GPT Infraprojects shares rose after its wholly owned subsidiary, Alcon Builders and Engineers, secured a signalling contract from Western Railway’s Bhavnagar Division. The order is valued at Rs. 1.5 bn including GST, or Rs. 1.27 bn before tax, and covers work at 18 stations.

The subsidiary will replace older panel-based signalling systems with electronic interlocking, which prevents trains from being directed towards conflicting tracks. Its responsibilities include designing, supplying, installing and testing the equipment under the contract.

The company informed the exchanges on 16 October, after market hours, making 19 October the first trading session in which investors could react. GPT Infraprojects shares reached an intraday high of Rs. 130.90, up 4 per cent, before trading at Rs. 124.75 on the National Stock Exchange at 10:51 am, down 0.68 per cent from the previous close of Rs. 125.60.

GPT Infraprojects, established in 1980, is the lead company of the GPT Group and focuses on railway infrastructure, road projects and signalling work for government clients. Its outstanding order book stood at Rs. 55.38 bn, while orders secured during FY27 totalled Rs. 13.64 bn.

The latest award follows a Rs. 1.34 bn Western Railway project in the Ratlam Division, for which Alcon Builders and Engineers was declared the lowest bidder on 1 October and received the order announcement on 17 October. The company’s South African subsidiary also secured a five-year contract to manufacture railway concrete sleepers for Transnet Freight Rail, valued at about Rs. 3.85 bn before VAT. GPT Infraprojects shares had gained 4.87 per cent over the previous month, while their 52-week high was Rs. 150, recorded on 23 June.