The shares of this construction company hit the upper circuit, the price increased by 20 percent

The share price of construction company KNR Construction touched the upper circuit of 20 percent today. After this surge, the share price of the company has reached the level of Rs 407.30 in BSE. Which is 52 week high. The share price of this company has seen an increase of 35 percent in the last 2 trading days. So local investors have got more than 58 percent return in 3 weeks.

KNR Construction is a leading company in the infrastructure sector. The company provides its services for construction of irrigation, flyovers, highways etc. The company is working on different projects in Kerala, Andhra Pradesh, Karnataka, Tamil Nadu, Kerala and Bihar.

This year's budget has given more emphasis on roads

Road CAPEX was increased by 11 percent in the budget presented this year. Which has brought huge opportunities for companies like KNR Construction. Recently the company received Rs. 1200 crores worth of work has been received. Currently the company has Rs. 6505 crores worth of work.

How were the last 6 months in the stock market?

The company's share price has seen an increase of over 42 percent during this period. Investors who have held the stock for over a year have seen returns of over 55 percent so far.

Promoters hold more than 50 percent stake

The promoters' total stake in the company is more than 51 percent. In which Kamidi Narasimha Reddy holds 32.5 percent share. Among domestic institutional investors, HDFC Mutual Fund has a stake of 8.5 per cent.