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KNR Constructions jumps 18% in six days

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KNR Constructions rose 1.40% to Rs 137.25 at 10:09 IST on BSE, extending gains for the sixth consecutive day, after a consortium of the company bagged an order worth Rs 225.27 crore.


The company announced the new order win during trading hours on Wednesday, 3 March 2010, when the stock had risen 2.34% to Rs 135.35.


Meanwhile, the BSE Sensex was down 60.39 points, or 0.36% to 16,939.62.


On BSE, 6,337 shares were traded in the counter as against an average daily volume of 22,993 shares in the past one quarter.


The stock hit a high of Rs 138.25 and a low of Rs 136 so far during the day. The stock had hit a 52-week high of Rs 143 on 2 February 2010 and a 52-week low of Rs 33.20 on 24 March 2009.


The stock has risen 17.86% in six trading sessions from a recent low of Rs 116.45 on 23 February 2010.


The small-cap stock had underperformed the market over the past one month till 3 March 2010, rising 2.97% as compared to the Sensex's return of 3.06%. It had outperformed the market in the past one quarter, gaining 16.68% as compared to the Sensex's decline of 1.08%.


The company's equity capital is Rs 28.12. Face value per share is Rs 10.


The current price of Rs 137.25 discounts the company's Q3 December 2009 annualized EPS of Rs 25.41, by a PE multiple of 5.40.


The company's 50:25:25 joint venture with JKM Infra Projects and Kamala Constructions has secured the latest order from Water Resources Department, government of Bihar for construction works of Eastern Kosi canal system in the state.


KNR Constructions' net profit rose 37.9% to Rs 17.86 crore on 17.5% increase in net sales to Rs 174.20 crore in Q3 December 2009 over Q3 December 2008.


KNR Constructions is an infrastructure development company, which provides engineering, procurement and construction management services across the roads and highways, irrigation and urban water infrastructure sectors.



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