Shares of J.Kumar Infraprojects, where Mukul Mahavir Agrawal is a key investor, jumped nearly 4% in intraday trade on Monday, March 24, following the announcement of an order win amounting to ₹1,020.70 crore from City and Industrial Development Corporation of Maharashtra (CIDCO).
The company in an exchange filing today said it is in receipt of a “Letter of Acceptance” from M/s. City and Industrial Development Corporation of Maharashtra (“CIDCO”) Limited. The project involves the design and construction of a coastal road from Jalmarg Sector-16, Kharghar to the PMAY Housing scheme near Kharghar Railway Station and pedestrian underpass near Delhi Public School, Nerul, Navi Mumbai. The total contract value amounts to ₹10,20,70,21,000 or ₹1020.70 crore and is exclusive of GST.
This is the second major order win for the company this month as earlier on March 7 it announced an order worth ₹120.87 crore from Railway Vikas Corporation Limited, a public sector undertaking (PSU).
As per the exchange filing, the word involved, “Construction of Major Bridges (Br. 66, 72 & 78), ROB at Vasai, Vehicle Subway (Br. 71), Minor Bridge (Br. 79, 79A), Drain (CH: 54836 to CH: 55336) & Earthwork (CH: 38850 to CH: 39750 & CH: 53300 to CH: 55750) from Borivali station to Nallasopara station in connection with the proposed 5th & 6th line between Borivali-Virar Stations of Western Railway under the Mumbai Urban Transport Project (MUTP)- Phase IIIA.”
J.Kumar Infra share price trend
Following today’s order book update, the small-cap stock jumped nearly 4% during the trading session today. J.Kumar Infra share price opened at ₹685 apiece, higher than its previous close of ₹678.15. It extended gains to the day’s high of ₹705, up 3.94% over its last closing price. Meanwhile, its day’s low stands at ₹683.20 apiece.
Despite today’s sharp gains, the stock remains in the red on a year-to-date (YTD) basis, shedding 9.10% during this period. It has seen some recovery off late amid a rebound in the Indian stock market, with the scrip gaining 4.71% in the past one month.
In the last one year, J.Kumar Infra share price has surged 12% while in the past five years, it has emerged as a multibagger stock, rallying 892%, taking its market capitalization to ₹5,275 crore.
The stock is also part of ace investor Mukul Mahavir Agrawal’s portfolio. As of the end of the December 2024 quarter, he held a 2.61% stake in the company or 19,75,000 shares, according to shareholding data on the BSE.
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