G R Infraprojects Shares Rebound on Rs 4,263 Crore Project Win

19 Mar 2025 CW Team

G R Infraprojects' share price ended its four-day losing streak, gaining over 2% in early trade after the company emerged as the selected bidder for a $515 million project from the National Highways Authority of India (NHAI).

As of 09:23 AM, the stock was trading at Rs 981.60, up by Rs 23.20 (2.42%) on the BSE.

The project involves developing a 6-lane access-controlled Agra-Gwalior Greenfield Highway and strengthening existing sections of NH-44 across Uttar Pradesh, Rajasthan, and Madhya Pradesh. The project, under the Design-Build-Finance-Operate-Transfer (DBFOT) model on a Build-Operate-Transfer (Toll) mode, has a completion period of 910 days from the appointed date.

Additionally, during its March 7, 2025 board meeting, the company announced an interim dividend of Rs 12.50 per equity share of face value Rs 5 for the financial year 2024-25. The board also approved the divestment of its 100% equity stake in its wholly-owned subsidiary, GR Galgalia Bahadurganj Highway (GGBHPL), along with the assignment of unsecured loans made to the subsidiary.

In a separate development, G R Infraprojects signed a Memorandum of Understanding (MoU) with the Government of Assam for the development of a ropeway project from Sonaram Field to Bhubaneshwari Temple, Kamakhya, Guwahati, worth $33 million.

The company's strategic moves and fresh project acquisitions have boosted investor confidence, as reflected in the early trading gains.

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