Here’s Why This Small-Cap Stock Rallied 17% on Thursday; Session Ended 10% High

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Here’s Why This Small-Cap Stock Rallied 17% on Thursday; Session Ended 10% High
Credit: © Reuters.

By Malvika Gurung

Investing.com -- Shares of the construction and engineering major JMC Projects (India) Ltd (NS: JMCP ) have surged almost 10% to close Thursday’s session at Rs 100.5 apiece on the NSE, after soaring 17% to Rs 106.9 apiece during early trade hours today, compared to its previous close at Rs 91.5.

The stock’s surge is a result of the construction EPC company’s announcement of securing new domestic orders worth Rs 1,795 crore. These include water supply projects worth Rs 1,085 crore and Buildings & Factories (B&F) projects worth Rs 710 crore in the country.

Taking into account the two new orders, JMC Projects’ order inflows for the ongoing financial year has exceeded Rs 9,750 crore, reflecting a strong growth outlook for the upcoming quarters.

JMC Projects is a subsidiary of Kalpataru Power (NS: KAPT ) Transmission and ranks among the leading civil construction and infrastructure engineering, procurement and construction companies in the country.

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