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JMC Projects gains on planning to raise Rs 100 crore via NCDs

JMC Projects is currently trading at Rs. 106.85, up by 0.60 points or 0.56% from its previous closing of Rs. 106.25 on the BSE.

The scrip opened at Rs. 106.85 and has touched a high and low of Rs. 106.85 and Rs. 106.85 respectively. So far 99 shares were traded on the counter.

The BSE group ‘B’ stock of face value Rs. 2 has touched a 52 week high of Rs. 150.00 on 27-May-2019 and a 52 week low of Rs. 73.90 on 11-Oct-2018.

Last one week high and low of the scrip stood at Rs. 108.90 and Rs. 103.10 respectively. The current market cap of the company is Rs. 1794.07 crore.

The promoters holding in the company stood at 67.19%, while Institutions and Non-Institutions held 17.60% and 15.21% respectively.

JMC Projects India is planning to issue Non-Convertible Debentures (NCDs) for an aggregate value of up to Rs 100 crore on private placement basis. The proposed amount to be raised through issuance of Non-Convertible Debentures is within the borrowing limit approved by the Shareholders of the Company. The meeting of the Board of Directors of the Company is scheduled to be held on October 16, 2019, to consider the same.

JMC Projects, 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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