JNK India share price hit the upper price band in August 16 trading session after the heating equipment maker bagged a major order from PSU firm Hindustan Petroleum Corporation Limited (HPLC).
The counter opened gap-up with a gain of 3.14 percent today and touched an intraday high of Rs 735 per share on the National Stock Exchange (NSE), hitting the 5 percent upper price band from its previous close of Rs 700 apiece. The scrip gained after two days of consecutive fall.
On BSE, the stock was trading at Rs 738, zooming 4.68 percent.
The company informed the shareholders through a regulatory filing that it bagged a large order from Hindustan Petroleum Corporation Limited on August 14, 2024 for setting up a new Process Plant - HP TDAE (Treated Distillate Aromatic Extracts) unit on LSTK (Lump sum Turnkey) contract basis at HPCL Mumbai Refinery.
The project cost is about Rs 50 - 150 crore, the company said in a statement.
The counter witnessed sharp uptick in the price movement shortly after it informed the exchanges on the order win. In today's session, the counter outperformed the sector by 3.88 per cent.
JNK India share price has surged over 18 per cent since its listing on April 30 this year at Rs 621 per share on the NSE. On BSE, it started the trade at Rs 620 apiece, up 49.39 percent from the issue price.
The company’s market valuation stood at Rs 4,083.97 crore.
The company is engaged in the business of thermal designing, engineering, manufacturing, supplying, installing, and commissioning heating equipment and caters to both domestic and overseas markets.
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