Share price of JMC Projects declined 5 percent intraday on August 29 after its parent company received a notice from the World Bank.
The company's holding company Kalpataru Power Transmission (KPTL) has received a notice from the World Bank alleging process violations in bids submitted by its transmission business on two projects in Africa more than 7 years ago, as per company release.
KPTL disagrees with the bank's position and intends to contest the proceedings vigorously.
At 1231 hrs, JMC Projects (India) was quoting at Rs 114.20, down Rs 4.80, or 4.03 percent.
Shares of Kalpataru Power Transmission was quoting at Rs 443, up Rs 1.95, or 0.44 percent.
The share touched its 52-week high Rs 150 and its 52-week low Rs 67 on 27 May, 2019 and 8 October, 2018, respectively.
Currently, it is trading 23.87 percent below its 52-week high and 70.45 percent above its 52-week low.
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