KNR Constructions share price jumped over 3 percent in the morning session on March 31 after the company received a letter of acceptance (LoA) for an NHAI project in Kerala.
The company got the letter of acceptance for the six-laning of the Ramanattukara Junction to start off the Valanchery bypass section of NH-66 (old NH-17) on hybrid annuity mode under Bharatmala Pariyojana in Kerala.
The stock was trading at Rs 214.55, up Rs 7.60, or 3.67 percent, at 0925 hours. It has touched an intraday high of Rs 219 and an intraday low of Rs 209.80.
"We herewith intimate to the exchange that the company is in receipt of Letter of Acceptance for six-laning of the Ramanattukara Junction to start ohf the Valanchery bypass section (old NH-17) from Design Ch. 258+818 (Ex. km 27.840 of Kozhikode bypass) to Design Chainage 298+500 (Ex. km 304.250) on Hybrid Annuiry Mode under Bharatmala Pariyojana in the state of Kerala," it said in an exchange filing.
The project bid cost was Rs 2,367 crore and the company bid was Rs 2,116 crore, it added.
According to Moneycontrol SWOT Analysis powered by Trendlyne, the company has zero promoter pledge with book value per share improving over the last two years.
Moneycontrol technical rating is very bullish with moving averages and technical indicators being bullish.