Following the announcement, the stock fell as much as 12.95% from the day’s high of ₹553.55 to an intraday low of ₹481.85 on the BSE. The stock later recovered some losses to close at ₹490, down 10% for the day.
The company, however, did not disclose the reason for the cancellation in its exchange filing.
The development comes just days after JNK India announced a series of sizeable order wins that had strengthened its execution pipeline.
Earlier this month, the company secured a large overseas order from CC7 Emirates Engineering Solutions L.L.C
., UAE, for the TA’ZIZ Salt Project being developed for ADNOC in Abu Dhabi.
The contract, valued in the range of ₹100 crore to ₹300 crore, involved the design, engineering, manufacture, procurement and supply of an incinerator package, along with assistance for erection, commissioning and performance testing. The project was scheduled to be executed by December 2027.
Separately, JNK India bagged a major order worth ₹300 crore to ₹600 crore from its Korean promoter, JNK Global earlier this year. The contract covers support services and supplies for the cracker furnace package of a refinery project in India and is scheduled for completion by February 2028.
The recent order wins had reinforced the company’s growing international order book, making Thursday’s cancellation announcement a key development for investors.
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JNK India designs and manufactures process-fired heaters, reformers, cracking furnaces and other thermal engineering solutions used across the oil & gas, refinery, petrochemical, fertiliser and hydrogen industries.
