News Overview

The Nifty Attractiveness Quotient in September sees a smart shift in favour of the financial stocks

GR Infraprojects also secured a ₹903.5 Crore contract from Maharashtra Metro Rail Corporation Ltd for the design and construction of an elevated metro viaduct in Nagpur.

The project has a combined income potential of ₹3,500 Crore, according to the company's stock exchange filing.

The construction timeline is 30 months, and PNC Infra negotiated the bid from an initial ₹2,486 Crore.

As of September 30, the company has an order book of ₹22,500 Crore and an order pipeline for shipbuilding projects of ₹7,820 Crore.

The company's net profit for the quarter increased 20% year on year to ₹98 Crore, up from ₹82 Crore in the previous period.

In addition, by the conclusion of the second quarter, the company recorded a pending order book of roughly ₹3,847 Crore.

According to the filing, the facility arrangement was entered into to cover the VRL Group's cash flow requirements.

The price band for the IPO is set at ₹1,865 to ₹1,960 per share, with a minimum bid of 7 equity shares.

The rise is explained by the ongoing demand for air travel, even though there are still supply issues with planes.