KNR Constructions gains on selling entire stake in subsidiary company

30 Sep 2020

KNR Construction is currently trading at Rs. 254.00, up by 1.45 points or 0.57% from its previous closing of Rs. 252.55 on the BSE.

The scrip opened at Rs. 254.05 and has touched a high and low of Rs. 256.65 and Rs. 250.25 respectively. So far 6980 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 311.05 on 30-Jan-2020 and a 52 week low of Rs. 171.65 on 26-Mar-2020.

Last one week high and low of the scrip stood at Rs. 258.00 and Rs. 241.75 respectively. The current market cap of the company is Rs. 3538.63 crore.

The promoters holding in the company stood at 55.03%, while Institutions and Non-Institutions held 35.63% and 9.34% respectively.

KNR Constructions has successfully completed sale of its subsidiary company -- KNR Walayar Tollways to Cube Highways and Infrastructure III Pte. The enterprise value of the assets for this transaction is Rs 511.78 crore excluding claims receivable from NHAI and other governmental instrumentalities, which would be passed through to the company as and when realised.

KNR Constructions is a multi-domain infrastructure project development company providing (EPC) engineering, procurement and construction services across various fast growing sectors namely roads & highways, irrigation and urban water infrastructure management.

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