KNR Constructions trades higher on the BSE
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KNR Constructions is currently trading at Rs. 302.00, up by 2.40 points or 0.80% from its previous closing of Rs. 299.60 on the BSE.
The scrip opened at Rs. 302.00 and has touched a high and low of Rs. 309.25 and Rs. 300.25 respectively. So far 17440 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 343.55 on 01-Sep-2021 and a 52 week low of Rs. 162.00 on 01-Jan-2021.
Last one week high and low of the scrip stood at Rs. 309.25 and Rs. 281.40 respectively. The current market cap of the company is Rs. 8500.32 crore.
The promoters holding in the company stood at 51.48%, while Institutions and Non-Institutions held 38.15% and 10.37% respectively.
KNR Constructions has transferred its 49% stake in subsidiary company ie KNR Shankarampet Projects (SPV) to Cube Highways and Infrastructure III. The transaction is contemplated to be completed in two stages, the first stage of transfer of 49% is under current intimation and the second stage scheduled to be completed after expiry of mandatory lock-in period as per the Concession Agreement subject to various regulatory approvals.
The company has invested Rs 126.81 crore (in form of equity & Sub debt) for which the company has received of Rs 108.51 crore against transfer of 49% stake and repayment of entire Sub debt through this transaction and for the balance transfer of 51% stake, the company is expected to receive a sum of Rs 37.67 crore, which may undergo some adjustments at the time of Second Closing.
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.
