Tit - bits
There was also media reports that the risk-reward ratio is skewed firmly towards the negative for Reliance Industries Ltd (Rs.1731.15) shares after the run-up in stock price, says Foreign brokerage house Macquarie.
The Snsex fell 246.71 points or 0.70% to 35,183.72, while the Nifty50 slipped 66.45 points or 0.63% to 10,404.55.
The market breadth however was positive. On the BSE, shares 1319 rose and 1307 dhares fell. A total of 134 shares were unchanged.
Foreign portfolio investors (FPIs) bought shares worth Rs.168.96 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs.454.40 Cr.
#The stock of Kolkata based infrastructure firm, MBL Infrastructure Ltd, hit the 5th consecutive buyer freeze today to touch Rs.6.75 in the NSE. There are news reports that Bengal is recovering from the Choronavirus outbreak, very fast. I'm expecting the scrip to cross Rs.10 in the coming days.
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| Photo: Metro Rail News |
Jay Kumar Infrastructure and CRTG JV has resumed their work for the construction of 6.079 km long Swami Samarth Nagar - Shyam Nagar section. The civil construction work of value Is. 867.75 crore was awarded to the consortium on 7 August, 2019.
China Railway Tunnel Group Co Ltd (CRTG), a Chinese Construction firm, in a joint venture with J Kumar Infraprojects Ltd is building parts of Metro-2A (Dahisar-DN Nagar) and Metro-6 (Swami Samarth Nagar-Vikhroli).
The company last month released a statement to the stock exchanges stating that it had received a letter of acceptance (LoA) from Mumbai Metro Rail Project (MMRDA) for the construction of part design and elevated viaduct. The work is part of the balance work of package 1, line 7 elevated viaduct.
This excludes station viaduct, architectural finishing and pre-engineered steel roof structure of station. As per the construction terminology, the said project extends from chainage Ch (-) 525.903m (Pier P1E) to Ch (+) 5,801.297m (Pier P 278) Andheri (East)- Dahisar (East) corridor of Mumbai Metro Rail Project.
The company has an whooping order book of Rs.12,443 crore as of the end of third quarter of FY20, which translates nearly three times of its TTM revenue.
Despite such strong order inflows, the stock is trading below Rs.100 due to the fear of slow execution, owing to the nationwide lockdown. But since, we are now perhaps at the last stage of the nationwide Lockdown, the shares are likely to take off exponentially from here.
Its industry peer, Dilip Buildcon (Rs. 285.65) is trading at market cap, well below their annual sales.
China Railway Tunnel Group Co Ltd (CRTG), a Chinese Construction firm, in a joint venture with J Kumar Infraprojects Ltd is building parts of Metro-2A (Dahisar-DN Nagar) and Metro-6 (Swami Samarth Nagar-Vikhroli).
The company last month released a statement to the stock exchanges stating that it had received a letter of acceptance (LoA) from Mumbai Metro Rail Project (MMRDA) for the construction of part design and elevated viaduct. The work is part of the balance work of package 1, line 7 elevated viaduct.
This excludes station viaduct, architectural finishing and pre-engineered steel roof structure of station. As per the construction terminology, the said project extends from chainage Ch (-) 525.903m (Pier P1E) to Ch (+) 5,801.297m (Pier P 278) Andheri (East)- Dahisar (East) corridor of Mumbai Metro Rail Project.
The company has an whooping order book of Rs.12,443 crore as of the end of third quarter of FY20, which translates nearly three times of its TTM revenue.
Despite such strong order inflows, the stock is trading below Rs.100 due to the fear of slow execution, owing to the nationwide lockdown. But since, we are now perhaps at the last stage of the nationwide Lockdown, the shares are likely to take off exponentially from here.
Its industry peer, Dilip Buildcon (Rs. 285.65) is trading at market cap, well below their annual sales.
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