Heavy buying: Back-to-back upper circuit in this small-cap multibagger penny stock; bagged new orders for smart meter project!

Shares of the company gained more than 130 per cent in the last six months.

Shares of GMR Power and Urban Infra Limited were locked in the upper circuit on Friday, gaining 5.00 per cent. The company has delivered robust Quarterly Results. The stock has witnessed heavy buying activity from investors in the last few days. Hence, the stock is locked in the upper circuit.

The company posted robust Quarterly Results. The revenue of the company for Q2FY24 stood at Rs 627.49 crore which declined by 60.3 per cent YoY. The operating profit of the company stood at Rs 173.54 crore, while the PAT of the company stood at a loss of Rs 108.98 crore, from a profit of Rs 483.54 crore last year same quarter.

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GMR Smart Electricity has received the LOA for a smart metering project in Purvanchal, Uttar Pradesh, involving the installation, integration, and maintenance of 50.17 lakh smart meters. The order is worth Rs 5123.37 crore.

GMR Smart Electricity has received the LOA for a smart metering project in Uttar Pradesh, involving the installation, integration, and maintenance of 75.69 lakh smart meters across two zones. The order is worth Rs 2469.71 crore.

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. The stock has also delivered multibagger returns of over 130 per cent in the last six months.

The stock has shown tremendous growth and investors should keep a close eye on this stock.

Disclaimer: The article is for informational purposes only and not investment advice.