GR Infraprojects Subsidiaries Secure Rs 1,457.2 Crore NHAI Agreement, Shares Gain 1%

30 Aug 2023 , 12:22 PM

GR Infraprojects shares rise 1% on August 30 after subsidiaries secure NHAI concession agreement. At the time of writing, Shares were trading at at Rs 1,297.10 on BSE.

Subsidiaries GR Belgaum Raichur (PACKAGE-5) Highway Pvt. Ltd. and GR Belgaum Raichur (PACKAGE-6) Highway Pvt. Ltd. get agreement for Rs 1,457.2 crore projects. First project involves four-laning with paved shoulders in Karnataka’s Belgaum – Hungund – Raichur Section of NH-748A (Ext. SH-20) on hybrid annuity mode (Package-5). Project cost: Rs 716.47 crore, completion in 730 days.

Second project includes four-lane construction in same section on hybrid annuity mode (Package-6). Project cost: Rs 740.77 crore, completion in 730 days. On August 25, company receives acceptance letter for Rs 3,637.12 crore project in Arunachal Pradesh’s Dibang Multipurpose project.

GR Infraprojects share reached 52-week high of Rs 1,425 and low of Rs 930.00 on September 15, 2022, and March 28, 2023, respectively. 

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