This Ace Investor Ashish Kacholia stock specialising in providing integrated solutions in the power transmission and distribution sector, jumps 10 percent upon receiving a work order worth Rs. 741.28 Crores from PowerGrid Corporation of India Limited.
Price action
With a market capitalization of Rs. 2,025.74 crores on Friday, the shares of Jyoti Structures Limited trading at Rs.24.8 jumped 10 percent, making a high of Rs. 24.81 per share compared to its previous closing price of Rs. 22.56 per share.
What Happened
Jyoti Structures Limited specialising in providing integrated solutions in the power transmission and distribution sector has received a domestic order worth Rs. 741.28 crores from Powergrid Corporation of India Limited.
This significant order is for the design, supply of towers and all line materials including Conductor, Survey, Soil Investigation, Foundations, Erection, Stringing, Testing and commissioning of a ± 800 kV HVDC Bipole Line between KPS2 and Nagpur.
The project is located in Khavda, Gujarat and has a completion period of 42 months. This is the highest value EPC order the company has received in recent years.
About the company
Jyoti Structures Limited (JSL) is a leading Indian engineering, procurement, and construction (EPC) company specializing in offering services in the design, supply, erection, and commissioning of transmission lines, substations, and power systems. JSL is known for its expertise in executing large-scale projects both domestically and internationally.
Ace Investor Stake
Ashish Kacholia holds around 1,80,00,000 shares which consists of around 2.00 percent stake in the company as of December 2024.
Financials
The company’s total revenue rose by 29.5 percent from Rs 84.35 crore to Rs 109.29 crore in Q2FY24-25. Meanwhile, Net profit declined from Rs. 11.2 crores to Rs 7.06 crore during the same period.
Written by Sridhar J
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