Infra Stock Jumps Over 10% After Emerging L1 for Rs 483.7 Crore Railway Order
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GPT Infraprojects shares jumped over 10% after the company emerged as the L1 bidder for a Rs 483.7 crore railway bridge construction order from Rail Vikas Nigam Ltd.
✨ Key Takeaways
GPT Infraprojects Ltd shares gained sharply on Wednesday after the company was declared L1, or the lowest bidder, for a Railway infrastructure project worth Rs 483.7 crore, including GST.
The stock opened at Rs 107.55 against its previous close of Rs 107.72. It subsequently climbed to an Intraday high of Rs 119.13, marking a gain of around 10.6 per cent from the previous close.
However, gains were eroded in the session, and at 3:15 the stock was trading at Rs 111.60, reflecting a gain of 3.60 per cent.
GPT Infraprojects Declared L1 for Rs 483.7 Crore Order
GPT Infraprojects Ltd has been declared the L1 bidder for a contract awarded by Rail Vikas Nigam Ltd (RVNL).
The contract has a total value of Rs 483.7 crore, including GST. The value before GST stands at Rs 410 crore.
The project involves the Construction of Important Bridge 544, comprising 32 spans of 65.84 metres each. The bridge will be an open web steel girder structure over the Mahanadi river.
The bridge will be constructed at Ch. 406.305 km as part of the development of the third and fourth railway lines between the Nergundi and Barang section in the Khurda Road Division of East Coast Railway.
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The project is part of the ongoing expansion and strengthening of railway infrastructure in the region.
About GPT Infraprojects Ltd
GPT Infraprojects Ltd is engaged in the execution of civil and infrastructure projects. The company also manufactures concrete railway sleepers, giving it exposure to the railway infrastructure segment.
Disclaimer: The article is for informational purposes only and not investment advice.