G R Infraprojects Secures Transmission Project, Shares Rise 2%

2 Jan 2024 , 01:16 PM

G R Infraprojects’ shares rose by 2% to Rs 1,154 on January 2 following the issuance of a Letter of Intent (LoI) from REC Power Development and Consultancy.

The LoI pertains to the establishment of a ‘Transmission system for Evacuation of Power from RE Projects in Rajgarh (1000 MW) SEZ in Madhya Pradesh‐Phase II,’ part of the Inter‐State Transmission System Network, secured through Tariff Based Competitive Bidding Process (TBCB).

The project involves annual transmission charges of Rs 41.97 crore and is slated for completion within 24 months, with an operational period of 35 years.

In December 2023, G R Infraprojects reached a settlement on arbitral awards with the National Highways Authority of India (NHAI), amounting to Rs 41.38 crore. This settlement was related to the widening and strengthening project of the Harike-Zira-Faridkot section of NH-15 in Punjab under NHDP-IV.

The company’s stock achieved a 52-week high of Rs 1,381.60 and a 52-week low of Rs 930 on August 7, 2023, and March 28, 2023, respectively. Currently, the stock is trading 16.47% below its 52-week high and 24.09% above its 52-week low.

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