GR Infraprojects Shares Surge After Getting Big Highway Contract

Good news is coming in for GR Infraprojects, a major player in building infrastructure. Their shares got a boost, going up by 1% on August 30. The reason? Two parts of the company have signed a crucial deal with the National Highways Authority of India (NHAI).

Around 9:31am, GR Infraprojects was trading at Rs 1,309.10, which is Rs 23.25 higher, or up by 1.81%, on the BSE stock market. This exciting rise is because two parts of the company, GR Belgaum Raichur (PACKAGE‐5) Highway Private Limited and GR Belgaum Raichur (PACKAGE‐6) Highway Private Limited, finished signing a deal for projects worth Rs 1,457.2 crore with NHAI.

What are these projects all about? They focus on expanding a highway in the Belgaum – Hungund – Raichur Section of NH‐748A (Ext. SH‐20) in Karnataka. This is part of what's called a hybrid annuity mode. The total cost of these projects is about Rs 1,457.2 crore, and they're expected to be finished in around 730 days from the start date.

But that's not all. GR Infraprojects also recently got a letter saying they've been accepted for a huge project worth Rs 3,637.12 crore. This project is all about building things like tunnels and power houses for the Dibang Multipurpose project in Arunachal Pradesh.

Even though their shares have seen ups and downs before – hitting a high of Rs 1,425 and a low of Rs 930.00 in the past – the latest news shows they're moving in the right direction. Investors are watching closely as GR Infraprojects takes on these exciting new challenges in India's infrastructure landscape.