JMC Projects Shares Hit One-Year High On Order Win
Shares of JMC Projects (India) Ltd. surged to its highest level in one year after it secured new orders.
The company won two orders worth total Rs 2,277 crore. This includes water projects worth Rs 1,497 crore and a building and factories projects worth Rs 780 crore, according to its exchange filing.
Shares of the company gained 4.24% to Rs 114.2 apiece as of 12 p.m. on Friday, while the benchmark Nifty 50 declined 0.11% on the NSE. The stock had earlier hit an intraday high of Rs 116, its highest since Oct. 18, 2021. Total traded quantity is 5.8 times the 30-day average.
Of the three analysts tracking the company, all maintain 'buy', as per data available on Bloomberg. The 12-month consensus price target implies an upside of 20%.
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