J.Kumar Infraprojects Share Price Today: Shares of smallcap company J.Kumar Infraprojects were locked in 20 per cent upper circuit to hit its 52-week high mark of ₹593.20 apiece on the BSE, after global brokerage firm CLSA maintained its “buy" call on the stock but increased its price target by 87 per cent to ₹720 from ₹385 earlier. "With the rise in its new orders and our 11 per cent higher FY25CL EPS estimate, we also roll forward our valuation and see a rerating as the government delivers on urban capex," said the brokerage. The new target translates to an upside potential of nearly 50 per cent from the previous close.
"J.Kumar Infraprojects is well placed to benefit from the megatrend of urbanisation with its competencies in metro rail and complex urban projects," it added. Also Read: Brokerage maintains ‘buy’ on ONGC, Oil India as Brent hovers at $80/bbl; Dividend pay, valuations among key reasons Earlier this month, J Kumar Infraprojects bagged the order from the Tamil Nadu Government to construct a four-lane elevated corridor on the Grand Southern Trunk Road, one of Chennai’s main arterial roads. The proposed construction cost of the project is ₹582 crore, according to the exchange filing.
The Mumbai-based developer will construct this corridor in EPC mode (Engineering, Procurement, and Construction) within an anticipated completion period of 24 months. The 3.2 km-long elevated corridor will connect Teynampet and Saidapet, on the busy Anna Salai Road. The company had also bagged a construction order in Mumbai worth ₹378.7 crore this month.
Read more on livemint.com