GPT Infraprojects shares hit record high on winning largest order

Shares of GPT Infraprojects Ltd hit their all-time high in early trade after the firm said it has bagged an order worth Rs 739 crore, the single largest in its history. GPT Infraprojects shares zoomed 2% to a fresh high of Rs 111.22 against the previous close of Rs 109.04 on BSE.

 Market cap of the firm rose to Rs 646.99 crore. Total 0.23 lakh shares of the firm changed hands amounting to a turnover of Rs 25.96 crore on BSE today. GPT Infraprojects stock has a one-year beta of 1.4, indicating high volatility during the period.

In terms of technicals, the relative strength index (RSI) of the stock stands at 83.3, signaling the stock is  trading in the overbought 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 72.87% in a year and risen 106%  in 2023.    In a period of three years, the shares of the civil construction firm have grown 670%, delivering multibagger returns for investors.

The order relates to construction of new four lane Prayagraj Southern Bypass from design km. 43.200 (near Mahuari) to design km. 50.860 (near Nababa urf Nibi Kala Uparhar) (design length 7.660 km) Package-2 under Phase-I on NH-19 in UP under Bharatmala on EPC mode.

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.  

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