 "G R Infra rises 3% on emerging L1 bidder for BSNL's Bharat Net project")
G R Infraprojects shares rose 3.4 per cent in trade and registered an intraday high of Rs 1653.4 per share on BSE. The stock climbed after the company was declared as the lowest bidder (L1) in Bharat Sanchar Nigam's (BSNL) Bharat Net Ph‐3.
Around 1:23 PM, G R Infraprojects shares were up 2.24 per cent at Rs 1634.05 per share on BSE. In comparison, the BSE Sensex was up 0.29 per cent at 79,716.32. The market capitalisation of the company stood at Rs 15,804.77 crore. The 52-week high of the stock was at Rs 1,859.95 per share on BSE and 52-week low of the stock was at Rs 1,025 per share.
"We are pleased to inform you that our company has emerged as L‐1 bidder in BSNL’s Bharat Net Ph‐3 (Middle Mile) Project : Package‐16 bid opening dated November 9, 2024, for the following tender invited by Bharat Sanchar Nigam Limited (BSNL) on behalf of Department of Telecom (DoT)," as per the filing.
The contract is worth Rs 867.54 crore and has to be executed within three years of execution. Additionally, G R Infra will maintain and operate the middle mile network of Bharat Net for more than 7 years.
Meanwhile, ITI with its consortium partner also emerged as the lowest bidder (L1) for three packages of BharatNet phase-3 project for a total value of Rs 4,559 crore.
GR Infraprojects is an Indian infrastructure company engaged in the development of road and highway projects. They specialise in the construction, maintenance, and operation of roads, highways, and bridges. The company also undertakes projects in the areas of transportation, civil engineering, and urban infrastructure.
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GR Infraprojects is involved in both government and private sector projects, and it primarily works on projects awarded through Public-Private Partnership (PPP) models. Over the years, the company has gained a reputation for successfully completing large-scale infrastructure projects across India.
In the past one year, G R Infraprojects shares have gained 41 per cent against Sensex's rise of 22 per cent.