GMR Infrastructure rises after consortium wins freight corridor project

The 221 KM Eastern Dedicated Freight Corridor railway project is worth Rs 2281 crore.

Shares of GMR Infrastructure were up nearly 3% at Rs 11.85 on the Bombay Stock Exchange after the company said that a consortium led by the company has won the 221 KM Eastern Dedicated Freight Corridor project.

The consortium has been issued a Letter of Award for the railway project at a cost of Rs 2280.70 crore on engineering, procurement and construction basis, the company said in a release.

The first package comprises of 175km single line connecting Sahnewal and Pilkhani that passes through Uttar Pradesh, Haryana and Punjab. The other package is a 46km double line corridor in Uttar Pradesh connecting Dadri and Khurja, the release added.

The stock touched a high of Rs 12 in intra-day trade. At 11:50am, over 14.5 million shares were traded on both the stock exchanges.