Multibagger infra stock climbs 13% on order win from Indian Railways

Shares of GPT Infraprojects rose 16% in early deals today after the firm said it has bagged an order worth Rs 487 crore from Indian Railway. The order relates to the construction of new BG line from chainage 52500 to 83200 in Solapur-Osmanabad section of Solapur Division of Central Railway. This contract is in joint venture with GPT’s share being 26%

GPT Infraprojects shares zoomed 16.17% to a fresh high of Rs 199 against the previous close of Rs 171.30 on BSE. Market cap of the firm rose to Rs 1109.05 crore. Total 0.17 lakh shares of the firm changed hands amounting to a turnover of Rs 31.61 lakh on BSE today. GPT Infraprojects stock has a one-year beta of 0.7, indicating very low volatility during the period.

In terms of technicals, the relative strength index (RSI) of the stock stands at 51, signaling the stock is  trading neither in the overbought nor in the oversold zone. GPT Infraprojects shares are trading higher than the 5 day, 10 day, 20 day, 50 day, 100 day and 200 day moving averages.

The stock has climbed 289% in a year and risen 12%  in 2024. In a period of three years, the shares of the civil construction firm have grown 925%, delivering multibagger returns for investors.

GPT is the flagship company of GPT Group, based out of Kolkata. GPT, a premier infrastructure company, operates through two segments– Infrastructure and Sleeper.The company has strong project execution capabilities, healthy financial base, and enviable growth prospects across all areas of operation. The outstanding order book for the Company now stands at approximately Rs 2,838 crore with total order inflow for fiscal 2024 of Rs 1,019 crore.