JNK India shares hit 5% upper circuit after a 'large' order from HPCL

In an exchange filing, JNK India informed shareholders that it has received a "large order" from HPCL to set up a new process plant—HP TDAE (Treated Distillate Aromatic Extracts) unit on a lump sum turnkey (LSTK) contract basis at HPCL Mumbai Refinery.

The project is in range of ₹50 crore to ₹150 crore, the company said.

The stock opened at ₹722, up 3.1%, on the National Stock Exchange (NSE) and later jumped 5% to ₹735 apiece, its upper circuit limit.

On the BSE, the stock is trading 4.2% higher at ₹735 a unit.

JNK India shares debuted at ₹621 on the NSE in April. Since then, they have gained 18.3%.

Established in 2010, JNK India Limited is one of the major manufacturers of process-fired heaters, reformers and cracking furnaces.

It is present in the domestic and international markets. It has completed projects in Assam, Andhra Pradesh, Karnataka, Bihar, Kerala, Maharashtra, Tamil Nadu, Nigeria, Mexico, West Bengal, Gujarat, Odisha, Rajasthan and Haryana in India and globally in Algeria, Oman, and Lithuania.

Some of its clients include Indian Oil Corporation Ltd (IOCL), Rashtriya Chemicals and Fertilizers, Tata Projects, Numaligarh Refinery, a leading EPC (engineering, procurement and construction) company in Europe, a leading oil and gas exploration and production company in Oman and a Middle East arm of a European EPC company in oil and gas.