GPT Infraprojects gains on Rs 216-crore order win

The Kolkata-based infrastructure company has been asked by Maharashtra Rail Infrastructure Development Corporation Limited to build proposed extensions to the Ghatkopar overbridge in Mumbai

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GPT Infraprojects stock price jumped over 5 percent in the afternoon session on January 16 after the firm bagged an order worth Rs 216 crore.

The Kolkata-based infrastructure company got a project from Maharashtra Rail Infrastructure Development Corporation Limited for the proposed extensions of the Ghatkopar Cable Stayed Road Over Bridge in Mumbai, the firm said in a BSE filing.

At 2.19 pm, GPT Infraprojects was quoting at Rs 55.35, up Rs 2.35, or 4.43 percent, on BSE. The scrip was trading with volumes of 15,656 shares, compared to its five-day average of 3,874, an increase of 304.09 percent.

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GPT Infraprojects is engaged in the execution of civil and infrastructure projects, especially large bridges and rail overbridges for the railways.

The company manufactures and supplies concrete sleepers for railways in India and Africa. Its concrete sleeper business is spread over South Africa, Namibia, Bangladesh and Sri Lanka.

The company has orders worth approximately 2,201 crore, including a cumulative order inflow of Rs 855 crore in the current financial year, it said.

In the quarter gone by, GPT Infraprojects reported a net profit of Rs 5.82 crore, up 32.74 percent from Rs 4.39 crore in the September quarter of FY21.