Shares of this small-cap construction company surged on getting LoA from NHAI

The shares of this company jumped up by more than 3.5% today.

About the LoA

National Highways Authority of India (NHAI) has given G R Infraprojects a letter of award dated March 31, 2023, for the construction of a 6-lane greenfield Varanasi-Ranchi-Kolkata highway between the villages of Anarbansalea and Sagrampur (from KM. 151+200 to KM. 184+700, Pkg. 7, Total Length = 33.50 Km) as part of the Bharat (Package 7). The project's proposed project cost is Rs 1248.37 crore. The project will take 730 days to complete from the designated date, and it will run for 15 years from the date of commercial operation.

Share Price Movement of G R Infraprojects Ltd

The scrip opened at Rs. 1,015 and touched a high and low of Rs 1,054.15 and Rs 1,1015, respectively. Its 52-week high stood at Rs 1,624.40 whereas its 52-week low was Rs 930. The current market cap of the company is Rs 10,048.41 crore. Promoters hold 79.74 per cent, whereas Institutional and non-institutional holdings are 16.48 and 3.78 per cent respectively.

About the Company

G R Infraprojects is an integrated road engineering, procurement, and construction (EPC) company with experience in the design and building of different road/highway projects throughout the States of India. More recently, the company has expanded into projects in the railway industry. EPC and BOT projects in the road industry make up the company's primary business in civil construction. Since 2006, it has completed more than 100 road construction initiatives. Additionally, it has expertise in building bridges, culverts, flyovers, airport runways, tunnels, and rail over-bridges on both state and federal highways. Over time, it established a successful road EPC company and added facilities gradually to support and enhance its road construction business.