G R Infraprojects shares gain 2% after securing transmission project worth Rs 41.9 crore

The share touched a 52-week high of Rs 1,381.60 and a 52-week low of Rs 930.00 on 07 August, 2023 and 28 March, 2023, respectively.

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G R Infraprojects shares were up 2 percent at Rs 1,154 on January 2 after the company received letter of intent (LoI) from REC Power Development and Consultancy.

“…. has been emerged as successful bidder and has received Letter of Intent from REC Power Development and Consultancy Limited for establishment of “Transmission system for Evacuation of Power from RE Projects in Rajgarh (1000 MW) SEZ in Madhya Pradesh‐Phase II”, which is a part of Inter‐State Transmission System Network, through Tariff Based Competitive Bidding Process (TBCB),” the company said in a statement.

The annual transmission charges if Rs 41.97 crore and to be completed in 24 months with operation period of 35 years.

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In the month of December 2023, the company mutually settled the arbitral awards from National Highways Authority of India (NHAI) for the settlement amount of Rs 41.38 crore for the project of widening and strengthening of existing two-lane carriageway to four-lanes with paved side shoulders of Harike-Zira-Faridkot section of NH-15 including
construction of Zira, Talwandi and Mudki bypasses in the state of Punjab in the EPC Mode under NHDP-IV.

The share touched a 52-week high of Rs 1,381.60 and a 52-week low of Rs 930 on 07 August, 2023 and 28 March, 2023, respectively.

Currently, the stock is trading 16.47 percent below its 52-week high and 24.09 percent above its 52-week low.

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