Shares of GPT Infraprojects Limited rallied nearly 8% in Wednesday's trading session after the company emerged as the L1 (lowest bidder) for a major railway infrastructure project worth Rs 483.7 crore, including GST.
The order, awarded by Rail Vikas Nigam Limited (RVNL), involves the construction of an important bridge over the Mahanadi River in Odisha. The development strengthens GPT Infraprojects' order pipeline and presence in India's railway infrastructure sector.
As of 11:44 AM, GPT Infraprojects shares were trading higher, with the stock touching an intraday high of Rs 119.13, compared with the previous close of Rs 107.72.
GPT Infraprojects Rs 483.7 Crore Order Details
According to the company's regulatory filing, GPT Infraprojects has been declared the L1 bidder for the construction of Important Bridge 544 as part of the development of the third and fourth railway lines between the Nergundi-Barang section in the Khurda Road Division of the East Coast Railway.
The bridge will feature a 32x65.84-metre Open Web Steel Girder and will be constructed over the Mahanadi River in Odisha.
The total contract value is Rs 483.7 crore, including GST, while the order value excluding GST stands at Rs 410 crore.
GPT Infraprojects Share Price Performance
At 11:44 AM, GPT Infraprojects shares had recorded the following trading levels:
- Previous Close: Rs 107.72
- Open Price: Rs 107.55
- Today's Low: Rs 106.41
- Today's High: Rs 119.13
- 52-Week Low: Rs 96.22
- 52-Week High: Rs 150.00
- Live Volume: 10,15,891 shares
From the previous close of Rs 107.72 to the day's high of Rs 119.13, the stock gained approximately 10.60%. At the reported 8% rally, the shares were trading around Rs 116.34.