KNR Constructions Hits Year-High, Stock Rises Over 8%

KNR Constructions hit a year-high of Rs 494.35 on Thursday, with shares of the company rising as much as 8.5 per cent. The company on Friday had announced order wins worth Rs 937 crore from the National Highway Authority of India (NHAI). Since then, the stock has surged over 11 per cent.

In a further boost to sentiment, the company on Tuesday in a regulatory filing had informed the stock exchanges that Tata Trustee Company Ltd on behalf of schemes of Tata Mutual Fund raised its stake in the company to 5.37 per cent from 4.30 per cent earlier through the purchase of 3 lakh shares.

At 12:24 pm, the KNR Constructions stock was trading nearly 4 per cent up at Rs 472.30, outperforming the broader Nifty and the Sensex which were trading flat.