Why are shares of BGR Energy, Bandhan Bank, Godrej Agrovet, 3i Infotech & GR Infraprojects rising today?

A handful of stocks climbed up to 20 per cent in Tuesday's trade amid company-specific actions. BGR Energy Systems and SBC Exports surged on order wins; Bandhan Bank jumped on receiving Rs 916.61 crore in claims; 3i Infotech advanced on incorporating a subsidiary while Godrej Agrovet rose on entering into two sale deeds. Meanwhile, GR Infraprojects jumped on entering a share purchase agreement with Lokesh Builders for transfer of its entire stake in subsidiary GR Highways Investment Manager.

BGR Energy Systems soared 20 per cent to Rs 80.30 has secured orders from Indian Oil Corporation for construction of civil and structural works in Panipat Refinery Project Complex. The contract value is Rs 330 crore excluding GST and the contract completion period is 18 months.

Shares of Bandhan Bank climbed 4 per cent in Tuesday's trade after the lender informed stock exchanges that it has received claim under the CGFMU, the Trust Fund set up by government of India, amounting to Rs 916.61 crore for FY22.

In a filing to BSE the bank said: it had obtained guarantee under CGFMU, the Trust Fund set up by government of India, managed by NCGTC as a Trustee, with the purpose of guaranteeing payment against default in loans extended to eligible borrowers by banks.  "It is to be informed that Bank has received claim under the scheme for FY 2022-23 amounting to Rs. 916.61 crore," it said.

3i Infotech gained after the company incorporated wholly-owned subsidiary in India to engage into business of cognitive computing related Software Products. . The subsidiary is a private company by shares called ‘NuRe FutureTech’. The stock rose 2.18 per cent to hit a high of Rs 42.05 on BSE.

Shares of Godrej Agrovet were up 1.91 per cent to Rs 490.10 after the company entered into two sale deeds for transfer of total land admeasuring around 3.92 acres situated at Ambattur, Tamil Nadu for a total consideration of around Rs 71.36 crore. The company has entered into sale deeds with Godrej and Boyce Manufacturing Company (G&B) and Minerva Veritas Data Centre.

GR Infraprojects rose 2.33 per cent to Rs 1249.90 after the company entered into share purchase agreement with Lokesh Builders for transfer of entire equity shares being held by GR Infraprojects in its wholly owned subsidiary GR Highways Investment Manager. Upon completion of the aforesaid transfer, GHIMPL would cease to be subsidiary of the company.

SBC Exports surged 6.58 per cent to hit a high of Rs 17.00 after the company bagged 12 work orders from National Informatics Centre Services Incorporated (NICSI), New Delhi for providing office support, project management support and rollout services. The aggregate purchase order cost of the said work orders is Rs 1.35 crore, it said.

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