GR Infraprojects shares gain on order win from BSNL, check details 

Shares of GR Infraprojects Ltd rose over 3% today after the company received an advance work order (awo) from Bharat Sanchar Nigam Limited (BSNL). BSNL on behalf of the department of telecom (dot) awarded the significant infrastructure project under the Bharatnet initiative contract, valued at approximately Rs 1,257.29 crore

G R Infraprojects stock rose 3.52% to Rs 1110 on Tuesday on BSE. Market cap of the firm stood at Rs 10,525 crore. 

A total of 2080 shares of the firm changed hands amounting to a turnover of Rs 22.79 lakh. 

G R Infraprojects shares have a beta of 1, indicating average volatility in a year.

In terms of technicals, the relative strength index (RSI) of the G R Infraprojects stock stands at 50.6, signaling it's trading neither in the overbought nor in the oversold zone.

"The co has received an advance work order (awo) from bharat sanchar nigam limited (bsnl), acting on behalf of the department of telecom (dot), for a significant infrastructure project under the bharatnet initiative contract, valued at approximately Rs 1,257.29 crore," said the firm. 

The time period by which the order will be completed is 3 Years Execution + 7 Years O&M. The project will be built in Design Build Operate and Transfer (DBOT) Mode. In the December 2023 quarter, GR Infraprojects reported a 7.8% year-on-year (YoY) increase in net profit at Rs 261.7 crore. In the corresponding quarter of the previous fiscal, GR Infraprojects reported a net profit of Rs 242.7 crore, the company said. The company's operational revenue dropped by 20.6%, amounting to Rs 1,694.5 crore, compared to Rs 2,134 crore during the same period last year. Additionally, EBITDA saw a significant decline of 27.1%, coming in at Rs 369.8 crore in the third quarter of this fiscal year, down from Rs 507.6 crore in the equivalent quarter of the previous year.

Axis Securities has a buy call on GR Infraprojects with a target price of Rs 1,166. The time period given by the analyst is 6-9 months.

Incorporated in 1995, GR Infraprojects is engaged in construction of infrastructure facilities on Engineering, Procurement and Construction (EPC) and Built, Operate and Transfer (BOT) basis. The company undertakes construction and maintenance of roads, bridges, highways and various civil infrastructure projects.