India's KNR Constructions hits near 3-week high on $42.5 mln order win

KNR Constructions

14/09/2021 07:05

** Shares of infrastructure development co  KNRL.NS  rise as
much as 6.56% to 324 rupees, their biggest intraday gain since
Aug. 26
    ** Co on Monday said it got letter of acceptance for a road
project worth 3.13 bln rupees ($42.52 mln)
    ** The project is to be completed within a period of 15
months from the date of signing of agreement, KNRL said
    ** Sixteen out of 19 analysts covering stock rate it at
"buy" or "strong buy"; 3 "hold" - Refinitiv data
    ** About 1.1 mln shares change hands vs 30-day avg of 1.3
mln shares
    ** KNRL shares up 87.5% this year as of last close
    
($1 = 73.6080 Indian rupees)

 (Reporting by Nallur Sethuraman in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (Within U.S.
1-646-223-8780, Outside U.S. +91 8067496031); Reuters Messaging:
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