G R Infraprojects stock rises 3% on receiving LoA for Arunachal Pradesh project
G R Infraprojects shares gained 2.63% to Rs 1305.15 against the previous close of Rs 1271.65 on BSE.
- Aug 28, 2023,
- Updated Aug 28, 2023 1:46 PM IST
Shares of G R Infraprojects Limited rose nearly 3 percent today after the firm said it received a letter of acceptance (LoA) for the construction of civil works for the Dibang multi-purpose project in Arunachal Pradesh. The cost of the project is worth Rs 3,637 crore. G R Infraprojects shares gained 2.63% to Rs 1305.15 against the previous close of Rs 1271.65 on BSE.
Total 527 shares of the firm changed hands amounting to a turnover of Rs 6.79 lakh. Market cap of the civil construction firm rose to Rs 12,390 crore. The stock hit a 52 week low of Rs 930 on March 28, 2023 and a 52 week high of Rs 1425 on September 15, 2022.
In terms of technicals, the relative strength index (RSI) of the stock stands at 48.6, signaling it's trading neither in the overbought nor in the oversold zone. G R Infraprojects shares have a beta of 0.4, indicating low volatility in a year. G R Infraprojects shares are trading higher than the 5 day, 100 day,150 day, 200 day moving but lower than the 20 day, 30 day and 50 day averages.
In the last one year, the G R Infraprojects stock has fallen 8% but gained 9% this year.
In March this year, the Dibang Power consortium, a joint venture between G R Infraprojects and Patel Engineering, was declared as the lowest bidder for the construction of civil works in the northeast region.
The company, which constructs and maintains roads, highways, bridges, flyovers and airport runways will construct a head race tunnel, including intake, pressure shafts, penstocks, powerhouse, transformer cavern, tail race tunnel, and pothead yard, it said in a communication to bourses.
Also watch: Hot stocks on August 28, 2023: Texmaco Rail, Zomato, Jio Financial, Suzlon Energy and more
Shares of G R Infraprojects Limited rose nearly 3 percent today after the firm said it received a letter of acceptance (LoA) for the construction of civil works for the Dibang multi-purpose project in Arunachal Pradesh. The cost of the project is worth Rs 3,637 crore. G R Infraprojects shares gained 2.63% to Rs 1305.15 against the previous close of Rs 1271.65 on BSE.
Total 527 shares of the firm changed hands amounting to a turnover of Rs 6.79 lakh. Market cap of the civil construction firm rose to Rs 12,390 crore. The stock hit a 52 week low of Rs 930 on March 28, 2023 and a 52 week high of Rs 1425 on September 15, 2022.
In terms of technicals, the relative strength index (RSI) of the stock stands at 48.6, signaling it's trading neither in the overbought nor in the oversold zone. G R Infraprojects shares have a beta of 0.4, indicating low volatility in a year. G R Infraprojects shares are trading higher than the 5 day, 100 day,150 day, 200 day moving but lower than the 20 day, 30 day and 50 day averages.
In the last one year, the G R Infraprojects stock has fallen 8% but gained 9% this year.
In March this year, the Dibang Power consortium, a joint venture between G R Infraprojects and Patel Engineering, was declared as the lowest bidder for the construction of civil works in the northeast region.
The company, which constructs and maintains roads, highways, bridges, flyovers and airport runways will construct a head race tunnel, including intake, pressure shafts, penstocks, powerhouse, transformer cavern, tail race tunnel, and pothead yard, it said in a communication to bourses.
Also watch: Hot stocks on August 28, 2023: Texmaco Rail, Zomato, Jio Financial, Suzlon Energy and more