KNR Constructions

At the bourses, shares of HG Infra Engineering, KNR Constructions, and KEC International have surged up to 9.3 per cent since February 1

As on March 31, 2022, the company has an order book position of Rs 9,001 crore. With this, KNR has targeted further order book inflow of Rs 4,000 to Rs 5,000 crore for the year FY23.

The board approved dilution of entire stake held in material subsidiary companies, namely KNR Shankarampet Projects, KNR Srirangam Infra and KNR Tirumala Infra

CRISIL Ratings revised its outlook on the long-term bank facilities of the company to 'Positive' from 'Stable' and reaffirmed the rating at 'CRISIL AA-'

Public sector lender Punjab & Sind Bank said it has declared the account of IL&FS Transportation Network with total dues of Rs 149.98 crore as fraud

According to Phillip Capital increased allocation for capital expenditure will bode well for large banks, namely ICICI Bank, Axis Bank, HDFC Bank and State Bank of India

The stock will turn ex-date for bonus issue on Wednesday, February 3

The recently won contract is likely to strengthen KNR's order position further, said ICICI Securities

In the past one week, stock of the construction & engineering company has rallied 17 per cent after the company on Monday, December 14, announced bonus issue plan

The board of directors of the company is schedule to meet today to consider declaration of bonus shares and other related issues

The board of directors of the Company is scheduled to meet on Friday to consider declaration of bonus shares and other related issues

Analysts expect better order flows, improving labour availability and rising construction activities to boost second half performance

Analysts believe the company is well-placed to execute projects much better than its peers given its ability to win orders and maintain healthy margins

In December last year, Union minister for road transport and highways Nitin Gadkar had informed the Parliament that the ministry has 318 ongoing arbitration cases worth nearly Rs 80,000 crore

KNR Constructions announced to sell its entire equity stake in a toll road BOT asset of special purpose vehicle (SPV) viz KNR Walayar Tollways Private Limited (KWTPL) to Singapore-based Cube Highways.

TOT is an asset monetisation model, where the government transfers the right to operate and maintain a highway to successful bidder for a period of 30 years.

The stock rallied 8% to Rs 225 on Thursday, extending its Wednesday's 3% gain on BSE, on the expectation of strong earnings growth over the medium-term.

At 11:30 am, the stock was trading at Rs 207 apiece on BSE, up 3.04 per cent.

In the past one-month, the stock outperformed the market by gaining 18% from Rs 143 (adjusted to stock split) on November 11

The stock hit a 52-week high of Rs 765, up 5.5% on the BSE in an early morning trade