GMR Infrastructure rose 3.39% to Rs 11.91 at 09:35 IST on BSE after the company led consortium bagged 221-km of Eastern dedicated freight corridor project.
The announcement was made after market hours yesterday, 7 June 2016.Meanwhile, the S&P BSE Sensex was up 18.60 points or 0.07% at 27,028.27
On BSE, so far 6.47 lakh shares were traded in the counter as against average daily volume of 13.78 lakh shares in the past one quarter. The stock hit a high of Rs 12 and a low of Rs 11.80 so far during the day. The stock had hit a 52-week high of Rs 18.60 on 3 December 2015. The stock had hit a record low of Rs 9.58 on 4 September 2015.
The mid-cap company has equity capital of Rs 603.59 crore. Face value per share is Re 1.
GMR Infrastructure led consortium has been issued a letter of award for construction of 221-km long Eastern dedicated freight corridor railway project at a cost of Rs 2280.70 crore on EPC (engineering, procurement and construction) basis.
GMR Group is not required to provide significant investment for the project since it is implemented on EPC basis, GMR Infrastructure said. Earlier in April 2016, GMR led consortium emerged as the successful bidder amongst a total of six bidders for the project through an international competitive bidding process, the company said. The scope of work in the recently bagged project involves design and construction of civil, structures and track works for single/double line on design-build lump sum basis, it added.
The project funded by World Bank is divided into two packages. The first package comprises of 175 km single line connecting Sahnewal and Pilkhani that passes through Uttar Pradesh, Haryana and Punjab. The other package is a 46 km double line corridor in Uttar Pradesh connecting Dadri and Khurja.
GMR Infrastructure's consolidated net loss stood at Rs 953.50 crore in Q4 March 2016, higher than consolidated net loss of Rs 891.90 crore in Q4 March 2015. Total income rose 26.3% to Rs 3828.68 crore in Q4 March 2016 over Q4 March 2015.
GMR Group is a leading global infrastructure conglomerate with interests in airports, energy, transportation and urban infrastructure. The group has fifteen power generation projects, nine operating road assets and a double rail track line of eastern dedicated freight corridor under development.
Powered by Capital Market - Live News
