G R Infraprojects hits 52-week low after emerging as lowest bidder for two NHAI projects

The bid includes construction of 4/6 Lane Bypass for Belagavi City in the state of Karnataka on Hybrid Annuity Mode (HAM) Package 1 with a project cost of Rs 897.37 crore

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Shares of G R Infraprojects dropped to a 52-week low intraday on March 28, even after the company was declared the  L?1 (lowest) bidder for the two projects of National Highways Authority of India (NHAI) worth of Rs 1,613.8 crore on hybrid annuity mode.

After hitting a a fresh low of Rs 932.85 apiece, at 13:28 hrs the stock pared some of the losses and traded at Rs 941.00 apiece on the BSE, down Rs 43.25 or 4.39 percent. The benchmark Sensex was  35.26 down points or 0.06 percent at 57,618.60.

The bid includes construction of 4/6 Lane Bypass for Belagavi City in the state of Karnataka on Hybrid Annuity Mode (HAM) Package 1 with a project cost of Rs 897.37 crore.

The completion period is 912 days from the date of appointed and the operation period is 15 years from commercial operation date.

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The other project is construction of 4 Lane with Paved Shoulders in the State of Karnataka on Hybrid Annuity Mode (Package?5) under NH(O).

The project cost is Rs 716.47 crore.

The completion period is 730 days from the date of appointed and the operation period is 15 years from commercial operation date.