Shares of GPT Infraprojects jumped back in the green on Thursday going up over 8% to hit an intraday high of ₹188.
What Happened: The massive surge today comes as the company announced bagging an order from North Central Railway, Agra, Uttar Pradesh. The order is worth around ₹135 crore and is won by the company in a joint venture. GPT Infra’s share in the JV is 51%.
The order entails various tasks including earthwork in embankment and cutting, along with blanketing. Additionally, it involves the construction of minor bridges, subways, side drains, and toe walls. P.Way track linking, transportation of P.way material, supply and stacking of ballast, leading out of ballast, AT welding, and other ancillary work are also part of the project.
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As per the company, the total order inflow for the year ending March 2024 stands at ₹1,629 crore. The total outstanding order book for the company now stands at approximately ₹3,182 crore.
With a market cap of around ₹1,000 crore, the micro-cap stock is engaged in the execution of civil and infrastructure projects, especially large bridges and ROBs for Railways. Its manufacturing units are located at Panagarh (West Bengal), Ladysmith (South Africa), Tsumeb (Namibia) and Eshiem (Ghana).
Price Action: Shares of GPT Infra were up 5.18% to trade at ₹181.70 in early trade on Thursday.
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