JMC Projects rises on getting nod to raise funds upto Rs 150 crore

25 May 2018

JMC Projects is currently trading at Rs. 665.10, up by 1.70 points or 0.26% from its previous closing of Rs. 663.40 on the BSE.

The scrip opened at Rs. 671.85 and has touched a high and low of Rs. 673.00 and Rs. 665.10 respectively. So far 350 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 688.00 on 11-Jan-2018 and a 52 week low of Rs. 264.00 on 25-May-2017.

Last one week high and low of the scrip stood at Rs. 680.25 and Rs. 635.00 respectively. The current market cap of the company is Rs. 2227.77 crore.

The promoters holding in the company stood at 67.19%, while Institutions and Non-Institutions held 15.03% and 17.79% respectively.

JMC Projects has received approval from its board for raising funds by way of issue of Secured/Unsecured Redeemable Non-Convertible Debentures (NCDs) for an aggregate amount upto Rs 150 crore in one or more series/tranches, on private placement basis. The meeting of the Board of Directors of the company held on May 24, 2018, have approved the same.

JMC, a subsidiary of Kalpataru Power Transmission, is India’s one of the leading contracting company. The company is mainly engaged in the construction of industrial and residential buildings and also power and infrastructure development projects.

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