GR Infraprojects rallies 3 percent on the back of project bid worth Rs 737 crores

Construction Project

Shares of GR Infraprojects rallied 3 percent to Rs 1019 at 09:57 am on NSE after the company emerged as L‐1 bidder for a project on construction of 4‐lane highway with paved shoulders from Km 74.700 to Km 112.950 of NH‐731A (i/c Yamuna Bridge). The project is located in Kausambhi, Uttar Pradesh. It will be constructed on hybrid annuity mode (HAM) as per a recent BSE filing.

The project invited by Ministry of Road Transport and Highways has a bid project cost of Rs 737.17 crores and the period of completion of the same is 730 days from appointment date. Whereas operation period is 15 years from commercial operation date.

GR Infraprojects limited stock has lost 13.41 percent of its value since the start of 2023. Thus, underperforming the Nifty50 benchmark index which has given a 0.1 percent return during the same period.

Whereas on a 5-year basis also GR Infraprojects stock has again underperformed the benchmark Nifty50 index by a considerable margin. The GR Infraprojects stock has lost over 41 percent of its value over the past 5 years. The Nifty50 benchmark index on the other hand has given a return of 70.72 percent during the same duration.