JMC Projects share surged 11% intraday on August 26 after the company secure new orders worth Rs 554 crore.

JMC Projects (India) Limited has secured new orders of Rs 554 crore including building projects in South India totalling to Rs 315 crore and a factory projects in Maharashtra of Rs 239 crore.

The stock price has gained over 53% in the last 3 months and was trading at Rs 59.10, up Rs 5.55, or 10.36%. It has touched an intraday high of Rs 62.20 and an intraday low of Rs 58. 

It also witnessed a spurt in volume by more than 2.21 times and was trading with volumes of 99,730 shares, compared to its five day average of 32,305 shares, an increase of 208.71%.

"We are happy with the new order wins especially in our Building & Factory (B&F) business. These new orders will strengthen our portfolio and will help us further expand our client base in the B&F market. JMC has won orders of around Rs 4000 crore till date in FY21 despite the challenging market conditions, demonstrating JMC's impeccable reputation for domain expertise, prudent tendering and client confidence," said S. K. Tripathi, CEO & Dy. Managing Director.

Our execution capabilities and strong order book give us confidence to deliver good performance going forward, he added.