GPT Infraprojects Shares Surge Over 8% After Winning Rs 135 Crore Order
The contract is a joint venture with North Central Railways, in which GPT Infraprojects' share stake is 51%.
Shares of GPT Infraprojects Ltd. rose over 8% on Thursday after it secured an order worth Rs 135 crore from North-Central Railways.
The order from the North Central Railways in Uttar Pradesh is for earthwork on embankment, construction of minor bridges, subways, side drains, and toe walls, the company said.
The contract is a joint venture with North Central Railways, in which GPT Infraprojects' share stake is 51%.
Shares of GPT Infraprojects rose 8.83% to Rs 188.00 apiece, touching the highest level since March 2. After paring initial gains, it was trading 3.47% higher at Rs 178.75 as of 9:53 a.m. This compares to 0.05% decline in the NSE Nifty 50.
The stock has gained 262.58% in past 12 months. Total traded volume so far in the day stood at 15 times its 30-day average. The relative strength index was at 47.39.