GPT Infra shares experienced a significant surge on Monday, September 2, 2024, following the announcement of a new project win worth Rs 204 crore. The construction engineering company secured the contract from CAO Construction, South Eastern Railway Kolkata, to build two Road Over Bridges (ROBs).
The project details
The first ROB will be a three-lane structure located between Andul and Sankrail Stations. The second ROB will be a two-lane structure situated between Nalpur and Bauria Stations. Both projects are under the supervision of the Deputy Chief Engineer/Construction/Garden Reach, South Eastern Railway.
Impact on stock price
News of the project win sent GPT Infra shares soaring, reaching an intraday high of Rs 186 per share. This represents a 4.96% increase from the previous day's closing price. The positive market sentiment reflects investors' confidence in the company's ability to execute the project successfully and generate revenue.
Company overview
GPT Infraprojects Limited, headquartered in Kolkata, is a well-established infrastructure company with a proven track record in constructing large bridges and ROBs for both railway and road projects. The company has been operating for over four decades, making it a solid choice for investors seeking stability and experience in the infrastructure sector. If you are looking to invest in stock market, this could be a promising opportunity for those interested in the Indian railway market and its potential growth.
Market capitalisation and stock performance
GPT Infraprojects has a market capitalisation of Rs 2,226.54 crore. The stock's 52-week high is Rs 207 per share, while its 52-week low is Rs 40.5 per share. As of 10:48 AM on September 2, 2024, the shares were trading at Rs 176.20 per share, down slightly from the intraday high but still showing a positive trend.
In conclusion, GPT Infra's recent project win has boosted investor confidence and driven the stock price higher. The company's expertise in railway infrastructure projects, coupled with the positive outlook for the Indian construction sector, suggests that GPT Infra is well-positioned for continued growth.
For android only