This small-cap infrastructure company emerged as an L-1 bidder for projects in Uttarakhand
Shares surged after the company announced this development.
About the new projects
In the financial bid opening on February 20, 2023, for the two contracts requested by National Highways Logistics Management, GR Infraprojects was identified as the L1 bidder (NHLML). The first tender is for the construction, management, and upkeep of a hybrid annuity mode ropeway running from Gaurikund to Kedarnath in the state of Uttarakhand. The project's bid project cost is Rs 1875 crore. The project will take 1460 days to complete once it is scheduled, and 15 years will pass between construction and operation.
The second tender is for the construction, operation, and maintenance of a hybrid annuity mode ropeway running from Govind Ghat to Ghangaria to Hemkund Sahib in the state of Uttarakhand. The project's bid project cost is Rs 1738 crore. The project will take 1460 days to complete once it is scheduled, and 15 years will pass between construction and operation.
Share price movement of GR Infraprojects Limited
Scrip opened today at Rs 1,199.00 and made its day high at Rs 1,210. The 52-week high of the stock is Rs 1,624.40, whereas the 52-week low was Rs 1,074.35. Promoters hold 79.74%, whereas institutional and non-institutional holdings are 16.48% and 3.78%, respectively. Presently, the market cap of the company is Rs 11,050 crore.
GR Infraprojects is an integrated road engineering, procurement, and construction (EPC) business with expertise in the design and building of numerous 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 sector make up the company's primary activity in civil construction. Since 2006, it has completed more than 100 road construction projects. Moreover, it has expertise in building bridges, culverts, flyovers, airport runways, tunnels, and rail over-bridges on both state and federal routes.
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