GPT Infra Share Price Surges Over 11% After Company Secures Major Contract
GPT Infraprojects share price rose as much as 11.12% to Rs 133.59 apiece.
GPT Infraprojects Ltd. saw its share price surge by over 11% on Wednesday following the announcement of a contract win. The company has been awarded a contract worth Rs 481.11 crore by CAO Construction, South Eastern Railway, Kolkata, for the construction of an important bridge over the River Rupnarayan.
The contract involves the construction of Bridge No. 57 for the Down and Middle Line, including viaducts on either approach and elevated platforms at Kolaghat Station on the Howrah-Kharagpur route. The project will be executed on an Engineering, Procurement & Construction (EPC) mode.
GPT Infraprojects Ltd., a flagship company of GPT Group, is a premier infrastructure company based in Kolkata. Incorporated in 1980, GPT Infra operates through two main segments: Infrastructure and Sleeper. The company is a well-established player in railway-focused infrastructure, specialising in the execution of civil and infrastructure projects, particularly large bridges and road over bridges (ROBs) for railways and roads under government contracts. In the Sleeper segment, GPT Infra manufactures and supplies concrete sleepers for railways in India and Africa.
The scrip rose as much as 11.12% to Rs 133.59 apiece. It pared gains to trade 4.23% higher at Rs 125.30 apiece, as of 1:16 p.m. This compares to a 0.53% advance in the NSE Nifty 50 index.
It has risen 39% in the last 12 months. Total traded volume so far in the day stood at 3 times its 30-day average. The relative strength index was at 67.
