GR Infraprojects wins project worth Rs 262 crore from Indian Railways but stock slips 

Shares of GR Infraprojects Ltd fell on Friday even as the company said it won a project worth Rs 262.28 crore from Western Railways. G R Infraprojects stock slipped 1.54% to Rs 1045 on Friday on BSE. Market cap of the firm stood at Rs 10,109 crore.

A total of 541 shares of the firm changed hands amounting to a turnover of Rs 5.62 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 49.4, signaling it's trading neither in the overbought nor in the oversold zone.

The project involves the conversion of 38.90 kilometers of railway track, alongside various associated works. These include earthwork, blanketing, the supply of ballast, the construction of both minor and major bridges, and the establishment of office and service buildings complete with water supply and sanitation facilities.

Additionally, the project covers the development of platforms, station amenities, retaining and boundary walls, side drains, and the complete linking of the track, with the provision of materials (excluding new rails) and small track machines.

The time period by which the project is to be completed is 730 days from the appointed date.

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.