Rs 14,974.60 crore order book: Civil construction company emerged as lowest bidder (L‐1) bidder for establishing a transmission scheme for integration in State of Karnataka
The stock is up by 60 per cent from its 52-week low of Rs 1,025 per share.
Today, shares of G R Infraprojects Ltd gained 2.62 per cent to an intraday high of Rs 1,640 per share from its previous closing of Rs 1,598.10. The stock’s 52-week high is Rs 1,859.95 and its 52-week low is Rs 1,025.
G R Infraprojects Limited has successfully secured the bid to construct a crucial transmission system in Karnataka. The company emerged as the lowest bidder (L1) in a competitive bidding process conducted by REC Power Development and Consultancy Limited. This project aims to integrate the Tumkur-II Renewable Energy Zone (REZ) into the state's power grid. By winning this bid, G R Infraprojects has positioned itself as a key player in India's renewable energy infrastructure development.
The transmission system to be constructed by G R Infraprojects involves establishing a substantial 400/220 kV pooling station near Tumkur, along with a 400 kV DC line connecting Tumkur-II and Tumkur (Pavagada). Additionally, the project encompasses the installation of essential electrical equipment, including bus reactors, at the Tumkur-II pooling station. This infrastructure will play a vital role in efficiently transmitting electricity generated from renewable sources in the Tumkur-II REZ to the wider power grid.
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Incorporated in 1995, G R Infraprojects Ltd is an integrated road engineering, procurement, and construction company (EPC) with experience in the design and construction of various road/highway projects across 15 States in India. It mainly undertakes civil construction projects under the road sector's EPC and BOT (Build Operate Transfer) basis.
According to the financials, GR Infraprojects Ltd has a market cap of over Rs 15,000 crore and the order book as of June 2023, stands at Rs 14,974.60 crore. The company reported positive numbers in its Quarterly Results (Q1FY25) and annual results (FY24).
The shares of the company have a PE of 16x, an ROE of 16 per cent and an ROCE of 17 per cent. The stock is up by 60 per cent from its 52-week low of Rs 1,025 per share. Investors should keep an eye on this mid-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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