Shares of GR Infraprojects Ltd rallied 6.54% on 24 September after the company announced emerging as the lowest bidder (L1) for a project worth Rs 903.534 crore from the Maharashtra Metro Rail Corporation Limited. 

In its regulatory filing, the company said, “we are pleased to inform you that our Company has emerged as Lowest bidder in Financial Bid Opening dated 23 September 2024 for the following tender invited by Maharashtra Metro Rail Corporation Limited, Nagpur (Maha Metro).”

The scope of the order includes designing and constructing elevated metro viaducts of length 17.624 km between Ch. 21256.814 to Ch. 38881.7 including Railway spans of length 79m & 100m and a 6-lane Double decker portion with Vehicular Underpass (VUP) from Ch. 25755.211 to Ch. 26895.211 for a total length of 1.14 km in Reach-1A of NMRP Phase-2. 

The company added that the project has to be executed under the engineering, procurement, and construction (EPC) mode and has to be completed in under 30 months. 

Earlier on 17 September, the company completed the sale of its wholly-owned subsidiary GR Aligarh Kanpur Highway Pvt Ltd to Bharat Highways InvIT for a total consideration of Rs 98.6 crore. 

As of 31 March, GR Aligarh Kanpur Highway Private Limited contributed 1.99% to the company’s total income and 2.10% to its total net worth. 

At 11:23 am, the shares of GR Infraprojects were trading 2.88% higher at Rs 1,714.05 on NSE. 

Ready to invest like a pro? Unicorn Signals app equips you with 100+ Free tools and knowledge you need to succeed. Download the Unicorn Signals app and gain access to daily stock lists and insightful market analysis and much more!