Multibaagger power generation stock at Rs 105.69 was locked in the upper circuit as Board to raise funds up to Rs 3,000 crore via QIP, FCCB, etc!
The stock gave multibagger returns of 430 per cent in just 1 year whereas BSE Small-cap Index is up by 54 per cent.
On Monday, shares of GMR Power and Urban Infra Limited were locked in a 5 per cent upper circuit to Rs 105.69 per share from its previous closing of Rs 100.66. The stock gave multibagger returns of 430 per cent in just 1 year whereas BSE Small-Cap Index is up by 54 per cent. The stock’s 52-week high is Rs 107.30 per share whereas its 52-week low is Rs 19.60 per share. The shares of the company saw a spurt in volume by more than 2.31 times on BSE.
GMR Power & Urban Infra Ltd informed that a meeting of the Board of Directors of the company is scheduled to be held on Wednesday, August 14, 2024, to inter-alia, consider and approve the following:
- Unaudited Financial Results of the Company (Standalone and Consolidated) for the quarter ended June 30, 2024.
- Enabling Resolution for the raising of funds up to Rs 3,000 crore in one or more tranche(s), through the issue of securities including a Qualified Institutions Placement and/or Foreign Currency Convertible Bonds and/or any other securities and recommending the same to shareholders of the Company for approval, subject to other regulatory and/or statutory approvals, as applicable.
Furthermore, GMR Smart Electricity's (GSEDPL) recent success in securing smart meter projects in Uttar Pradesh. These projects, valued at Rs 7,593 crore, involve installing 7.57 million meters across several cities. Partnering with Bosch for expertise and investment, GSEDPL aims to establish dedicated entities for the installation process. This project signifies GMR's commitment to the green energy sector and holds promise for future growth.
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About the GMR Power & Urban Infra Ltd (GPUIL)
GMR Power & Urban Infra Ltd (GPUIL), a subsidiary of the GMR Group, is a leading Indian company with expertise in energy, urban infrastructure, and transportation. They operate across three main business segments: energy generation with a balanced fuel mix including coal, gas, hydro, solar, and wind; road and transportation projects encompassing highways, railways, metros, and airstrips; and Engineering, Procurement, and Construction (EPC) services for various infrastructure sectors.
Currently, energy is their biggest revenue driver, followed by roads & transportation, and then EPC. They have a strong track record with over 3,000 MW of installed power generation capacity and over 1,800 lane kilometres of operational roads & highways. Notably, they are nearing completion of a major EPC project for a section of the Eastern Dedicated Freight Corridor.
Disclaimer: The article is for informational purposes only and not investment advice.
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