GPT Infra stock zooms 9% on receipt of order worth Rs 216 cr

Shares of GPT Infraprojects rose nearly 9% today after the firm said it won an order worth  Rs 216 crore. The share of  GPT Infra rose 8.68 per cent intraday to Rs 57.6 against the previous close of Rs 53 on BSE. Market cap of GPT Infra rose to Rs 321.69 crore. Total 0.17 lakh shares of the firm changed hands amounting to a turnover of Rs 9.69 lakh on BSE. The share has been gaining for the last two sessions. In a year, the stock has climbed 36.39%. Shares of GPT Infra are trading higher than the 5 day, 20 day and 200 day moving averages but lower than 50 day and 100 day moving averages.

In terms of technicals, the relative strength index (RSI) of the stock stands at 47.2, signaling the stock is neither oversold nor overbought. The stock has a one-year beta of 1.6, indicating very high volatility during the period.

The firm has won an order from the office of the Maharashtra Rail Infrastructure Development Corporation Limited, Mumbai. The order relates to the Construction of proposed extensions of Ghatkopar Cable Stayed Road Over Bridge (between EP/19/156 and EP/20/1) connecting LBS Road junction and Eastern Expressway Junction in Mumbai.

GPT Infraprojects Limited, the flagship company of GPT Group, is a premier infrastructure company based out of Kolkata. GPT, incorporated in 1980, operates through two business divisions - infrastructure and sleepers. The company made inroads into the infrastructure segment in 2004 and is now an established Railway focused player.

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