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KNR Constructions Surges on Bagging New Orders

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Shares of KNR Constructions surged over 7 per cent to hit intraday high of Rs 474 in an otherwise subdued market after the company said that it had won three orders worth Rs 729 crore.

KNR Constructions on Monday said that it received three orders from a Tamil Nadu government undertaking for upgradation of roads.

The first order is for developing "Kanchipuram-Vandavasi road and Sdras-Chengalpattu-Kancheepuram-Arakonam-Thiruthani road", which is to be completed within a period of 36 months from the appointed date, it said.

The second project is for upgrading "Arcot Villupuram Road" which is to be completed within a period of 42 months from the appointed date.

The third order is for "upgrading Malliyakarai-Rasipuram-Thiruchengode-Erode Road," KNR Constructions said.

Apart from these orders, the company has also received its first international order worth Rs 515.33 crore from Chittagong Development Authority, Bangladesh for construction Chittagong 's outer ring road.

The stock ended 4.6 per cent higher at Rs 460. 



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