Shares of GR Infraprojects surged by nearly 3% on Tuesday after the company emerged as the lowest bidder for a significant project by Western Railways. The contract, valued at ₹262.28 crore, involves the gauge conversion of a 38.9 km track and various associated construction and engineering works, including earthwork, ballast supply, bridges, and station-related amenities.
The project covers the Kosamba-Umarpada section in the Vadodara division and includes 30 Road Under Bridges (RUBs). The company has been tasked with completing the project within 24 months from the appointment date, marking a crucial addition to its project portfolio.
Investors are also eyeing the company’s upcoming board meeting scheduled for February 1, 2025, where GR Infra’s board of directors will review and approve the unaudited standalone and consolidated financial results for the quarter ended December 31, 2024.
In December, GR Infra received a letter of intent for a transmission project in Karnataka, with a quoted project price of ₹107.7 crore per annum, further highlighting its expanding footprint in the infrastructure domain.
Stock Details: GR Infra shares traded at ₹1,296, up 2.72%, with a market cap of ₹125.22 billion. The stock saw a day range between ₹1,280.55 and ₹1,310.00, showcasing positive investor sentiment after the latest project win.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Neither the author nor Business Upturn is liable for any losses arising from the use of this information.
