J Kumar Infra Shares Rally As CLSA Maintains 'Buy'

Shares of J kumar Infraprojects surged as much as 12 per cent to hit a day high of Rs 310 after global brokerage CLSA maintained its "buy" rating on the Infrastructure company with a target price of Rs 425 per share.

J Kumar Infraprojects is engaged in the business of construction of roads, flyovers, bridges, commercial and residential buildings, sports complexes, irrigation projects and airport contracts.

CLSA expects J Kumar Infra to enter into a high growth phase, citing its strong order backlog.

J Kumar Infra's stock price can double over three years, CLSA added.

Shares of J Kumar Infraprojects ended at Rs 284, up 2.74 per cent outperforming the broad market indicator, Sensex, that ended 1.46 per cent lower.