India Ratings & Research (Ind-Ra) has upgraded J Kumar Infraprojects (JKIL) Long-Term Issuer Rating to 'A' from 'A-'. The outlook is stable. The upgrade reflects JKIL's strong operating performance in 1HFY15, demonstrating the successful implementation of its diversification strategy through wider geographic presence and higher complexity of projects.

The progress of the company's Delhi Metro Rail Corporation (DMRC) projects reflects its ability to execute complex projects. The two DMRC projects which involve underground tunnelling and the construction of five underground stations have seen increased revenue booking in 1HFY15.

The company has completed four tunnels till date and the construction of the metro station is underway. With one of the projects receiving right of way during FY14, execution is likely to progress.

Shares of the company declined Rs 6.45, or 1.34%, to settle at Rs 476.35. The total volume of shares traded was 2,067 at the BSE (Wednesday).