Shares of GPT Infraprojects Ltd surged 4% on 2 September after the company announced emerging as the lowest bidder for the Rs 204 crore project. 

The company, in its regulatory filing, said that the project had been awarded by CAO Construction, South Eastern Railway for constructing multiple Road Over Bridges (ROBs) as well as associated bridge approaches between the Andul-Sankrail and Nalpur-Bauria Stations.
 
Earlier the fundraising committee of the company has approved raising capital by issuing equity shares through a Qualified Institutional Placement (QIP) at a price of Rs 174.64 per share.

This pricing comprises a premium of Rs 164.64 per share and is 5% less than the floor price of Rs 183.83, or Rs 9.19 a share.

For the first quarter of FY25, GPT Infraprojects recorded a 31.61% increase in net profit, reaching Rs 16.03 crore on an annual basis.

Furthermore, during the same period last year, net sales rose by 2.47% to Rs 241.73 crore from Rs 235.90 crore.

However, at 12:34 pm, the shares of GPT Infraproject were trading 1.78% lower at Rs 173.30 on NSE.

Unlock profitable opportunities every day! Unicorn Signals provides actionable intraday trading signals for stocks and futures. Don’t miss out – download Unicorn Signals and start winning now!