However, at 11:40 AM, shares were off highs and were trading 3.15 per cent higher at Rs 800 per share. In comparison, BSE Sensex was trading 0.26 per cent higher at 80,876.11 levels.
The uptick in stock price came after the company announced that it has secured a ‘significant’ order from JNK Global. A ‘Significant’ order ranges between Rs 0 – 50 crore, JNK India said.
JNK Global is one of the promoters of the company.
In an exchange filing, JNK India said, “We wish to inform you that the Company has received a Significant* order from JNK Global Co., Ltd., Korea (“JNK Global”) on July 15, 2024 for Regeneration Furnace for a refinery project in Oklahoma, USA.”
Under the terms of contracts, the company will be responsible for the regeneration furnace for a refinery project in Oklahoma.
The project delivery is scheduled for June 18, 2025, JNK India said in a statement.
JNK India stock made a strong market debut on April 30 with its shares getting listed at Rs 621, a 50 per cent premium over its issue price of Rs 415 per share on the National Stock Exchange (NSE). Since listing on the bourses, the stock has gained 13 per cent.
Established in 2010, JNK India Private Limited specialises in Engineering, Procurement, and Construction (EPC) services, with a primary focus on the upstream and downstream sectors of Oil & Gas, Petrochemicals, Chemicals, and Fertilisers industries in India and globally.
The company is equipped with advanced design and technology capabilities for Fired Heaters, Reformers, and SMR hydrogen units.
In addition to these core areas, JNK India has expanded into technology-driven EPC projects such as Flare systems, Incinerators, Reaction Furnace Packages, and Hydrogen Refuelling Stations to diversify its portfolio.
To stress upon its commitment to environmental sustainability, JNK India has established JNK Renewable Energy Pvt Ltd, a wholly-owned subsidiary dedicated to executing EPC projects in solar energy and related sectors.
The market capitalisation of the company is Rs 4,477.21 crore, according to Bombay Stock Exchange (BSE). The 52-week high of the stock is Rs 895.40 while its 52-week low is Rs 550 per share.
First Published: Jul 16 2024 | 12:02 PM IST
