Dont miss action on this low-priced stock as its likely to announce bonus shares!
The stock went to reclaim its day’s high level. Interestingly, nearly 50 per cent of the volume in the stock was seen in the last half an hour of the trade.
GPT Infraprojects Limited, the flagship company of GPT Group, is a premier infrastructure company based out of Kolkata.
The stock saw a stunning move from its day’s low, jumping over 5 per cent on NSE. In the last 30 minutes of trade, the stock went to reclaim its day’s high level. Interestingly, nearly 50 per cent of the volume in the stock was seen in the last half an hour of the trade.
So, why this stock was in action in the last half an hour of trade? The company announced that a meeting of its board of directors is scheduled to be held on September 27, 2022, to consider & approve among other matters the issuance of bonus equity shares of the company.
The stock has advanced more than 65 per cent in the last three months and climbed a staggering 215 per cent in the last three years. It is trading close to its 52-week high of Rs 129.90.
Very recently, the company bagged an order valued at Rs 173 crore. The nature of the contract is the doubling of the railway tracks between Ludhiana and Qila Raipur (17.174 km) including 25 kV high rise OHE railway electrification and signalling & telecommunication works in engineering procurement & construction (EPC) mode. The name of the entity awarding the contract is Northern Railways.
In the quarter that ended in June 2022, the company announced growth of 54.61 per cent YoY in its net sales from Rs 121.53 crore to Rs 187.91 crore. Net profit for the same period jumped 75 per cent YoY from Rs 4.21 crore to Rs 7.38 crore. EBITDA stands at Rs 22.44 crore in June 2022, up by 13.33 YoY from Rs 19.80 crore in June 2021.