Heavy buying: Back-to-back upper circuit in this small-cap multibagger stock; bags new order worth Rs 2,469 crores!
Shares of the company have gained more than 160 per cent in the last six months.
Shares of GMR Power & Urban Infra Limited were locked in the upper circuit on Monday, gaining 10.00 per cent. The stock has witnessed heavy buying activity from investors in the last two days. Hence, the stock is locked in the upper circuit. On Monday, the stock also made a fresh 52-week high at Rs 46.29.
Recently, the company bagged an order worth Rs 2,469.71 crore. The step-down subsidiary of GMR Power and Urban Infra Limited, GMR Smart Electricity Distribution Private Limited will install, integrate and maintain 75.69 lakh smart meters in Purvanchal Vidyut Vitran Nigam Limited (PuVNL) for two zones (Varanasi, Azamgarh zone & Prayagraj, Mirzapur zone) and Dakshinanchal Vidyut Vitran Nigam Limited (Agra and Aligarh zone).
This Advanced Metering Infrastructure (AMI) Project shall include the supply, installation, integration, commissioning and operation & maintenance of smart meters on a DBFOOT basis backed by state-of-the-art technology and software solutions for end-to-end automated system management.
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Shares of GMR Power and Urban Infra Limited have also delivered multibagger returns to their shareholders in the last six months. During this period, the company’s share price jumped from Rs 17.05 on March 20, 2023, to Rs 46.25 on September 18, 2023, an increase of about 170 per cent in a six months holding period.
GMR Power and Urban Infra Limited is a diversified infrastructure player and a subsidiary of GMR Enterprises Private Limited holds expertise in the sectors of Energy, Urban Infrastructure and Transportation.
Investors should keep a close eye on this stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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