Shares of this small-cap stock associated with the business of civil construction jumped around 2 percent in Monday’s trading session after Mr. Sunil Singhania, through its fund, bought 10 lakh shares of the company via a Bulk Deal.
With a market capitalization of Rs 3,729.93 crores, the stocks of J Kumar Infraprojects Limited opened their trading session on Monday at Rs 489.95 and closed at Rs 492.95, gaining approximately 2 percent compared to the previous close of Rs 484.45 apiece.
Such stock price movements were observed after Mr. Sunil Singhania, one of the well-known ace investors based in India, bought an additional stake in the company.
As per the Bulk Deal data available with the NSE, the ace investor, through its fund, i.e., Abakkus Diversified Fund, bought a total of 10 lakh shares at an average trading price of Rs 455.50 per share. On the other hand, Gaganbase Vincom Private Limited sold 5 lakh equity shares at the same average trade price.
Mr. Sunil Singhania took an entry into the stocks of J Kumar Infraprojects Limited in June 2022, and, as per the latest quarter ended September 2023, he held his holdings constant, viz, 20.05 lakh shares equating to a 2.65 percent stake in the company.
Coming onto the financials, the company, during the recent quarters, reported an opposing movement as far as the operating revenues and after-tax profits are concerned.
The former, on one hand, reduced marginally from Rs 1,131.33 crores during Q1FY23-24 to Rs 1,104.18 crores during Q2FY23-24, and, the latter, on the other hand, rose slightly from Rs 72.83 crores to Rs 73.44 crores.
As per the recent presentations, the company portrays a total order book size of Rs 16,447 crores. Out of the same, 31 percent is constituted of orders for elevated corridors/flyovers, 27 percent towards orders for roads & road tunnels, and the rest towards other segments. The geographical mix portrayed the majority of orders coming from the state of Maharashtra.
J Kumar Infraprojects Limited is an infrastructure development company engaged in the business of construction of roads, bridges & flyovers, housing & commercial complexes airport contracts, etc. The group serves various infrastructure projects such as civil construction, transportation engineering, irrigation projects, and piling work.
Written by Amit Madnani
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