.35.

The stock has gained 27% in a week and 55% in one month. Market capitalisation of the firm stood at Rs 957.90 crore.

JMC Projects stock trades higher than 5, 20, 50 and 100-day moving averages but lower than 200-day moving averages.

JMC Projects said in a regulatory filing it has secured fresh orders worth Rs 938 crore, which includes water supply projects in Uttar Pradesh totalling Rs 841 crore and building project in South India totaling Rs 97 crore.

"We are happy with the new order wins in the face of challenging market conditions. We continue to scale up our water business and have expanded our presence in Uttar Pradesh with the new order wins. We remain confident of significant growth opportunities in the Water business going forward," said SK Tripathi, CEO and Deputy Managing Director of the firm.

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